SEPTEMBER 2022
REAL ESTATE NEWSLETTER
BENTLEY PROPERTIES
REAL ESTATE
NEWS and TIPS
August is a Seller's Market!
- The number of for sale listings was up 100.2% from one year earlier and down 4.8% from the previous month.
- The number of sold listings decreased 24.1% year over year and increased 8.7% month over month.
- The number of under contract listings was up 13.9% compared to previous month and down 20.5% compared to previous year.
- The Months of Inventory based on Closed Sales is 1.8, up 159.4% from the previous year.
- The Average Sold Price per Square Footage was down 3.4% compared to previous month and up 3.3% compared to last year.
- The Median Sold Price decreased by 4% from last month.
- The Average Sold Price also decreased by 3.8% from last month. Based on the 6 month trend, the Average Sold Price trend is "Depreciating" and the Median Sold Price trend is "Depreciating".
- The Average Days on Market showed a neutral trend, an increase of 64.3% compared to previous year.
- The ratio of Sold Price vs. Original List Price is 96%, a decrease of 7.7% compared to previous year.
REAL ESTATE MARKET NEWS
Reports that we are entering a "bear market" are highly exaggerated, suggests an economist who tracks real estate activity when commenting on the latest statistics from Northwest Multiple Listing Service (NWMLS). A director with the multiple listing service said the latest data may just reflect a typical August, noting activity tends to be slow as summer ends.
REAL ESTATE TIPS
EVENTS AND HIGHLIGHTS OF SEPTEMBER
If you have any questions or comments you would like answered in next month's newsletter, email me at [email protected] and they will be included in the market update.
OR if you would like more information on our unique systems and programs, call us at 425-236-6777 or visit our website www.GeorgeMoorhead.com
OR if you would like more information on our unique systems and programs, call us at 425-236-6777 or visit our website www.GeorgeMoorhead.com
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