Northwest MLS Seattle Real Estate Statistics for May 2010

The Northwest MLS has released their Western Washington real estate statistics for May 2010. Not surprisingly, sales activity declined after the home buyer tax credit expired on April 30. Median and average sale prices in King County continue to move in a fairly narrow range, with small upticks in median and average sale prices over April. Closed sales were up 38% over May 2009, but pending transactions were down 22% from a year ago and down a fairly drastic 44% compared to pending sales in April. Clearly there was a big push by many buyers to get into contract on a home before the tax credit expired. Inventory of homes for sale increased over April, but remains largely unchanged compared to last year at the same time.

King County Data for May 2010

  • King County media prices are down 1.56% from twelve months ago.
  • There were 2,233 closings in King County for single-family homes and condos, up 38% from a year ago.
  • Pending sales for King County are down 22.6% from the same time last year and down 44% compared to April 2010.
  • There were 13,345 active listings in King County for May 2010, down 1.4% from a year ago.

King County Average Sale Price - May 2010

King County Median Sale Price - May 2010

We have seen these activity trends mirrored in our own business, which was unseasonable strong in February-April 2010. While there was a lull immediately after the tax credit, our own internal forecasts and trends point to a gradual increase of buyers as we enter the summer. Follow the findwell blog for future monthly statistical updates.

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