With the holidays upon us, people have been focusing their attention on their families and the season’s festivities. How did this affect the home sales for October? Find out with these statistics from the Northwest Multiple Listing Service (NWMLS).
Puget Sound Home Sales Report
The trend for increased home sales and lower inventory, when compared to the same date last year, continued through October. Read on for a snapshot of the region’s home sales market for last month.
• In October there were a total of 8,989 homes were closed, a 5 percent increase when compared to the previous year.
• The entire region’s home prices, values rose by 15 percent when compared to last year; a 3 percent increase from September.
• For October there were 13,680 active homes on the market, a drop of 13 percent drop when compared to the same time last year.
• On October 31st, the available home inventory for the entire region was estimated at 1.5 months. The entire region is continuing the trend of a seller’s market.
Thurston County Home Sales Report
Here’s a closer look at the home sales market for Thurston County.
• On October 31, 2017, there were a total of 679 active listings in Thurston County, this was a decrease of 216 listings from the previous year.
• With fewer homes being put up for sale, listings spent 79 days active on the market.
• Total closed sales for October were 4,619; this is an increase of nearly 600 homes when compared to last year.
• Last month, the median home price rose by 5 percent for Thurston County when compared to the year before.
• For the month of October available home inventory remained nearly the same as September at 1.2 months of homes.
Are you surprised local home sales continue to show rising prices and low inventory? Share your thoughts with me in the comments below.
Karin Zeigler brings a wealth of knowledge and expertise in buying and selling residential real estate in the South Puget Sound area including Thurston, Mason, Lewis and Pierce counties. Whether you’re looking for a first house, downsizing, or have special circumstances such as military loans, Karin can help you find your dream home. Contact her today, or call 360-870-6249, to start your home buying or selling process.