Statistics: From the Puget Sound to Kenmore, WA - Some good news
Local real estate leaders have tried to put a positive spin on the current sales figures in the NWMLS. They have chosen their words carefully by indicating that the market has become more “balanced” and that sales have “climbed” to their highest level in 10 months. Basically, the market remains lethargic.
An analysis of the Northwest MLS database for June activity shows a 5.9 month supply in King County, a 6.7 month supply in the 4-county Puget Sound region (King, Snohomish, Pierce and Kitsap counties), and a 7.4 month supply system-wide (19 counties).
One thing to keep in mind is that the Puget Sound has not experienced the hard landing that so many other urban areas have. Our local economics are still strong and people keep moving here.
Let’s be clear about the numbers: yes, homes are selling, but if you take an honest look at the chart above it’s sobering to see how the “climb” suggested by the MLS is more like a crawl.
On a brighter note there has been some good activity in Kenmore:
The charts above show that Kenmore is moving some inventory. 50 pending sales is good news. Sales aren’t exactly brisk but they are selling. If you’d like more information regarding Kenmore, please call me at 20.713.2102 or email me at jlupori@comcast.net.
