What a year 2012 turned in to for Mercer Island Real Estate! It started off slowly but ended with a bang! I have broken the year into a few different sections below to really show you what has taken place. I can’t wait to see what this will look like at the end of 2013 because we are already seeing multiple offers with prices escalating considerably over the listing price.
Inventory Analysis change over a year comparing the same month (December 2011 versus December 2012)
Dec 2011 Dec 2012 % Change
Homes on the Market 77 54 -30%
Homes under contract 14 31 121%
Homes sold 13 18 38%
Dec 2011 Dec 2012 % Change
Condos on the Market 16 8 -50%
Condos under contract 5 6 20%
Condos sold 2 7 250%
Inventory Analysis measuring year to date with previous year (January-December 2011 verus January-December 2012)
YTD 2011 YTD 2012 % Change
Homes on the Market 418 441 6%
Homes under contract 349 404 16%
Homes sold 259 296 14%
YTD 2011 YTD 2012 % Change
Condos on the Market 71 50 -30%
Condos under contract 58 62 7%
Condos sold 41 45 10%
Price Analysis – This is a monthly comparison of the average sold price (December 2011 versus December 2012)
Dec 2011 Dec 2012 % Change
Average Home Sold Price $990,674 $1,834,678 85%
Average Condo Sold Price $312,500 $340,886 9%
This is a monthly comparison of the Days on Market (December 2011 versus December 2012)
Dec 2011 Dec 2012 % Change
Days on Market (Home) 62 90 45%
Days on Market (Condo) 118 84 -29%