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Friday, January 8, 2016

Prices still strong with a Backlog of Buyers

Selling prices for single family homes and condominiums that sold across the Northwest MLS 23-county service area surged 8.6 percent from a year ago, rising from $290,000 to $315,000. The price of a single family home (excluding condos) that sold in King County during December jumped nearly 15.5 percent, from $440,000 to $508,000,

Area-wide, inventory was off 29 percent from a year ago, plunging from 17,659 active listings to 12,522. That total includes 4,041 new listings the MLS brokers added during December, which was down from 4,367 the members added during the same month a year ago.

Despite rising prices in most areas, closed sales ended the year on a strong note. Brokers reported 7,091 closings during the month to outgain the year-ago total of 6,284 by more than 12.8 percent. For the year, Northwest MLS members logged 88,831 closed sales, up from 2014’s total of 77,276 for a 14.3 percent gain.

To learn more about the market in your area and what your home would sell for, email me for a free market home sale data at stacie@list4flatfee.com.  I will need the property address, beds/baths/sq.ft. in the email.

Also visit List4FlatFee  to find out more about saving on commissions when selling 

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