Northwest MLS releases Seattle real estate statistics for November 2009

The Northwest MLS has released their Western Washington real estate statistics for November 2009. As expected, the original November expiration of the first-time home buyer tax credit drove a quicker sales pace than might otherwise be expected. For Western Washington, pending sales increased 31% compared to November 2008, and closed sales increased 76% compared to November 2008. Inventory of homes and condos for sale also continues to decline, with inventory in Seattle down 16% from a year ago. Inventory for single-family homes in Seattle is down 20.6% since a year ago.

King County Data for November 2009

  • King County median prices are down 7.7%% from twelve months ago.
  • There were 2,234 closings in King County for single-family homes and condos, up a surprising 76.9% from a year ago.
  • Pending sales for King County are up 37% from the same time last year. 
  • Average and median sale prices for homes and condos in King County remain relatively flat this year.

King County - Average Sale Price

King County - Median Sale Price

findwell’s business in the Seattle area remained abnormally strong during November, echoing the overall trends seen in the market. We will continue to watch these statistics closely as we enter the slower winter season, but we do anticipate the pace of sales to remain stronger than normal because of historically low interest rates and the extension of the tax credit. Follow the findwell blog for future monthly statistical updates.

Previous monthly updates: