Pondering Home

"Exceptionally low" inventory slows year-end home sales, contributes to steep price hikes around Greater Seattle region

KIRKLAND, Washington (January 5, 2018) - The year 2017 may be in the books and for many members of Northwest Multiple Listing Service it was a memorable one with December's activity being no exception. Brokers reported historic lows for inventory and year-over-year price gains in most areas.


"I've never seen inventory this low in Kitsap County in 27 years," remarked Northwest MLS director Frank Wilson, branch managing broker at John L. Scott Real Estate in Poulsbo. That county's number of active listings last month plunged nearly 40 percent from year-ago levels.

At month end, there were only 397 active listings in Kitsap County

42 Views, 0 Comments

Key indicators for Western Washington housing still rising, but brokers detect slowdown and uncertainty

 

KIRKLAND, Washington (November 6, 2017) - Early seasonal snow and questions swirling around the tax plan unveiled last week by House Republicans could make the usual seasonal slowdown more pronounced, say industry leaders from Northwest Multiple Listing Service. For October, however, key indicators trended upwards.

Pending sales rose nearly 8 percent from a year ago, closed sales were up 5.2 percent, and prices jumped about 8.2 percent, with 14 counties reporting double-digit gains. Even the number of new listings improved on the year-ago total.

Northwest MLS figures for the 23 counties it serves show members added 8,466 new listings to

88 Views, 0 Comments

MLS Brokers Detecting Seasonal Slowdown in Some Areas But Expect Price Hikes to Continue in Much of Washington

 

KIRKLAND, Washington (October 5, 2017) - "October will be the best month for selection and availability until late February," proclaimed J. Lennox Scott when commenting on the latest statistics from Northwest Multiple Listing Service.

MLS figures for September show inventory reached 1.7 months of supply at the end of the month, matching the year-to-date high in February. That level is still well below the 4-to-6 months of supply that many industry analysts use as an indicator of a balanced market.

Scott said buyer intensity for new listings is higher today than a year ago. "We continue to have very strong buyer demand as the typical

144 Views, 0 Comments

August real estate activity described as both "robust" and "stagnant"

KIRKLAND, Washington (Sept. 6, 2017) - As smoke and ash blanketed parts of Washington state, one real estate broker noted, "Even in a fire there are some cooler spots, and seasonally, the housing market is in a cooler spot."

The latest numbers from Northwest Multiple Listing Service show there are both cooler spots and hot spots, with the demand for housing and prices showing few signs of being extinguished.

"For August, we experienced a more robust market than anticipated," remarked Diedre Hanes, principal managing broker-South Snohomish County at Coldwell Banker Bain in Lynnwood. "Compared to years past, we've seen very limited slowdown," she added.

Pending sales area-wide

129 Views, 0 Comments