In the October 2012 issue of NWREporter, we learned that the housing market in Washington continues its recovery. Pending sales, closed sales and prices all increased in August, compared to the same time period in 2011. Along with an inventory shortage, real estate experts say that things continue to look good. A few key stats:
- There were 8,338 pending sales of single family homes & condos in Aug. 2012, a 9.3% increase over Aug. 2011.
- Closed sales hit the highest volume in 2012 to date.
- Brokers reported 6,612 total closings last month, continuing a four-month of streak of 6,000+ completed transactions per month.
- The median home price on closed sales rose more than 5.9% to $250,000, up from $236,000 a year ago.
- King County sales-related stats
- New listings: 3,195
- Total active listings: 6,432
- Pending sales: 3,298
- Closed sales: 2,730
- Average price: $414,308
- Median price: $340,000
For more good news, you can access the full article here.