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Report: December Stats Point to Ongoing Real-Estate Rebound

Pending sales in Western Washington have outnumbered new listings for four consecutive months, according to the Northwest Multiple Listing Service.

First-time home buyers are continuing to help fuel a rebound in Western Washington's housing market, according to a December report from the Northwest Multiple Listing Service (NWMLS).

NWMLS, which includes local real estate agents and brokers, said buyers made offers on 5,314 residences last month while 3,857 owners listed their homes for sale. This marks the fourth consecutive month that offers have outnumbered new listings.

The number of pending sales dropped from November's total of 6,522, but NWMLS attributed the decrease to a routine seasonal slowdown at the end of the year. Last month's figure marks a "modest increase" of 1.5 percent from December 2011.

Meanwhile, inventory is continuing to thin out and prices are creeping up. The median sale price in the NWMLS service area rose from $225,000 to $255,000 in the last 12 months.

Market Activity Summary, December 2012 (source: NWMLS) 

Single Fam. Homes + Condos 

LISTINGS 

PENDING SALES 

CLOSED SALES 

New Listings 

Total Active 

# Pending Sales 

# Closings 

Avg. Price 

Median Price 

King 

1,378 

3,801 

2,056 

2,188 

$425,210 

$342,000 

Snohomish 

581 

1,513 

872 

892 

$279,231 

$254,975 

Pierce 

701 

2,734 

986 

808 

$232,956 

$200,563 

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How would you evaluate our local housing market? Tell us in the comments section.

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