As of July 26, 2011, there are 234 active homes in Sammamish between $400K and $1 Million, a reduction of 8 properties from the prior week. These Sammamish home for sale have an average price of $620,703, and an average days on market of 111; the same as the prior week. There are currently 16 shorts sales in Sammamish at an average price of $616,662 and 197 days on market, while there are only 5 Sammamish bank owned homes at an average of $475,140 and 75 days on market.
Next, lets take a look at the pending real estate in Sammamish. There are two primary classifications of pending properties, the first being "pending inspection". There are currently 30 Sammamish homes at pending inspection at an average of $617,363 and 102 days on market. Lastly, we have 65 homes sitting a "pending", with an average of $652,582 and 67 days on market. These homes have most likely passed all contract contingencies and are waiting for final loan docs in order to move toward the home 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 $641,933, at 69 days on market. These Sammamish home sellers closed at an average of 98.36% of their asking price when the offer came in and averaged $201 per square foot. Closing within 69 days would suggest that these Sammamish homes were priced appropriately for the area real estate 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. Any home seller wanting to sell in today's market needs to price correctly or they could be on the market for a longer than normal period of time.
For those people who are interested in the Vintage area, there are currently 7 active listings at an average price of $580,693 and 66 days on market. There were no homes sold last week in Vintage.