By Greg Perry
Kirkland Realtor
August continued HOT as almost every NWMLS Area remained RED SELLER'S MARKETS on the King/Snohomish Heat Map. Last year most of the areas were YELLOW on the heat map which indicated most King and Snohomish real estate markets were considered BALANCED MAKRETS.
The Eastside markets (NWMLS AREAS 500-600) also showed dramatic improvements from last year.
Total listings for 2012 came in at 1,859 vs 2,777 for 2011, yet PENDING sales were up (872 vs 705). Ths means overall months of inventory dropped from 3.9 months in 2011 to only 2.1 months in 2012.
Overall the Eastside areas closed sales are up 19% for the year. Median prices were up 2% from last year ($524,805 vs $513,365).
Here are the numbers AT A GLANCE:
Very similar to what is happening here in Park City and the rest of the country. Inventory is getting smaller and prices are stabilizing. Curious to see what will happen if the banks release more of their inventory.
Posted by: Park City Real Estate | October 30, 2012 at 01:04 PM
Wow! So amazing! That was such a good improvement! I hope it will maintain its quality continue to improve. :)
Posted by: Homes Foreclosure | December 21, 2012 at 12:49 PM
Inventory is declining and of course eventually the market will cycle back into a seller’s market. Great post with all the real estate statistics...it is very much easy to understand looking at this post.
Posted by: real estate in indore | February 21, 2013 at 03:37 AM