New Stats for Western Washington
According to our Northwest Multiple Listing Service there has been a significant increase in pending sales for April, up 11.4% compared to a year ago and up 21.3 % from March figures.
The NWMLS encompasses 19 counties. In the Puget Sound area (King, Kitsap, Pierce and Snohomish counties) pending sales were up 26% from March. According to the data, the inventory is less, and prices are stabilizing. The median price for April's closed sales was $270,000 for homes and condominiums, down 12.9 percent for the one year period but was the same for March.
Inventory is down 18.3% from last years levels.
This good news is credited to lower prices, lower interest rates which means higher affordability and improving consumer confidence and of course the first time buyer tax incentive.
According to Lennox Scott, chairman and CEO of John L Scott Real Estate described the market as "bifurcated". " Sales are up and prices have stabilized in the more affordable market, " but he also noted the high end properties are experiencing different market conditions.
http://www.porttownsendrealestatesearch.net/
I love this post. Consider yourself reblogged!Thanks for the info-Dinah Lee
Love the beautiful picture Sandra!... thanks for spreading the good news!
Thanks for the picture and information. Must be nice to live up there in the summers
This is good news for my little area. Thanks for reading. This is truly a beautiful area.
Sandra,
What wonderful news!! Things a going better here in northwest Washington also!! Thank You so much for sharing this!!
Sandra - good news for you, an increase in pending should lead to an increase in closed. Love that photo, have seen that view many times, having flown into an out of the area probably 500 times.
Mike,
Thank you for reading my posts. This really is an amazing place, and we pay the price to live here, as it is very limiting as to income. This sales info is for the greater Seattle area and will take some time to reach us here in Port Townsend. Things are still a bit rough here and I am seeing unbelievable price reductions here everyday.