Local Market Update {February 2015}

Windermere has just released its January statistics and they're reflecting huge activity to start of the new year!

The market saw year-over-year increases in pending sales, closed sales and home prices. Mortgage rates hit a 20 month low. The one cause for concern continues to be inventory not keeping up with demand.

• The number of closed sales were slightly higher than a year ago, and the number of pending sales made it the best January in 15 years!

• Home prices throughout King County continued to climb.

• Supply of inventory feel by double digits.

Eastside graph

Click the image to view the full report.

 

The Eastside saw significant boost in home prices due to high demand and low supply of homes. The median price of single family homes sold on the Eastside in January was $625,000, an increase of about four percent over last year. Inventory continued to drop to a two month supply.

Make sure you check out the full Local Market Update {February 2015}.

VA Loan

Are you ready to buy a home and qualify for the VA loan? Let me help you out! As a local real estate broker in Bellevue, WA and a Veteran of foreign wars, I am committed to helping you find the home you deserve through the VA loan.

Posted on February 20, 2015 at 9:45 am
Steve Harwood | Category: Home Buying, Home Selling | Tagged , , , ,

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