What happened in the Auburn Washington Real Estate Market in the month of June? How many homes sold in Auburn during June? Below you will find some charts with facts and figures. What do they mean? Looks like inventory is way down with only about 3 months of inventory available. You know what that means? Seller’s market and price increases. Home sales and prices have increased from June 2011 and June 2012, but when you look at the market data for the first six months in 2011 and 2012 you will see that the sold home price has continued to decline. Average homes sold price in 2011 was $236,569 compared to $229,691 this year. Are we at the bottom? With the shortage of inventory will prices rise? Short sales and bank foreclosures still continue to effect any type of normal housing market.
In the first 6 months there were 135 homes sold that were bank owned and 70 homes that sold as short sales. Those lower prices will continue to hurt any kind of recovery for home sellers. With the average sales price of a bank owned home at $166,018 the banks continue to have a negative effect on the housing market. Why can’t a bank price a property at market value is just beyond me and to be honest just ticks me off. How can the normal home seller compete with the banks? The homes that sold as short sales the past 6 months sold at a more healthy average sold price of $195,964, but these homes will still continue to effect the equity you have in your home.
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