While changes are occurring on a day to day basis as our lawmakers in the other Washington (D.C.) are busily working to hammer out some solutions to our economic downturn and housing market situation, I thought that I would examine our local Auburn real estate market trends and see how 2009 is beginning. In the months to come, I shall be giving a quarterly update throughout the year about the housing market in Auburn, WA.

To begin, how many property listings are there currently on the housing market in the Auburn area, and how many of them are selling so far this year?

TOTAL ON MARKET: Okay, there are currently 588 listings of residences on the Auburn, WA real estate market. This includes residential homes (378), condominiums (92), manufactured homes in parks (75), multi family duplex & 4-plex ( 27), and small commercial dwellings (16).

UNDER CONTRACT w/pending sales: Currently, out of the above listed residences on the real estate market, the following 82 listings in Auburn have pending sales: residential homes (60 – of which 24 of these went pending in January of this year), condos (10), manufactured homes (8), multi family (1), small commercial (3).

SOLD: The closed sales in Auburn, WA in January include residential homes (22), condos (2), and manufactured homes (2). Keep in mind that some of these closed sales had been ongoing on the market from the previous year.

It is currently taking anywhere from 21 days to 178 days for a home to sell here on the Auburn, WA real estate market, with 92 days being the average. Higher end homes usually have a much longer time on real estate market.

BANK OWNED & SHORT SALES: Out of curiosity, I wanted to see how many of the properties on the Auburn real estate market were bank-owned or short sales. Scrolling down the list of residential listings only, I found that in the homes priced below $400,000 approx 1/4 of them fell into this category, with 14% being bank owned, and 11% being short sales. In the price range above $400,000 there were less of these types of listings, with 6% bank owned and 4.5% short sales.

During the month of January, out of the total number of listings above, the actual listings that were put on the Auburn market were residential homes (91), condos (24), manufactured homes (20), multifamily (2), small commercial (1).

In reviewing the chart below, it is easy to see that Auburn’s real estate market boasts a varied and wonderful range of homes from which to choose, from small cozy homes, a super inventory of first time buyer homes between $160,000 and $250,000, and equestrian/ranch homes and custom/luxury homes in gated communities! The price ranges for the available homes are as follows:

Real Estate Market Trends

Real Estate Market Trends

All homes on the real estate market are available now for showing and purchasing. Also, do not let your home become a future bank owned property, see my blogs on foreclosure, short sales, loan modifications, mortgages, and why now is a great time to buy a home on the Auburn, WA housing market. Call me today for advice on pricing your home!

Posted on Wednesday, February 4th, 2009 at 5:13 pm and is filed under Housing Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.