The new stats came out, and we finished 2011 strong!
In 2011, there were 112,578 closed transactions, up 7% from 2010. On top of that, the total number of pending sales in December exceeded the number of new listings taken in December, and this is the 2nd month in row that this has happened. The last time this occurred was November 2006.
Inventory, is dropping, too. There was 17% less inventory this past December than in December 2010. This increase in sales and drop in inventory is causing some areas to move into a seller’s market. For King County overall, there is a 3.6 month supply of inventory, but there are areas in South King County (most notably Renton and Federal Way) where the supply is less than 3 months.
These stats are great news. Click Here to Download the file for a full rundown of all the details.
2012 is going to be a great year!