Northwest Washington Association of Realtors - Enhancing members ability to conduct business professionally, ethically, and profitably since 1979
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June 2015

We saw a bit of a slow down during the month of June compared to May, however, it was still a very active market.  As of July 6th, 2015 we are holding strong at 1,136 total active listings.  Of those, 131 are new, 65 are pending and 65 are sold.  The average sale price for residential listings was up slightly at $158,535 from this time las year, which is music to our seller's ears after spending the past few years watching prices dive lower and lower.

After taking a closer look at the year over year comparison, it is easy to see why prices are on the rise.  While the need for homes continues to grow, we are still seeing very few new listings come on the market.  This imbalance between supply and demand is driving prices higher as we are seeing more multiple offer scenarios taking place.  In June 2015 the market was down 17% in active listings and down 33% in new listings compared to June of 2014.  in contrast, we saw total sold listings up 16%, sold vloume up 24% and the average sales price increased by 7% from last year.  These numbers appear to be leaning toward a seller's market, but alot can happen from month to month.  It will be interesting to see what July's numbers will be.