Sales Jump More Than 23%, Prices Up Nearly 12%
According to statistics from the Northwest Multiple Listing Service (NWMLS), the number of homes sold in King and Snohomish counties jumped over 23% in March 2012 over the month before, and were up nearly 9% from March of 2011. Home prices jumped nearly 12% in March over February 2012, and were up almost 5% over the year before. Such a strong showing, coupled with a 22% increase in pending sales, is a predictor that the traditional spring and summer selling season is likely to be very robust in the Seattle area.
Fewer Choices on Market, Bidding Wars
The number of homes for sale (inventory) continues to decline, and there are instances of bidding wars in some neighborhoods. The Seattle market, which had been a buyer’s market for some time, is now turning to favor the seller. Generally, in that type of market, home prices will increase and homes will sell more quickly.
|All Residential (Single Family & Condo)|
|All Residential||March 2012||Change vs. Prior Month||Change vs. Last Year (March 2011)|
|Average Sold Price||$342,502||11.86%||4.92%|
|Avg Days on Market||86||-4.44%||-2.27%|
NWMLS Stats 3-12.pdf
Graphs active listings and homes sold for King and Snohomish Counties.
Activity 3-12.pdf (Residential & Condo)
Shows Residential & Condo listing data for King and Snohomish Counties, including Average Sales Price and Average Days on Market.
Activity 3-12 Residential.pdf (Residential only)
Shows Residential listing data for King and Snohomish Counties, including Average Sales Price and Average Days on Market.
Activity 3-12 Condo.pdf (Condo only)
Shows Condo listing data for King and Snohomish Counties, including Average Sales Price and Average Days on Market.