July Home Sale Looked Promising
By Craig Ruden, Redmond, Washington Real Estate Broker & Investor

So what is going on in King County?   According to the NW MLS Activity Report for July 2011,  Median Closed Price is $319,000 and Average Closed Price is $410,618 so our market appears to be holding up just fine.   By the way, ever wonder the difference?  The Median price measures the point in which half the houses sell for less than this value while half sell for more.   The average price the total price volume of all houses sold divided by the number of houses sold.  The Average price tends to be higher because the expensive homes tend to skew this number.  

As for new Construction in King County, there were 1052 new residential homes and 371 new condominiums that have either recently been listed, on-market, pending, or closed.   More specifically, the Redmond/Carnation market for Condominium and Residential houses (MLS code 550) had 449 Active Listings, 80 Pending, and 75 Sold for the month of July.   Beginning next month, I will be comparing figures on a month to month basis, but needless to say, it’s still not a great seller market. 
 
Much of my time is still spent helping my clients with through over-leveraged property or those potentially facing foreclosure.    If you contact me, I’d be happy to send an excellent article called “15 Options When Facing Foreclosure” and/or consult with you on the pros and cons of each option.

Cheers and enjoy your summer!