Bob’s Bugle – Real Estate Newsletter – May 2008

 

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Bob Chapman
Managing Broker

Windermere Real Estate
Lake Stevens, Inc.

9327 4th St. NE, Ste #3
Lake Stevens, WA 98258
USA
Ph: (425) 268-2940
Fax: (425) 335-1838

Contact Me


Bob's Bugle Real Estate Newsletter May 2008REAL ESTATE NEWS & INFORMATION

 

May 12, 2008

*Northwest MLS Brokers Report Highest Volume of Pending Sales in Eight Months*

KIRKLAND, Wash. (May 5, 2008) – Pending sales during April reached their highest level in eight months, according to the latest figures from Northwest Multiple Listing Service, which covers 19 counties in western and central Washington.

Brokers reported 6,208 pending sales (offers made and accepted, but not yet closed) last month. That was the highest number of transactions during one month since August, when MLS members notched 7,751 pending sales of single family homes and condominiums. Compared to the same month a year ago, pending sales were down about 32 percent.

Other indicators tracked by the multiple listing service were mixed.  Prices for sales that closed during April were down about 5.5 percent compared to a year ago, but a look at more recent months shows stable price in many areas – especially compared to most metropolitan areas around the country.

In the four-county Puget Sound region, prices have shown little fluctuation since August when they started slipping during the subprime mortgage meltdown. In King County, the median price for last month’s closed sales of single family homes and condos was $410,000. That’s up slightly (0.67 percent) from 12 months ago and only $5,000 below the price reported for August 2007.

SFH & Condos

Aug 2007
Sept
Oct
Nov
Dec
Jan 2008
Feb
Mar
Apr

King

$415,000
$395,000
$387,500
$385,990
$389,500
$395,000
$395,000
$405,000
$410,000

Snoh

$352,475
$344,500
$352,874
$355,000
$339,675
$344,500
$329,950
$335,000
$330,000

Pierce

$285,000
$269,925
$266,157
$262,950
$269,950
$260,000
$260,000
$258,405
$263,051

Kitsap

$299,950
$317,200
$285,000
$265,000
$265,500
$279,000
$253,000
$277,637
$268,650

House hunters continued to have plenty of choices last month as NWMLS members added 13,607 new listings during April, about 9 percent less than twelve months ago. For the same month a year ago, they added 14,930 (1,323 more) listings to the MLS inventory.

At month end, there were 49,141 single family homes and condos offered for sale in the MLS system.

A year ago, the inventory consisted of 38,408 listing. Compared to this time last year, inventory is up 27.9 percent. On a percentage basis, that’s the smallest jump since June 2006, when inventory grew by 25.7 percent over the prior year.

Referrals are a “very” important part of my business. Please let me know of anyone that you know who may be considering Buying or Selling real estate – or please give them my name and contact information!

Thank You!

Bob Chapman

Bob’s Bugle Real Estate Newsletter May 2008

Statistical Summary by Counties: Market Activity Summary for April 2008

April 2008

Single Family Homes + Condos

LISTINGS

PENDING SALES

CLOSED SALES

New Listings

Total Active

# Pending Sales

# Closings

Average Price

Median Price

King

5169
15359
2419
2020
$498,861
$410,000

Snohomish

2038
7156
902
732
$361,964
$330,000

Pierce

2210
8332
1041
894
$294,262
$263,051

Kitsap

618
2701
262
242
$346,176
$268,650

Mason

201
889
77
69
$248,063
$197,900

Skagit

300
1366
136
113
$291,781
$241,970

Grays Harbor

204
939
80
68
$164,565
$144,800

Lewis

162
747
63
62
$215,863
$189,500

Cowlitz

177
811
87
83
$198,318
$173,000

Grant

168
703
67
60
$166,151
$142,250

Thurston

620
2123
365
284
$283,909
$262,725

San Juan

72
398
12
9
$570,111
$571,000

Island

236
1188
101
75
$314,478
$275,000

Kittitas

146
646
46
35
$267,215
$235,000

Jefferson

91
522
25
35
$318,778
$299,950

Okanogan

74
451
29
21
$210,095
$180,000

Whatcom

532
2157
259
225
$297,778
$265,000

Clark

208
911
86
67
$304,901
$247,900

Pacific

64
415
28
10
$174,050
$149,000

Others

317
1327
123
104
$226,485
$197,500

MLS TOTAL

13,607
49,141
6,208
5,208
$377,800
$310,000

 

4-County Puget Sound Region Pending Sales (SFH + Condo combined)
(Totals include King, Snohomish, Pierce & Kitsap counties)

 

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2000

3706

4778

5903

5116

5490

5079

4928

5432

4569

4675

4126

3166

2001

4334

5056

5722

5399

5631

5568

5434

5544

4040

4387

4155

3430

2002

4293

4735

5569

5436

6131

5212

5525

6215

5394

5777

4966

4153

2003

4746

5290

6889

6837

7148

7202

7673

7135

6698

6552

4904

4454

2004

4521

6284

8073

7910

7888

8186

7583

7464

6984

6761

6228

5195

2005

5426

6833

8801

8420

8610

8896

8207

8784

7561

7157

6188

4837

2006

5275

6032

8174

7651

8411

8094

7121

7692

6216

6403

5292

4346

2007

4869

6239

7192

6974

7311

6876

6371

5580

4153

4447

3896

2975

2008

3291

4167

4520

4624
        

This information is from the Northwest Multiple Listing Service which is the largest full-service MLS in the Northwest. Based in Kirkland and owned by its member brokers, it currently encompasses more than 2,100 companies with approximately 31,000 sales associates. Together, they serve 19 counties, mostly in western Washington, plus Grant, Kittitas and Okanogan counties in the central part of the state. NWMLS recently added service to Clark County with the opening of an office in Vancouver.

Bob’s Bugle Real Estate Newsletter May 2008, copyright 2008. All material contained herein is owned and protected. Any attempts to reproduce this information without the express written consent from the owner will be prosecuted.

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Let a trained professional Windermere agent, Bob Chapman, assist you in your Snohomish County real estate home or vacant land buying or selling transaction.

This Snohomish County real estate website page also has a home loan or mortgage calculator.

Please visit the links pages in the navigation bar. There you will find links to:  Snohomish County & Washington State School Districts information which includes the official websites of School Districts in Snohomish County and Washington State; The official Washington State government website, Snohomish County & City government websites and Valuable Real Estate Informational and Resource links.