Pending sales, closed sales and prices have all risen for the month of August compared to one year ago. With continuing low inventory levels, Buyers are still scrambling to get ahead of the competition creating a Seller’s market in many areas!
There were 8,338 Pending sales in August, which was an increase of 9.3 percent from a year ago. This is the fifth consecutive month that Pending sales have been over 8,000.
The NWMLS reported the highest number of closed sales for 2012 this past month logging in at 6,612.
There were 8,379 new properties added to the market in August; just beating the Pending sales by a slim margin. Last month’s total inventory was 25,506 listings; down over 28 percent from a year ago when we saw 36,907 listings.
The Median price on last month’s closed sales was $250,000; up in all 21 Counties served by the Northwest Multiple Listing Service by more than 5.9 percent from a year ago. Although it was slightly higher in July ($254,900), it’s still a strong showing for the market in general.
As the market continues to heat up while at the same time building a solid foundation, we may never see an opportunity like this in our lifetimes to make a move…let me help make this a memorable real estate experience for you!