The Northwest MLS has released their Western Washington real estate statistics for February 2015.
Home sales rose in February with 1790 closed sales versus 1688 last month and are up 10.5% from this time last year. The median price of single family homes dropped 2.6% while condo prices rose 7.7% since last month. Closed sales for King County were up .84% from 2014 but down 28.4% over December 2014. Pending sales have increased 14.44% from the same time last year and up 15.38% from last month. Inventory of homes for sale is down 14.09% compared to last year at the same time.
King County Data for February 2015:
- King County median prices have increased 2.74% from twelve months ago.
- There were 1790 closings in King County for single family homes and condos, up 10.49% from a year ago.
- Pending sales for King County were up 14.44% from the same time last year.
- There were 3555 active listings in King County for February 2015, down 14.09% from a year ago and just slightly more than last month’s 3536 listings.
- There were 2919 new listings in King County compared to 2518 new listings in January.
- The single family median price was $429,900 compared to $405,400 last February – a 6.04% gain.
We continue to see a bustle of activity in the greater Seattle real estate market. Pending sales continue to outpace the number of new listings, making for a highly competitive seller’s market. Here at findwell, agents are noticing an influx of new residents into the area and these buyers seem to be choosing homes based on their proximity to mass transit options such as the light rail. This is becoming ever more important as the traffic times to and from work are increasing along with the increase of jobs and general growth.