Home sellers and buyers finished a strong year in 2014, and many economists are forecasting an even stronger year in 2015! With interest rates expected to rise, prices still climbing and sales remaining strong, sooner may be better than later to decide to make a move.
Agents added 4,367 new listings to inventory last month, almost equal to the 4,333 reported at the same time a year ago; though a decrease of over 26 percent from November (5,521) and almost half the number reported in October (8,102). At month end, the total inventory of single family homes and condominiums for the 21 Counties served by the Northwest Multiple Listing Service (NWMLS) was 17,659; down 8.1 percent from the 19,214 active listings reported a year ago. System-wide, this constitutes about a 2.8 month supply of inventory with King County coming in at around 1.4 months and Snohomish County, 2.2 months.
Median prices of $$290,000 are up 5.5 percent from a year ago ($275,000) yet equal to October and down from July ($300,000).
Members reported 5,794 pending sales last month; an increase of about 11 percent from a year ago when members reported 5,224. There were 4,410 pending sales reported in the four Puget Sound Counties which is the highest December total since 2005.
There were 6,284 closed sales in December compared to 5,710 a year ago; an increase of 10 percent. This number also beat out November’s 5,872 yet fel short of October’s 7,257…still an impressive showing.
Having the information necessary to make an educated decision on when to move is pivotal in the decision making process; let The Expert Real Estate help you decide on your next move!