Today, the Northwest Multiple Listing Service (NWMLS) just released its market report for April 2014. The figures show that inventory is still tight, with only 1.74 months of inventory in King County. This makes a "Sellers market," as a more balanced market would have four - six months of inventory.However, in April 2013 there was only 1.55 months of inventory in King County on the NWMLS. So the length of time it takes to sell a residential property has increased slightly.
Currently there are 4511 active listings in King County, with 3797 pending sales. The median price in King County of both condos and single family houses is $386,000. Overall, the median sales price of single family homes and condos on the NWMLS increased 1.9% over last year.
However, pending sales in King County are showing a 2-8% month-to-month decrease from their level in 2013.
For a free copy of the April 2014 NWMLS Market Report, please contact Wendy Ceccherelli at HomeLandInvestment@gmail.com or leave a message on our 24/7 recorded real estate hotline, 888-621-4999.
Happy Investing!
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