In a couple of weeks the year will be over. What will the final stats for the Auburn real estate market show? One fact we know now is that more homes have sold in Auburn in 2011 than sold in 2010, 2009 and 2008. However, home prices have continued to drop. Until short-sale homes and bank owned homes become the exception instead of the rule prices will probably continue to drop. As of today there was a 13.891 decrease in average sold price compared to 2010. This could be the fourth straight year with declining prices. What I find alarming is that we are at this moment in a double-digit decrease once again.
Last month (November 2011) there were 55 homes that sold, of these 55 homes 25 were short sales and 11 were bank owned properties. All good for buyers, but is still hurting the home owner that is current on their mortgage but upside down in their equity.
Look at the chart below to compare the home sold in Auburn for the years 2006 – 2011 (as of today)
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If you are thinking of selling your Auburn, Washington and would like more information on your Auburn neighborhoods market just fill out the form with your name, email address and property address and I will get you more detailed information.