Significant Signs of Market Improvement in June

by Coldwell Banker Evergreen Olympic Realty, Inc. on July 7, 2009

The housing numbers for June shows significant improvement in the local market. Over the past several months we’ve witnessed improvements in a couple of key categories. Inventory levels have been down and pending sales have been on the rise.

Until now, however, closed sales lagged 2008 figures by a significant margin. Through May of 2009 homes sales were off 24% from the same period a year ago. In June, however, closed sales are up from a year ago.

While the increase is not huge, 303 sales this year vs. 299 last year, it is just the third time in the last 29 months that a current month has bested the prior year’s figure. The others were January 2009 and February 2007.

The biggest reason for the uptick is price. Buyers are seeing the values and they are acting on it. The county’s average sales price year to date is now $262,460, down 9% from the year ago when prices averaged $288,854.

Statistics compiled by Coldwell Banker Evergreen Olympic Realty, Inc. from the NWMLS database. Statistics not compiled or published by NWMLS.

Leave a Comment

Previous post:

Next post: