Homes In Sammamish - A Real Estate Update

Posted by The Cascade Team Real Estate on Monday, July 18th, 2011 at 1:36pm

As of July 18, 2011, there are 242 active homes in Sammamish between $400K and $1 Million.  These homes haave an average price of $616,901, and an average days on market of 111.  There are currently 16 shorts sales in Sammamish at an average price of $618,950 and 189 days on market, while there are only 7 bank owned homes at an average of $492,029 and 110 days on market.

Next, lets take a look at the pending homes in Sammamish.  There are three classifications on pending, the first being "pending inspection".  There are currently 30 homes at pending inspection at an average of $646,902 and 84 days on market.  These are homes that now have a contract and the buyers are in the process of having the home inspected.  Next there are 8 homes as "pending back-up", with an average of $548,050 and 118 days on market.  Based on the lower price average, it is most likely that these homes are short sales with contracts submitted to the lender for review.  Lastly, we have 64 homes sitting a "pending", with an average of $636,202  and 68 days on market.  These homes have most likely passed all contract contingencies and are waiting for final loan docs and closing.

Lastly, when we look at the sold homes in Sammamish at this same price parameter over the last week, we find that 11 homes sold in Sammamish at an average of $630,585, at 51 days on market.  These Sammamish home sellers closed at an average of 98.38% of their asking price when the offer came in.  Homes closing within 51 days would suggest that these homes in Sammamish were priced correctly for the market conditions.  When homes are not priced correctly, buyers tend to avoid them or wait for the prices to come inline with the market, which can cause the days on market to climb.With rates at or near historic lows, it is a great opportunty for any home buyers looking to enter the Sammamish real estate market. 

For those people who are interested in the Vintage area, there are currently 7 active listings at an average price of $567,121 and 82 days on market.  There was one sold home in Vintage in the last week which closed at $489,000.

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