There were fewer April home sales in King County compared with a year ago, but the average home sale price rose dramatically.
In King County, there were 1,896 home closings last month, compared with 2,096 a year ago, but the average home sale in April was $410,289, up from $408,715 in 2010 and $394,918 in March 2011.
Brokers surveyed by the Northwest Multiple Listing Service (NWMLS) said the lower number of homes on the market is leading to a competitive market, with sellers receiving multiple offers from buyers on their homes.
One optimistic broker is J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, who said in a statement that “with healthy sales activity over the last several months, a shortage of homes coming on the market and low foreclosure activity, the stage has been set for a multiple offer market.”
NWMLS data from the 21 Western Washington counties it surveys indicate that there were 10,083 new listings in April, compared with 12,664 a year earlier. Total inventory in the NWMLS-surveyed area is down 13 percent from a year earlier.
Posted via Seattle Real Estate-Seattle Homes For Sale
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