The Northwest MLS has released their Western Washington real estate statistics for May 2010. Not surprisingly, sales activity declined after the home buyer tax credit expired on April 30. Median and average sale prices in King County continue to move in a fairly narrow range, with small upticks in median and average sale prices over April. Closed sales were up 38% over May 2009, but pending transactions were down 22% from a year ago and down a fairly drastic 44% compared to pending sales in April. Clearly there was a big push by many buyers to get into contract on a home before the tax credit expired. Inventory of homes for sale increased over April, but remains largely unchanged compared to last year at the same time.
King County Data for May 2010
- King County media prices are down 1.56% from twelve months ago.
- There were 2,233 closings in King County for single-family homes and condos, up 38% from a year ago.
- Pending sales for King County are down 22.6% from the same time last year and down 44% compared to April 2010.
- There were 13,345 active listings in King County for May 2010, down 1.4% from a year ago.
We have seen these activity trends mirrored in our own business, which was unseasonable strong in February-April 2010. While there was a lull immediately after the tax credit, our own internal forecasts and trends point to a gradual increase of buyers as we enter the summer. Follow the findwell blog for future monthly statistical updates.
Previous monthly updates:
- Northwest MLS statistics – March 2010
- Northwest MLS statistics – February 2010
- Northwest MLS statistics – January 2010
- Northwest MLS statistics – December 2009
- Northwest MLS statistics – November 2009
- Northwest MLS statistics – October 2009
- Northwest MLS statistics – September 2009
- Northwest MLS statistics – August 2009
- Northwest MLS statistics – July 2009
- Northwest MLS statistics – June 2009
- Northwest MLS statistics – May 2009
- Northwest MLS statistics – April 2009
