Hottest sales season in five years

Posted: September 17th, 2012 by Brad

Rebound continues, strengthens sellers’ positions
 
At least one area of our region was hot this summer. According to NWMLS statistics released earlier this month, August was the fourth consecutive month with more than 2,000 closed transactions. That makes the summer of 2012 the most robust sales season since 2007.
 
The prices homes fetched rose as well — from a median in the $345,000-$350,000 range in June, July and August 2011 to $375,000-$380,000 this summer. That’s an eight percent increase compared to August 2011.

Local real estate industry leaders are encouraged by the latest numbers, mentioning steady momentum, rising consumer confidence, low inventory, a pickup of activity in new construction, and improving prospects for homeowners who are underwater.

NWMLS Director Joe Spencer said the low inventory and heightened buyer activity are resulting in an imbalance of supply and demand, but he believes this “bodes well as we move into the fall season, which typically ushers in an increase in buyer activity.”

Buyers and sellers are “clearly more confident,” reported Spencer, also the area director for Keller Williams. These consumers “are looking to take advantage of the market rebound in what appears to be a continued slow and sustainable recovery.”

For more information on how the market is performing in your neighborhood, drop us a line sometime: info@justrealseattle.com or call (866) 766.7325

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