NWMLS Report: Home Sales Outpace New Listings

By on December 16, 2011 in Market Update with 0 Comments

Home sales outpace number of new listings for first time in five years

NWMLS KIRKLAND, WA. (Dec. 5, 2011) – Northwest Multiple Listing Service members reported 6,103 pending sales during November, marking the seventh straight month of double-digit year-over-year increases.

Last month’s total number of mutually accepted offers was 22.4 percent higher than the same month a year ago. It also marked the first month since December 2006 that the number of pending sales surpassed the number of new listings (6,043), prompting discussions of possible inventory shortages.

“As we head toward the end of the year, it’s certainly good to see a healthy number of buyers relative to the available inventory for sale,” said Mike Grady, president and chief operating officer of Coldwell Banker Bain. “In fact,” he noted, “there are some desirable neighborhoods in urban core areas where the case could be made there are too few homes currently for sale.”

At month end, there were 30,650 residential listings in the MLS inventory across 21 counties, down nearly 17 percent from a year ago. For the listing service map areas covering Seattle, the database shows a year-over-year drop of about 32 percent.

Continue reading the NWMLS November 2011 housing news release – click to download (pdf)

About the Author

About the Author: Ben Kakimoto is a Seattle Realtor with Keller Williams Realty specializing in urban real estate properties through the Seattle metropolitan area. Ben can be found online on Google+. .


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