Below is an excerpt from the Regional Multiple Listing Service’s most recent “Market Action” report that comes out monthly and is e-mailed to all member Realtors. This is data specific to the Southwest Washington Area market.
April Residential HighlightsApril brought some cooler real estate activity to Southwest Washington. Closed sales, at 582, fell 16.5% short of the 697 closings recorded last year in April 2016, and 9.3% short of the 642 closings recorded last month in March 2017. Pending sales (790) fared similarly, showing a 12.0% decrease compared to April 2016 (898) and a 4.6% decreased when compared to last month in March 2017 (828).New listings, at 916, fell 11.9% short of April 2016 (1,040) and 5.0% under March 2017 (964).Inventory rose slightly in Southwest Washington this April, ending at 1.9 months. Total market time was 56 days in April, down from 67 days in March.
Average and Median Sale PricesComparing the average price of homes sold in the twelve months ending April 30th of this year ($336,700) with the average price of homes in the twelve months ending April 2016 ($308,600) shows an increase of 9.1%. The same comparison of the median shows an increase of 9.2% over that same period.
Area ReportBelow is a table with data from the RMLS. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market: