Record-breaking rain at year-end 2012 apparently did not dampen home buying activity recorded by the Northwest’s largest real state multiple listing service according to new statistics.
Buying activity in the NWMLS, which covers 21 counties of Washington, rose 1.5% over December of 2011 to 5,314 pending sales. Perhaps of more interest the pending volume oustripped the 3,856 new listings by a wide margin.
It was the fourth consecutive month that pending sales topped new listings. Total sales in 2012 of 64,624 homes rose by 14.8% over 2011
J. Lennox Scott, chairman and CEO, of John L. Scott Real Estate observed, “There is nothing normal about the combination of factors fueling the current market.”
Among trends and factors NWMLS member brokers note:
- A housing rebound will continue but sellers should avoid over-pricing properties in order to sustain “controlled natural growth.”
- Rising rents and investor activity will continue to influence the market—along with low unemployment and record-low interest rates.
- Many individual owner-occupant buyers will avoid short sales and foreclosures given the complications, leaving space for investors.
- Prices are rising along with multiple offers on listings, likely the result of shrinking inventory.
In King County (Seattle), the NWML largest market, median prices for single family homes, townhomes and condos rose 17.5% to $342,000 over 2011. Inventory declined by 33.5% at year-end, leaving a scant 3.3 months supply of available homes compared with 5 months in 2011.
Throughout the 21-county area served by NWMLS the number of homes that sold for more than $1 million rose nearly 56% from 68 in December of 2011 to 106 in the same month of 2012.
Throughout the 21-county area served by NWMLS the number of homes that sold for more than $1 million rose nearly 56% from 68 in December of 2011 to 106 in the same month of 2012.
| Single Family Homes + Condos |
LISTINGS
|
PENDING
SALES |
CLOSED SALES
| |||
New
Listings |
Total
Active |
# Pending
Sales |
#
Closings |
Avg.
Price |
Median
Price | |
| King |
1,378
|
3,801
|
2,056
|
2,188
|
$425,210
|
$342,000
|
| Snohomish |
581
|
1,513
|
872
|
892
|
$279,231
|
$254,975
|
| Pierce |
701
|
2,734
|
986
|
808
|
$232,956
|
$200,563
|
| Kitsap |
170
|
1,183
|
267
|
226
|
$261,724
|
$219,975
|
| Mason |
60
|
590
|
52
|
59
|
$174,834
|
$145,000
|
| Skagit |
86
|
609
|
97
|
105
|
$257,427
|
$209,000
|
| Grays Harbor |
77
|
644
|
50
|
72
|
$139,675
|
$132,568
|
| Lewis |
56
|
549
|
58
|
50
|
$169,263
|
$162,500
|
| Cowlitz |
53
|
401
|
87
|
69
|
$159,092
|
$139,000
|
| Grant |
40
|
431
|
37
|
50
|
$161,897
|
$147,500
|
| Thurston |
187
|
988
|
248
|
223
|
$220,379
|
$203,000
|
| San Juan |
13
|
270
|
15
|
17
|
$565,059
|
$300,000
|
| Island |
61
|
573
|
83
|
76
|
$312,249
|
$257,500
|
| Kittitas |
33
|
346
|
35
|
37
|
$350,882
|
$220,000
|
| Jefferson |
29
|
340
|
33
|
37
|
$353,950
|
$252,000
|
| Okanogan |
23
|
335
|
16
|
15
|
$162,260
|
$145,000
|
| Whatcom |
160
|
1,059
|
164
|
197
|
$278,378
|
$255,000
|
| Clark |
22
|
176
|
47
|
36
|
$234,957
|
$179,550
|
| Pacific |
27
|
298
|
21
|
20
|
$133,061
|
$125,750
|
| Ferry |
1
|
75
|
2
|
4
|
$131,216
|
$147,950
|
| Clallam |
44
|
314
|
47
|
42
|
$200,033
|
$173,400
|
| Others |
55
|
489
|
41
|
44
|
$219,863
|
$155,000
|
| MLS TOTAL |
3,857
|
17,718
|
5,314
|
5,267
|
$322,252
|
$255,000
|
4-County Puget Sound Region Pending Sales (SFH + Condo combined)
(Totals include King, Snohomish, Pierce & Kitsap counties)
Jan
|
Feb
|
Mar
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Oct
|
Nov
|
Dec
| |
| 2000 |
3706
|
4778
|
5903
|
5116
|
5490
|
5079
|
4928
|
5432
|
4569
|
4675
|
4126
|
3166
|
| 2001 |
4334
|
5056
|
5722
|
5399
|
5631
|
5568
|
5434
|
5544
|
4040
|
4387
|
4155
|
3430
|
| 2002 |
4293
|
4735
|
5569
|
5436
|
6131
|
5212
|
5525
|
6215
|
5394
|
5777
|
4966
|
4153
|
| 2003 |
4746
|
5290
|
6889
|
6837
|
7148
|
7202
|
7673
|
7135
|
6698
|
6552
|
4904
|
4454
|
| 2004 |
4521
|
6284
|
8073
|
7910
|
7888
|
8186
|
7583
|
7464
|
6984
|
6761
|
6228
|
5195
|
| 2005 |
5426
|
6833
|
8801
|
8420
|
8610
|
8896
|
8207
|
8784
|
7561
|
7157
|
6188
|
4837
|
| 2006 |
5275
|
6032
|
8174
|
7651
|
8411
|
8094
|
7121
|
7692
|
6216
|
6403
|
5292
|
4346
|
| 2007 |
4869
|
6239
|
7192
|
6974
|
7311
|
6876
|
6371
|
5580
|
4153
|
4447
|
3896
|
2975
|
2008
|
3291
|
4167
|
4520
|
4624
|
4526
|
4765
|
4580
|
4584
|
4445
|
3346
|
2841
|
2432
|
2009
|
3250
|
3407
|
4262
|
5372
|
5498
|
5963
|
5551
|
5764
|
5825
|
5702
|
3829
|
3440
|
2010
|
4381
|
5211
|
6821
|
7368
|
4058
|
4239
|
4306
|
4520
|
4350
|
4376
|
3938
|
3474
|
2011
|
4272
|
4767
|
6049
|
5732
|
5963
|
5868
|
5657
|
5944
|
5299
|
5384
|
4814
|
4197
|
2012
|
4921
|
6069
|
7386
|
7015
|
7295
|
6733
|
6489
|
6341
|
5871
|
6453
| 5188 |
4181
|
Copyright © 2012 Northwest Multiple Listing Service
