Update on Auburn, Sumner, and Bonney Lake homes

Currently the number of Auburn, WA homes, Sumner homes, Bonney Lake homes, active is at 961. The inventory for Auburn, Sumner and Bonney Lake is decreasing. Also pending sales for homes in Auburn, Bonney Lake and Sumner have increased. The percentages of sales are attached below.

When you combine inventory in Auburn, Bonney Lake and Sumner you see a decrease of nearly 30% in the last 12 months. Pending properties have increased over 60% in the last year and 70% in last 15 months.

Most of these pending sales are due to listings accepting offers on their homes they are selling in distress. When these type of offers are mutually accepted between a seller and a buyer they still need to be approved by the lienholder/mortgage company. This is why you see the recent spike in pending sales and the sold stats slowly trailing behind. Not all of these short sales are closing and a majority of them are taking a while to do so. Bank owned homes in Auburn, Bonney Lake, and Sumner along with shorts sales are to credit for nearly 60% of the closed transactions last month. It wasn't too long ago when we were able to ignore short sales and REO's and consider them outliers of the market statistics. Today they are major factors and are affecting thousands of homeowner's when computing their market value to sell.