May of 2007 was a hot month for real estate, 7311 units went pending that month. May 2012, 7295 units went pending and was the second hottest month since then, just off the peak month of April 2011.
All of King county is crying for more inventory and median prices are creeping and in some areas leaping up! Area 530 saw an increase of nearly 20%. Countywide median prices bumped up 4.93% and Eastside 1.22%
Some outlying areas are not feeling the boost. As always real estate prices are neighborhood specific.
Multiple offers continue to be the trend while 48.25% of listings sold in the first month during April. Both buyers and sellers require preparation, not everyone is aware the bottom was hit last fall and most of the screaming deals are gone. Several sellers who could not sell last year or in 2010 have been pleasantly surprised with quick sales this year enabling them to move up.
June sales may tick down in units, typical most years but the current pace does not feel typical so stay tuned.
| Residential | Condo | |
|
Current Residential Active Eastside/King County Listings |
1788/5039 |
572/1553 |
|
New Eastside/King Listings in The Month |
1011/2928 |
253/674 |
|
% of change in Active Listings 2011-2012 East/King |
-34.29/-37.44 |
-21.25/-32.32 |
|
Pending Eastside 2012 |
1012 +25.71% |
291 +21.25% |
|
Closed Eastside 2012 |
651 +19.01% |
222 +18.72% |
|
Closed King 2012 |
2056 +24.3% |
562 +24.89% |
|
Median Sales Price Eastside/King |
$500,000/$362,000 |
$230,000/$210,000 |
|
% Change in Median Price Eastside/King |
1.22 /4.93 |
1.1 /-2.33 |
When you know someone that I can help, please let me know.