The Northwest MLS has released their Western Washington real estate statistics for December 2014.
Home sale activity rose slightly in December with 2500 closed sales versus 2323 last month. The median price of single family homes stayed exactly the same and condo prices were up 4% since last month. Closed sales for King County was up 8.5% from 2013 and down 14.8% over October. Pending sales have increased from the same time last year but were down 26.7% from last month. Inventory of homes for sale is down 11.11% compared to last year at the same time.
King County Data for December 2014:
- King County median prices are dead even from twelve months ago.
- There were 2500 closings in King County for single family homes and condos, up 8.46% from a year ago.
- Pending sales for King County were up 8.4% from the same time last year.
- There were 3600 active listings in King County for December 2014, down 11.11% from a year ago and down 28.6% since last month.
- The single family median price was $440,000 compared to $419,825 last December – a 4.81% gain.
The market had a strong finish for 2014 – with one of the best Decembers on record. Overall, King County has shown increases in pending sales, closed sales, and median prices from the same time last year. The only number that has decreased since last year is inventory of listings. Here at findwell, agents say the New Year is shaping up to be much like 2013 and 2014 – low inventory with competition for the better homes, especially in Seattle and on the Eastside.