For the entire area, which includes some sales in Spokane County, the total number of sales increased 25% compared to the 1st quarter of 2011.

The average list price is down 6%.

The average sale price is down 20%.

Its worth noting that of the 64 reported sales, 25 or approximately 40%, were reported as lender owned properties. In the 1st quarter of 2011 there were 15 sales, approximately 30% of 1st quarter 2011 sales, reported as lender owned. Since it’s not required by the local association to note a lender owned property we expect this number is slightly higher for both years.

Active inventory is down about 4% and new listing entering the market are down about 12% compared to 1st quarter of 2011.

Stevens County is also showing  improvement over the 1st quarter of 2011 with a 41% increase in sold properties. That translates to an additional 13 sales compared to the 1st quarter of 2011.

The average list price is down about 5%.

The average sales price is down 10%.

Of the 44 reported sales in 1st quarter 2012, 13 homes, or 30% were reported as lender owned. In 1st quarter 2011 of 31 reported sales only 6, or 20% were reported as lender owned.

Active inventory in Stevens County for the 1st quarter of 2012 for is down about 4% and new listings entering the market are down about 11% compared to the 1st quarter of 2011.

Please note our graphs do not show the yearly comparison but are provided to show the current price and inventory trend over a 12 month period.

Please leave a comment or question, or if you prefer contact one of our agents for a more detailed summary of current market conditions.

Note-in this video, Annie indicates that we were anticipation Governor Gregoire would sign SB 6472, and on March 29th she did.

Over all the MLS data for the Northeast Washington real estate market indicates we are down less than 1% in the number of sales for the entire Northeast Washington Association of REALTORS ® Multiple Listing Service. The average list price for 2011 is down almost 6% from 2010. The average Sale price for 2011 is up almost 5% from 2010. The inventory of active listings was up 4% from 2010. The new inventory coming on the market in 2011 was down 9% compared to 2010.

Residential Price

Residential Inventory

However real estate is local and if we break this down by county we see the statistics are not the same across Stevens, Ferry and Pend Oreille Counties.

Ferry County is showing the most improvement with residential sales up almost 61% from 2010. The average list price in Ferry County is down by less than 1% from 2010. The average sale price in Ferry County is down by almost 5% from 2010. The inventory of active listings is up by slightly more than 7%. The new inventory coming on the market in 2011 was down by 7% compared to 2010.

Ferry County Residential Prices

Ferry County Residential Inventory

Stevens County home sales have not fared as well as Ferry County home sales. The number of sold listings in Stevens County was down more than 5% from 2010. The average list price was down just over 2% from 2010 The average sale price was up 8% from 2010. The inventory of active listings was down 10% from 2010. The inventory of new listings coming on the market for Stevens County was down almost 30%.

Stevens County Residential Prices

Stevens County Residential Inventory

A further break down of Stevens County to Colville, Chewelah and Kettle Falls reveals a downward sales trend in the cities.

Residential real estate in Colville saw a 40% decrease in sales from 2010. The average sales price was down 13% The total active inventory for the year was down 15% from 2010. The new inventory coming on the market was down 23% from 2010.

Residential real estate in Kettle Falls saw a 21% decrease in sales from 2010. The average sale price went up 7% from 2010 The active inventory for the year remained the same. The new listings coming on the market increased by 15%.

Residential real estate in Chewelah saw a 17% decrease in sales. The average sale price decreased 28% compared to 2010. The total active inventory for the year decreased 4% The inventory coming on the market increased by 15%.

Pend Oreille County saw a 38 % decrease in sales tracked by our MLS The average list price dropped by almost 5% The average sale price decreased by nearly 24% compared to 2010. The active inventory for the year decrease by 10% from 2010. The new listings coming on the market decreased by almost 30%.

Pend Oreille County Residential Inventory

Pend Oreille County Residential Prices

Ken Barcus has been working in the real estate industry for more than 15 years and has extensive experience in Buyer Brokerage, Land Development, Farms, Foreclosure Property, Investment Opportunities, New Construction, Property Management and Residential Acreages. Among Ken’s achievements is Top Producer in the Northeast Washington Association of REALTORS® for 12 consecutive years, 2009 Association Past President, 2009 Association REALTOR® of the Year, 2007-2010 State Director for the Washington Association of REALTORS®, 6 years as a Director for the Northeast Washington Association of REALTORS®.

Winning this award is a tremendous accomplishment. Ken Barcus continues to raise the bar in real estate, making RE/MAX Select Associates and this community proud.

