Market Activity Brief

Posted: June 13th, 2014 by Brad

Housing around Western Washington is on an upward trajectory, but inadequate inventory “in the right prices and locations” makes for a “very difficult market for purchasers and brokers,” according to an executive with one multi-office real estate company.
 
New figures from Northwest Multiple Listing Service show inventory increased in May compared to a year ago, but brokers say competition is keen.
 
Fewer sales closed last month compared to a year ago (down 2.2 percent), but prices increased. For single family homes (excluding condos) the area-wide median price rose 4.2 percent, increasing from $285,000 to $297,000. Condo median prices jumped nearly 15% from the year-ago price of $200,000 to last month’s price of $229,900.

Generally, homes in great condition within popular neighborhoods at competitive prices are selling quickly and often with multiple offers.

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