Monthly Archives: December 2014

Area Brokers Say Showings, Offers Still Going Strong

KIRKLAND, Washington (Dec. 4, 2014) – Buyer interest remains high and many good values exist for
those whose holiday wish list includes a new home, according to brokers with Northwest Multiple Listing
Service. A new report from the MLS summarizing November activity shows year-over-year gains in
pending sales, closed sales and median prices.

The report encompasses 21 counties, mostly in Western Washington.

“During the holidays we usually see a drop in home buyers, but this year they’re remaining engaged later
than usual. Both showings and offers are still going strong,” reported Northwest MLS director OB Jacobi,
president of Windermere Real Estate. He said recent purchasers include people relocating to Seattle as
well as international buyers “who aren’t showing any signs of slowing.”

Attractive financing is luring both first-time and move-up buyers.

“The holiday season is in full swing and the most special gift this year is that interest rates have dropped
down to touch the upper 3 percent range. Interest rates at this low level are considered unbelievable,” said
J. Lennox Scott, chairman and CEO of John L. Scott Real Estate.

Northwest MLS figures show pending sales (mutually accepted offers) for November jumped nearly 3
percent from twelve months ago, rising from 6,624 pendings to 6,821. For the four Puget Sound region
counties (King, Kitsap, Pierce and Snohomish) the total of 5,220 pending sales marked the highest level
for November since 2006 when these counties reported 5,292 sales.

“There may be a chill in the air – but not in the real estate market in Kitsap County,” observed Frank
Wilson, branch managing broker at John L. Scott’s office in Poulsbo. He noted the year-to-date number
of new listings added in that county year-to-date (4,963) is nearly equal to the number of listings that have
gone under contract (4,864). “This is why we are beginning to see home prices edge up,” suggested
Wilson, a member of the Northwest MLS board of directors.

The median price for homes and condos that sold during November in the Northwest MLS service area
was $289,000. That reflects an increase of more than 6.6 percent from the year-ago sales price of
$271,061. Ten counties experienced double-digit gains, while two had price drops compared to the same
month a year ago.