Hunts Point Home Sale Statistics for August

GeorgeMoorhead December 8, 2022 ·4 writeups ·joined Dec 2022

6 min read

Looking for Hunts Point home sale statistics for August? If you said yes, you've come to the right place. This article will discuss the sales figures and compare them to the previous month and year in Hunts Point Washington Real Estate.

However, there are many ways to learn about current housing trends, including local newspapers, websites, and even social media platforms. Some things, though, are not available from those sources. To learn how the market trends will look at the end of the report, read this report in its entirety.

Properties Sold

August property sales were 1, the same as in August of 2021.

Neutral Average Sold Price per Square Footage

The average price per square foot is a good indicator of the direction of home prices. Since median sold price and average sold price can be impacted by the mix of high- or low-end homes in the market, the average sold price per square footage is a more normalized indicator of the direction of home prices than either median sold price or average selling price.

The August 2022 Average Sold Price per Square Footage was $902.

The Average For Sale Price is Neutral

The average sale price in August was $29,690,000, up 46.6% from $20,248,000 in August of 2021.But in contrast to last month. It went down 18.3% from $36,360,000 last month.

The Average Sold Price Is Neutral

The Average Sold Price in August was $3,200,000.

The Median Sold Price is Neutral

The Median Sold Price in August was $3,200,000.

Neutral Inventory

While a higher month of inventory is better for buyers, a lower month is better for sellers. For example:

A buyer's market exists when there are more than six months of inventory.A seller's market exists when there are less than three months of inventory.3 - 6 months of inventory in a neutral market.

Inventory Based on Closed Sales

Based on closed sales, 4 increased by 100% compared to last year.It is up 33.3% compared to last month.

Inventory based on Pended Sales

The August 2022 months of inventory based on Pended Sales 4 increased by 100% compared to last year.However, it was up 33.3% compared to last month.

Pended Properties

There was the same number of pended properties in August, 1 property. August's pended property sales were the same as last year's.

Absorption Rate

In real estate investing, the absorption rate refers to the percentage of buyers who purchase a property within 30 days of seeing it listed. This number is significant because it shows whether the seller has correctly valued their home. You can anticipate a lower absorption rate if they haven't.

Depending on the type of property being sold, different absorption rates apply. Single-family WA Luxury Real Estate, for example, typically have higher absorption rates than condominiums. Property in desirable neighborhoods also sells more quickly than in less desirable ones.

Absorption Rate Based on Closed Sales

The August 2022 Absorption Rate based on Closed Sales of 25 was the same as last month's.

Absorption Rate Based on Pended Sales

The August 2022 Absorption Rate based on Closed Sales of 25 was down 24.9% compared to last month.

The Days on Market Shows Upward Trend

The average days on the market show how many days an average listing is on the market before selling. A downward trend in DOM means that properties are moving off the market faster, indicating a move towards more of an investor's market.

The DOM for August 2022 was 15.

The Sold/Original List Price Ratio is Falling

The Sold Price vs. Original List Price reveals the percentage of the selling price being reduced from the original list price. The higher the number, the greater the demand for the product.

August's Sold Price vs. the Original List Price was 92%.

Final Words

Some excellent options are available when purchasing a home in Hunts Point, Washington. In the previous month, prices underwent a lot of changes, and this is a neutral market. Some trends are ascending, while others are descending. Experts believe that the current slowing trend in Redmond Real Estate will continue for some time. However, this does not imply that the market is unprofitable. It simply means that you must be patient and cautious when placing your cards.