August real estate activity described as both “robust” and “stagnant”
KIRKLAND, Washington (Sept. 6, 2017) – As smoke and ash blanketed parts of Washington state, one real estate broker noted, “Even in a fire there are some cooler spots, and seasonally, the housing market is in a cooler spot.”
The latest numbers from Northwest Multiple Listing Service show there are both cooler spots and hot spots, with the demand for housing and prices showing few signs of being extinguished.
“For August, we experienced a more robust market than anticipated,” remarked Diedre Hanes, principal managing broker-South Snohomish County at Coldwell Banker Bain in Lynnwood. “Compared to years past, we’ve seen very limited slowdown,” she added.
Pending sales area-wide during August totaled 11,867 transactions, barely exceeding the number of new listings (11,781) added during the month. At month end, there were 15,987 total active listings in the MLS database, a shrinkage of 12.8 percent from a year ago.
Sparse inventory is a likely factor in the flat pending sales, with year-over-year pending sales for all areas down .09 percent (11,867 versus 11,878). Of the 23 counties in the Northwest MLS report, 15 had fewer mutually accepted offers last month compared to twelve months ago. Last month’s total was up slightly from July’s figure of 11,800. View the full press release
Information and statistics compiled and reported by Northwest Multiple Listing
Service. Northwest Multiple Listing Service, owned by its member real estate firms, is the largest full-service MLS in the Northwest. Its membership of nearly 2,100 member offices includes more than 25,000 real estate professionals. The organization, based in Kirkland, Wash., currently serves 23 counties in Washington state.
Click here for the full report and neighborhood statistics!
Average Sale Price % of Listed Price by Area
Our analysis shows every region’s average sale price as a % of the list price. While every house and situation is different, the averages give us an overall scope of the market.
West Seattle 104%
Renton Highlands 102%
South Seattle 103%
Central Seattle 103%
Eastside South 102%
Mercer Island 100%
West Bellevue 93%
East Bellevue 104%
E Lk Sammamish 101%
Queen Anne 102%
North Seattle 105%
Bellevue Condos 103%
Seattle Condos 103%
© Copyright 2017, Windermere Real Estate/Mercer Island | (206) 232-0446 | firstname.lastname@example.org | 2737 77th Ave SE, Mercer Island, WA 98040. Information and statistics derived from Northwest Multiple Listing Service.