January showed a strong start to 2014 throughout most of the Puget Sound region with more pending sales for the month than in January 2013. The inventory of homes for sale, while still very low, appears to be increasing—which is a very good thing—providing more homes for buyers to choose from. Median prices posted solid gains in all areas except Mercer Island—which has volleyed from a median of $900,000 to $1,055,000 throughout the past year—landing at $970,000 for the month of January. Here’s a quick summary of the year-over-year data.
MEDIAN SALES PRICES January 2013 January 2014
King County $397,000 $450,000
Eastside $513,000 $600,000
Mercer Island $1,055,000 $970,000
Seattle $397,000 $450,000
Data prepared and analyzed by Julie Barrows, owner of Windermere Real Estate/Mercer Island http://www.WindermereMercerIsland.com. For questions or comments, email Julie at email@example.com.