April Home Sales Strong

by Coldwell Banker Evergreen Olympic Realty, Inc. on May 6, 2010

Home sales in Thurston County were very robust in April. Pending sales, which are accepted offers that are not yet closed, were up over 30% from a year ago. The 445 sales for the month of April were the second highest number on record. Only April 2006, the peak year of the overheated market, saw more sales.

While we did not see the tax credit create many new buyers, the deadline for the credit (which expired April 30th) probably did move some buyers to act more quickly. The pending sales figures in May should reveal if the tax credit bumped up the April pending sales.

Still, the primary motivation for most buyers right now is the affordability of homes. The average sales price in April was $242,679. Prices seem to be stabilizing, down just a shade over 1% from April 2009. At the peak, the average price was right around $300,000. As a result, closed sales were also up signifcantly over last year. There were 255 closed sales in the month, a 33.5% jump from April 2009.

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