Western Washington housing market in "recovery mode" but some brokers say it's still not at full potential

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NWMLS, Kirkland, WA - August 6, 2014 – More sellers listed their homes for sale during July compared to a year ago, but brokers with Northwest Multiple Listing Service say inventory remains “well below” what is considered to be a balanced market. Last month’s pending sales rose slightly from a year ago while prices system-wide increased nearly 6.3 percent.

No summer slowdown expected as brokers report brisk activity

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NWMLS, Kirkland, WA - July 3, 2014 – Listing activity perked up during June, but strong job growth in the Seattle/King County region has brokers predicting brisk sales with competitive bidding throughout the summer.

Figures just released by Northwest Multiple Listing Service for June activity show gains from a year ago on several key indicators, including inventory, pending sales, closed sales, and prices:

Housing Market Righting Itself as Buyers, Brokers Get Creative to Compete

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NWMLS, Kirkland, WA - June 4, 2014 – Housing around Western Washington is on an upward trajectory, but inadequate inventory “in the right prices and locations” makes for a “very difficult market for purchasers and brokers,” according to an executive with one multi-office real estate company.

New figures from Northwest Multiple Listing Service show inventory increased in May compared to a year ago, but brokers say competition is keen. “Multiple offers and escalation clauses occur on a regular basis for properties that are extremely well priced and in great condition,” reports Dick Beeson, principal managing broker at RE/MAX Professionals in Tacoma.

Housing activity ranges from "red hot" to "slowly healing"

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NWMLS, Kirkland, WA - May 6, 2014 – Brokers report some skittishness among both buyers and sellers, but the latest statistics from Northwest Multiple Listing Service indicate the housing market is continuing to rebound. Both the number of pending sales and the number of new listings added to inventory during April reached their highest levels in 11 months.

Closed sales of single family homes and condominiums were slightly below the year-ago volume, while the median sales price rose slightly (up about 1.9 percent).

Northwest MLS brokers report mixed results for March, but suggest “only lack of inventory is holding back sales”

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NWMLS, Kirkland, WA - April 3, 2014 – Northwest Multiple Listing Service brokers reported rising prices on fewer sales during March compared to a year ago, citing inventory shortages as the main reason.

Members of the MLS reported 9,183 pending sales (mutually accepted offers) during the month, about 300 fewer than the same period a year ago for a 3.2 percent drop. Compared to February, pending sales surged 26.7 percent in March, or by 1,936 transactions.

Home Sales Shrink as Buyers Take a Timeout...due to Inventory shortages, Seahawks Playoffs

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NWMLS, Kirkland, WA - March 4, 2014 - Northwest Multiple Listing Service brokers reported 507 fewer pending sales during February than the same month in 2013, but members believe the 6.5 percent decline isn't due to a shortage of buyers. "If we just had enough homes to sell we would easily be outpacing last year's pending numbers," said Mike Gain, CEO and president of Berkshire Hathaway HomeServices Northwest Real Estate. "Locally, we are literally starving for inventory," he added.

Western Washington housing market..."definitely in full recovery mode"

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NWMLS, Kirkland, WA - February 5, 2014 - Home sales during January may not have been as super as the Seahawks' performances, but brokers cite several reasons for optimism during 2014. "We are finally going to be looking at the 'housing crisis' in the rear view mirror," said Mike Gain, CEO and president of Berkshire Hathaway HomeServices Northwest Real Estate. "In 2014 we are definitely in full recovery mode," he added.

Following the usual pause during the holidays, activity picked up during January when members of Northwest Multiple Listing Service reported 7,044 pending sales, about even with the same month a year ago, and a jump of nearly 35 percent from December's total of 5,224 mutually accepted offers.

Brokers report nearly $25.5 billion in 2013 sales outgaining 2012 in homes sold and dollar volume

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NWMLS, Kirkland, WA - January 22, 2014 - Members of Northwest Multiple Listing Service reported 75,517 closed sales during 2013, surpassing the 2012 volume by around 11,000 transactions for an increase of nearly 17 percent. Measured by dollars, last year's sales of single family homes and condominiums were valued at nearly $25.5 billion to outgain the previous year by more than $5.5 billion (up 27.4 percent).

“Stage is set for another good year” in real estate with year-end gains in inventory, sales, prices

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NWMLS, Kirkland, WA - January 6, 2014 - Brokers with Northwest Multiple Listing Service ended 2013 with the best year-over-year improvement in inventory (up 8.4 percent) and a similar gain in closed sales to buoy confidence heading into the new year. December’s pending sales slipped slightly (down about 1.7 percent) compared to the same month a year ago.

Home sales “chugging along,” as recovery continues, but brokers expect prices, mortgage rates to rise in 2014

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NWMLS, Kirkland, WA - December 4, 2013 – Improving inventory, stabilizing prices, fewer short sales, and a healthy local economy are credited with keeping the real estate market “chugging along nicely” around western Washington, according to brokers with the Northwest Multiple Listing Service.

The latest figures from Northwest MLS show year-over-year gains in inventory (up 4.8 percent), pending sales (up nearly 1.6 percent), closed sales (up 5.3 percent) and median selling prices (up 4.86 percent).