Jun 13

Seattle area June home sales

Momentum building as home buyers respond to lower prices, favorable financing

The Northwest Multiple Listing Service reports  a 43% increase in Pending Sales during May as compared to May 2010. Year-to-date pending sales are down about 5.5% which is slightly under the total for the first five months of 2010 when sales were boosted by a federal tax credit.

Reported one area agent: “We’re seeing a definite shift in the market – especially in the areas closer to Seattle and Bellevue. Homes that are priced aggressively are seeing a lot of competition and we’re even getting reports of some homes selling before buyers can act,”

Eastside Inventory and Sales

Another said: “On King County’s Eastside, we are seeing a decrease in the number of listings that are short sales or bank-owned properties. Inventory of quality homes in median price ranges is low and we see multiple offers in most price ranges, including homes in the higher prices ranges.”

VIDEO:  Most prevalent home seller repairs and the home inspection process

Click to see the video.

Click here for a .pdf copy of the entire June NW Multiple Listing Service press release, June 6, 2011.

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