Do You Need Some Good News?

The Real Estate Market is Looking Up on Bainbridge Island

These days, the news related to the economy is generally doom and gloom.   On the national level, things are still not good.  However, in terms of real estate, the market is always a local one.  Other real estate markets do effect ours, that is for sure.  If I have a buyer from Las Vegas and they can not sell their house in Las Vegas, in order to buy one here, that effects the Bainbridge Island market.  Real estate has always been a game of dominos.  But, it is evident that the Seattle market has faired better than many like San Diego, Sacramento and Miami – all among the top ten worst markets for 2009.  I found the numbers below related to the Washington Real Estate Market to be good news and we could all use a little good news!

36.3%

Increase in Washington homes sales from 1st quatrer of 2009

21,300

Number of jobs added in Washington between January and March 2010

65%

Increase in single-family building permits in Washington comparing 1st Quarters of 2009 and 2010 (new homes being built)

98,100

Increase in Washington population July 2008-July 2009

4.5%

Contract mortgage rate in July, the lowest this year.

11

Number of Washington counties where median home price increased in the last year

8.0

Months supply of homes on the market at end of 1st quarter, down from 11.8 months in 2009

Stats from Washington Association of Realtors RE Magazine.