Dramatic Increases In Inventory

The Northwest Multiple Listing Service sends a monthly press release with a summary of market activity, and it is continually updated on our site.

Check out the May release, which shows a 21% increase in regional inventory compared to the prior year, with higher county-wide increases in Grays Harbor (up 63.4 percent), Thurston (up 60.9 percent), Kitsap (up 35.2 percent), Pierce (up 29.2 percent), Island (up 26.6 percent) and Kittitas (up 25 percent).

What does this imply for you?

While the NWMLS stats show a more balanced market (compared to the stampede of buyers many experienced in 2005), our customers are generally showing strong results. Our records indicate that our sellers who have closed sales in 2006 had a median marketing time of 27 days (on $58 million in sales), slightly up from 26 days for the first four months of 2005. Our 34 sellers presently in the closing process (past inspection) had a median marketing time of 17 days.

For more information, the NWMLS updates market data between the 5th and 10th of each month.