When sales begin to increase in the Spring we often attribute it to an improvement in weather...but we can't really use that excuse given the snow and heavy rains we've had this month.
But do we really need to attribute the nearly 32% increase in pending sales this month over last to anything other than incredibly low, bargain basement pricing, amazing (think 5 or just under) interest rates and very motivated sellers?
Pending sales (those with mutually accepted contracts) have risen by 32% in the Maple Valley market this month over last.
Of these sales however, the median price has fallen from $326,250 to $299,950-most likely reflecting the high percentage of short sales and bank owned homes.
Over 65% of the pending sales in our area are properties priced under $350,000.
If you're selling in the higher price ranges....hang in there! Eventually there will be a trickle up but it's going to be a slow process.
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Colleen Fischesser is the Broker/Owner of RE/MAX Select in Maple Valley, WA. She has been successfully selling and marketing properties all over South King & North Pierce counties since 1990 but specializes in the Maple Valley Washington area. She may be contacted directly at: 425-432-5400
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