I saw a blog post from Sam Debord about the greater Seattle market bank owned homes and began to wonder about my immediate market. The city of Sammamish is a 10 year old city east of Seattle that has grown very quickly the past few years. How does our small market compare to the greater area.
Sam reported that in the greater Seattle market there are approximately 10,000 listings currently on the market, of those, 280 are bank owned, 2.8%. Sammamish has a population of around 30,000 and currently shows 271 homes that are active or contingent. Of that, only 7 are bank owned, and another 13 show up as short sales. So, of our current inventory, 2.6% are bank owned and 4.8% are short sales.
Overall, compared to much of the country, we are doing very well. As compared to the greater Seattle market, this is an insignificant difference.
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