RE/MAX is one of the leading real estate franchise companies with the most productive sales force in the industry and a global reach of more than 80 countries. With one of the most recognized brands in the world and one of the most trafficked web sites, www.remax.com, RE/MAX leads the industry with experienced, professional agents – agents who are trained and educated through the award-winning RE/MAX University.

We are in the beginnings of another challenging year in the real estate industry. 2011 has gone leaving only in the dust a rather flat local real estate market. We did see the number of sales slip slightly from 2010 along with the overall sales volume throughout the tri counties. However we remain very optimistic for 2012 as RE/MAX Select Associates did finish 2011 off as the #1 real estate office for total sales volume as reported through the North East Washington Association of Realtors; a 24% increase from the prior year. This we could not have done without the confidence of our valued customers, clients and friends like you.

I am excited to announce a new company I have opened in an effort to satisfy the growing demands of our customers: Select Property Management, Inc..  In December of 2011 we added a new name here to work under our roof in an effort to better serve you. Select Property Management will specialize in the management and leasing of residential and commercial real properties throughout the tri counties. Since 2007 when the market seemed to simply “shut off”, we almost instantly started to notice the number of landlord/tenant calls rapidly increasing nearly to the point where we were getting as many if not on some days more “rental” type calls than we were getting real estate calls. So after long thought and many days of hard work Select Property Management was born. Select Property Management will be run independently from RE/MAX Select Associates and will be there to assist our clients with their rental & leasing needs.

Jen Mauer, who many of you have met, is our lead property manager. Jen brings extensive knowledge and enthusiasm from the fast paced property management market on the coast, home to Colville, to assist in serving you with your needs.

Select Property Management offers the following services:

 -Full background & screening checks on ALL potential tenants.

 -Professional leases & addenda that meets CURRENT Washington Law.

 -Timely collection of monies.

 -Full accounting & accountability.

 -Maintenance, repairs, snow removal & yard services.

 -Assists with loss mitigation and timely notices to tenants.

 -All providing YOU with QUALITY & QUALIFIED tenants.

If you are currently a landlord or want to be one, let Select Property Management earn your business today. Please feel free to contact our team; we will be happy to take the burden off of you.

“Select Properties Managed by our Expert Team”

The newsletter is always worth sharing so I’m going to give you the link before I have a chance to read everything. I’m particularly interested in the article about the influx of new residents to the Tri-County area. I’m also interested in the article on the Government Management Accountability and Performance (GMAP) toolset, which is an online tool set to help measure government accountability and performance.

If you haven’t visited the Northeast Washington Trends site, it’s worth a look. Just in case you missed the link to the newsletter here it is again. Northeast Washington Trends Newsletter Winter 2010.

Compared to the same time period in 2010
Residential sales are down 10%
Residential inventory is down 1.7%
The average sales price is up 4.6%
The median list price, that price with an equal number of listings above and below remains the same.

Compared to the same time period in 2010
Vacant land sales are down 18%
Vacant land inventory is down 18%
The average sale price for land is up 56% this increase could be the attributed to one large sale.
The median list price, that price with an equal number of listings above and below is down 4%.

Data is from the Northeast Washington Association of Realtors® Mulitiple Listing Service Database. Information is deemed reliable but is not guaranteed.

Part One

Rob McKenna, WA State Attorney General

Part Two

Marc Cote, a Certified HUD Housing Counselor

Part Three

Rob Dickson, Lawyer and Short Sale Negotiator

Washington State Attorney General’s Office Foreclosure and Mortgage Assistance This website has collected most of the links for the information you need to make a decision regarding your next steps. The descriptions are clear and the resources are explained before you follow the links

The average list price is down about 6% to 236,500.

The median list price is up about 3 to 195,000.

The average sales price is up about 2% to 159,800.

The median sales price is down by about 4% to 139,350.

The average days on market is has changed just over a percent.

The median number of days on market is down about 11%.

The most active price ranges in the market are below $300,000.

Land sales continue to slow.

Comparing year to date statistics for the Land Market;

There have been 65 vacant land sales in the 1st half of 2011, almost a 40% decrease compared to 2010.

The absorption rate is down 23% to 47 months, this drop could be attributed to a reduced inventory, 19% less, and fewer new listings coming on the market, 27% less for 2011.

The average list price is down about 4%.

The median list price has changed less that 1%.

The average sales price has increased about 12%.

The median sales price has remained the same.

The average days on market has increased about 40%.

The median days on market has increased about 41%.

The most active price ranges in the market are below $80,000

For more information on the local real estate market contact one of our REALTOR® / Brokers.