According to the News Release by Northwest Multiple Services yesterday, home sales around Washington state surged last month. Northwest MLS brokers report 51% jump in pending sales, led by Snohomish County and King County. Notably, while entry-level home sales have been driving the market, brokers also reported strong activity at the upper end of the price spectrum. MLS brokers also reported year-over-year increases in the number of new listings added to inventory and in the volume of closed sales. "Sale activity is at a high level like we haven't seen in a while, but still not in the frenzy we saw a few years ago. Homes that are positioned well - at every price range - are selling quickly".
What's predicted:
The momentum is expected to continue in the coming weeks as the April 30 expiration of the tax credit approaches. Please go to my Blog Archive to read other two blogs on USD loan and Loan Interest prediction. I also believe that the buyers' buying ability might be affected by the loan program and the potential changing interest rate in the months to come so there is some market uncertainty later this year.
Below is the residential sales statistics at our Mason County local level for the month of March, 2010.
New Listings:
- Listing Inventory: Total 168 listings, up 20% comparing to last month, up 13% comparing to the same month last year.
- Average Days on the Market: 145 days
- Median Listing Price: $229,900, up 2% comparing to last month, down 5% comparing to the same month last year.
Pending Sale Listings:
- Total 78 pending listings, up 44 % comparing to last month, up 14% comparing to the same month last year.
- Average Days on the Market: 125 days
- Median Pending Sale Price: $166,000, up 12% comparing to last month, up 18% comparing to the same month last year.
Sold Listings:
- Total 44 Sold Listings: up 12% comparing to last month, up 46% comparing to the same month last year.
- Average Days on the Market: 113 days
- Median Sold Price: $158,000, up 8% comparing to last month, up 21% comparing to the same month last year.
(Above report compiled by PING Real Estate. Data source: NWMLS published data yesterday April 5).
Below is the statistical summary by the counties statewide for March, 2010:
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