Clyde Hill Homes Sale Statistics of August
Clyde Hill experiences an especially active spring market in August. Since more people are buying homes, sellers have trouble finding properties to sell. Have you been wondering how many homes were sold during the previous month? How much did they sell on average? Or how many were sold in Clyde Hill this past month? This article will cover all the information you require about Homes for Sale in Clyde Hill WA region.
Properties Sold
August property sales were 3, the same as in August of 2021.
And 40% lower than the 5 sales last month.
The Average for Sale Price is Neutral
The Average for Sale Price in August was $3,144,000, down 45.9% from $5,810,000 in August of 2021.
And down 45.8% from $5,797,000 last month.
The Average Sold Price is Depreciating
The Average Sold Price in August was $3,144,000, down 45.9% from $5,810,000 in August of 2021.
And down 45.8% from $5,797,000 last month.
The Median Sold Price is Depreciating
The Median Sold Price in August was $3,250,000, down 44.7% from $5,880,000 in August of 2021.
And down 41% from $5,505,000 last month.
The Days on Market Is Neutral
The number of days the typical property spends on the market before selling is indicated by the average Days on Market (DOM). A move toward a buyer's market is indicated by an increase in the DOM, while a decrease in the DOM indicates a move toward a seller's market.
The DOM for August 2022 was 34, up 277.8% from 9 days last month
And up 1,033.3% from 3 days in August of last year.
The Sold/Original List Price Ratio is Falling
The average discount sellers are willing to make from their original list price can be seen in the sold price vs. original list price comparison. There is more of a buyer's market when the ratio is lower than 100% and more of a seller's market when the ratio is higher than 100%.
This month's Sold Price vs. The Original List Price of 86% is down 14% % from last month.
And down from 22.5% % in August of last year.
Average Sold Price per Square Footage is Neutral
A good indicator of the direction of property values is the average value sold per sq foot. Because the mix of high and low-end properties in the market can influence the median and average sold prices, the average sold price per square footage is a more normalized indicator of the direction of property values.
The August 2022 Average Sold Price per Square Footage of $960 was down 35.3% from $1483 last month.
And down 12.4% from $1096 in August of last year.
Inventory based on Closed Sales
The August 2022 Months of Inventory based on Closed Sales of 3.3 was increased by 390% compared to last year.
And up 106.3% compared to last month. August 2022 is Neutral market.
Inventories based on Pended Sales
The August 2022 Months of Inventory based on Pended Sales of 10 was increased by 3,395.1% compared to last year.
And up 400% compared to last month.
Pended Properties
There was a decrease of 75% in the pended properties in August, with 1 property versus 4 last month.
This month's pended property sales were 85.7% lower than at this time last year.
Absorption Rate
How many people buy a property within 30 days of it going on the market is known as the absorption rate in real estate. Finally, this figure determines whether or not the Seller has correctly priced their home. If they haven't, the absorption rate will be lower.
Absorption rates differ depending on the type of property. For instance, condos are less capable of meeting demand than single-family homes. Homes in desirable areas also sell more quickly than those in less desirable areas.
Absorption Rate based on Closed Sales
The August 2022 Absorption Rate based on Closed Sales 30 was decreased by 80% compared to last year.
And down 52% compared to last month.
Absorption Rate based on Pended Sales
The August 2022 Absorption Rate based on Pended Sales of 10 was decreased by 97.1% compared to last year.
And was down 80% compared to last month.
Final Words
Although the housing market is stable and home appreciation rates are rising, Clyde Hill, Washington, still has some excellent deals for prospective buyers. Both pricing and home appreciation have been consistent for the year. Nevertheless, according to experts, by the end of the year, home values in August will start rising above the asking price. Hopefully, it will take place soon, say real estate agents.
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