Pending Home Sales in Seattle Jump 27% Year-Over-Year

By
Real Estate Agent with SeattleHome.com -Coldwell Banker Danforth

NWMLS statistics released recently point to a number of statistics showing a strong resurgence in the real estate market.

  • In February, pending home sales increased 27.4% compared to last year
  • 20 of 21 counties in the NWMLS service area showed double digit gains
  • Lake Forest Park, Central Seattle, and Normandy Park all marked sales gains of over 50%
  • Inventory of homes available for sale in the NWMLS territory is down 22.5%
  • Inventory in King County is down 32.3% and in Snohomis County is down 38.2% since last year

Rising sales and shrinking inventory can only lead to rising prices in the long-term.  Distressed properties will still drag on the market, but other forces seem to be taking over, and we are just starting the Spring selling market.

 
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