April MLS #s are up!
April MLS #s are up....and King County has hit a new peak. The closed Res Median for April 2007 is $465K. Up 10K from March 2007, and up YOY $45K.
http://www.nwmls.com/discover/library/s ... ntking.pdf
As I suspected, the Seattle market is still red hot with appreciation at record levels. The Spring selling season turned out to be better then anyone had expected. Go pink ponies!
http://www.nwmls.com/discover/library/s ... ntking.pdf
As I suspected, the Seattle market is still red hot with appreciation at record levels. The Spring selling season turned out to be better then anyone had expected. Go pink ponies!
Comments
First # is April 2007, second is April 2006.
Area
710: 120 93
705: 195 181
700: 65 70
390: 100 82
385: 30 24
380: 69 65
140: 171 157
Sales up AND prices are up. Looks like we're in for another strong year of appreciation. There seems to be insatiable demand that the current inventory can't meet.
Home prices remain steady
By AUBREY COHEN
P-I REPORTER
Western Washington home prices continue to hold up better than those in much of the country, but the latest numbers leave room for interpretation.
The typical King County home sold for $407,265 in April, up 8 percent from the same month last year and the first time the median for houses and condominiums combined topped $400,000, according to the Northwest Multiple Listing Service. That's in contrast to falling year-over-year prices in much of the U.S.
But the number of closed home sales in King County last month was down 4.2 percent from April 2006, while pending sales, which can be a better indicator of the latest activity, were down 5.4 percent and the number of homes on the market was up 45.1 percent. This fits with a general trend of slower price increases, with increasing inventory and fewer sales, since last summer.
Filtering out condos, whose sales and were up last month, closed house sales were down 7.3 percent while pending house sales were down 9.6 percent. House inventory was up 38.4 percent. The median house sold for $465,000, up 10.8 percent from a year ago.
For the fourth month in a row, the price of King County houses has risen, reaching a median $465,000 in April, according to statistics released today by the Northwest Multiple Listing Service.
The housing market's strength is further confirmed by a Windermere Real Estate analysis that shows the majority of single-family homes sold within Seattle last month went for more than asking price.
That trend was strongest among two-bedroom houses; they brought an average of 100.43 percent of their asking price, Windermere found.
Three bedrooms houses, which accounted for the largest percentage of sales, on average sold for 100.25 percent of asking.
Only five-bedroom houses sold for significantly less: 97.6 percent of asking.
Some 64 percent of all Seattle houses sold within 30 days.