The Northwest MLS has released their Western Washington real estate statistics for March 2010. Sales activity rose significantly over February and compared to the same time last year. Median prices have been moving in a narrow range over the last year, though this month showed a slight uptick in median prices versus March 2009. The pace of closings and increase in pending offers is quite substantial compared to last year at this same time, up 61% and 69% respectively. Inventory of homes for sale continues to rise as we enter the spring selling season, but remains lower than inventory levels from a year ago.
King County Data for March 2010
- King County median prices are up 2.7% from twelve months ago.
- There were 2,008 closings in King County for single-family homes and condos, up 60.9% from a year ago.
- Pending sales for King County are up 69% from the same time last year.
- Average and median sale prices for homes and condos in King County remain relatively flat over the past year.
- There were 12,415 active listings in King County for March 2010, down 5% from a year ago.
Buyer and seller activity for our own business at findwell continued to be unseasonably strong in March. There is a push by some buyers to take advantage of the housing tax credits, and a continued desire to capitalize on the low interest rate environment while it lasts. It will be interesting to watch how market activity behaves after the expiration of the tax credit on April 30. Based on our internal forecasts for active buyers, we anticipate continued improvements through the summer season. Follow the findwell blog for future monthly statistical updates.
Previous monthly updates:
- Northwest MLS statistics – February 2010
- Northwest MLS statistics – January 2010
- Northwest MLS statistics – December 2009
- Northwest MLS statistics – November 2009
- Northwest MLS statistics – October 2009
- Northwest MLS statistics – September 2009
- Northwest MLS statistics – August 2009
- Northwest MLS statistics – July 2009
- Northwest MLS statistics – June 2009
- Northwest MLS statistics – May 2009
- Northwest MLS statistics – April 2009