NWMLS statistics released recently point to a number of statistics showing a strong resurgence in the real estate market.
- In February, pending home sales increased 27.4% compared to last year
- 20 of 21 counties in the NWMLS service area showed double digit gains
- Lake Forest Park, Central Seattle, and Normandy Park all marked sales gains of over 50%
- Inventory of homes available for sale in the NWMLS territory is down 22.5%
- Inventory in King County is down 32.3% and in Snohomis County is down 38.2% since last year
Rising sales and shrinking inventory can only lead to rising prices in the long-term. Distressed properties will still drag on the market, but other forces seem to be taking over, and we are just starting the Spring selling market.