"All Things Edmonds" Blog

An overview of those 47 Edmonds houses and condos:

Single Family Residences:
For December 2009, Edmonds home sales trailed off from November 2009 by 25%. These numbers are still nearly twice the number of closings from a year ago. While we're seeing the effects of the traditional winter dip, home sales seem to have found a floor below which we don't seem to be testing, unlike a year ago.  Home prices in Edmonds, WA are actually higher than last month even though total sales were down. Part of this fluctuation may be attributable to the First Time Homebuyer Tax Credit which was actually extended to April 30, 2010.  It took three days longer to sell a house in Edmonds, WA but it's been steady; nothing too out of the ordinary.  The average sq ft of these 40 Edmonds homes was 2,386 sq ft. These homes spent an average of 80 days on the market (DOM) for the month of December. The list-to-sale ratio for these homes was 94.5% -- down slightly from last month. What that means is that homes ended up selling at 94.5% of asking price. So the average home listed at $476,779 would have actually sold at $450,512 for the month of December.

Condominiums:
Last month's spike in condo prices was an anomoly. In December, condo prices came back down in line -- and well below the average sale price for houses.  Condo sales in Edmonds, WA actually doubled from last month's anemic number. But the average days on market shot up as well, from 80 in November to 134 in December. But, again, the winter months have a way of slowing down the market. This trend was no different than last year.

Overall Market:
It's certainly not a bad time to purchase (or sell) a home in Edmonds, Washington. In fact it is a great time if you are a 1st time home buyer or a long-term homeowner. The former is eligible for an $8,000 tax credit while the latter is eligible for a $6,500 credit. That's a dollar-for-dollar credit. Not just a reduction in taxable income. Actual cash back. Read the information I have written about the program here.

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Snohomish County
• $6,500 Existing Homeowner Tax Credit | Who is Eligible?
• Frequently Asked Questions about the extended tax credit
• Summary of New Guidelines for Both Tax Credits

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a Buyer's market and I would rather sell in a Seller's market. But if you can't do either, it's not the end of the world. Drop me a line for more info or if you have any questions specific to your situation.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the Edmonds Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

Similar Posts

• Edmonds Real Estate Home Sales Report for November 2009
• Edmonds Real Estate Market Data for October 2009
• Shoreline Real Estate Market Data for October 2009

Statistics compiled by Casey Bui using available NWMLS data | Equal Opportunity Housing | All information deemed reliable, but not guaranteed.