Market in Edmonds is in the transaction phase. Here is the supporting information and explanations. Consider that the price range of $300,000 thru $550,000 leads the market as an overall advance indicator. Here is what that is telling us now:

·         The average market time for the 90 properties sold is just 63 days.

·         The number of Active Listings in this price range has dropped to 52.

·         As I write this report there are also 21 Listings that are Pending.

The Months of Inventory is now down to Active Listings/Pending= 2.47 months this is in spite of the fact that the holidays are one of the slower times of the year for buyers to be purchasing. You can look for the purchase to accelerate over the next few months and the prices should be holding. If you are looking for a great time to buy this might be close to the bottom. The factors that have come into play are that the interest rate is hovering around 4% there is still close to 2 months inventory and prices have not started increasing.