Tuesday, March 10, 2015

Record Level of Home Buying Activity

Home buying activity around Western Washington is at the highest level in nearly a decade, according to

Northwest Multiple Listing Service sources.

Northwest MLS figures show pending sales system-wide surged 18.7 percent in February compared to the

same month a year ago, rising from 7,247 mutually accepted offers to 8,599. Twenty of the 23 counties in

the service area reported double-digit increases in pending sales. 

Those numbers might be even higher given the ample supply of buyers, but inventory is far from ample.

Northwest MLS broker-members added more news listings to the database during February than 12

months ago (7,852 last month versus 7,234), but the higher sales volume kept inventory levels well below

year-ago totals. The MLS reported 16,946 total active listings at month end. That compares to a total of

19,273 for the same month a year ago for a drop of about 12 percent. 

Single family homes in King County had the highest median price at $429,900 (up 6 percent from a year ago).

So Sellers, now is your chance to cash in!

Happy Investing! 

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