The Northwest MLS has released their Western Washington real estate statistics for July 2009. Trends for July, much like May and June, remain modestly positive. Pending sales of homes increases compared to July 2008, as did closed sales for that same period. We also continue to see an continued decrease in listing inventory.
Pending sales of single family homes in the four-county region of King, Kitsap, Pierce and Snohomish counties are up 21.2% over last July, but are down 6.9% from June. Pending sales for condos in the same four counties are up 12.5% over a year ago.
King County Data for July 2009
- King County median prices are down 12.8% from twelve months ago, but remain relatively flat or up slightly since January.
- There were 2,161 closings in King County for single-family homes and condos, up 4% since last month and up 6% from a year ago.
- Average sale price = $431,446
- Median sale price = $401,500
- Pending sales for King County are up 17% from the same time last year.
findwell has seen these same trends with our own customers with buyer activity continuing to strengthen. There appears to be a fair amount of buyers out there in the entry-level price range looking to take advantage of the first-time home buyer credit which is due to expire in November.