For residential properties through late April 2008, It continues to be primarily a Buyer’s market in the Juanita/Woodinville market.  On the chart above, green means a Buyer’s market.

When we say  there’s a “Buyer’s market” we mean the “weeks supply of inventory” (a realtor’s index to determine the market) favors Buyers.  That is the inventory of houses available is large; Sellers have had those properties on the market for some time; and Sellers may be willing to consider concessions or price reduction.

A large inventory and an increasing “cumulative days on market” (it’s taking longer for sellers to find buyers), yet  value retention in homes (Sellers still, by-and-large get their asking price) favorable mortgage rates and a healthy Washington State economy with job increases, modest unemployment and rising rents … all bode well for Buyers.  Add, too, land building restrictions in “green” oriented Washington State which means a brake on overbuilding.

And for that matter Sellers still enjoy a decent market even though it may take longer to sell their properties.  They may have to price carefully and be willing to make some concessions … even consider contingent buyers (folks who have to sell their homes to move on to the next).

If there’s one bright spot on the real estate horizon its in high end homes. In the $2,500,000 to $3 million dollar range we find a neutral market, favoring neither Buyer nor Seller.   Inflationary trends, high gas and grocery prices (factors that might dampen sales activity at certain price ranges), traditionally leave high end Buyers unaffected.  The high end market moves to its own rules.