EVERETT — The housing market in Snohomish County and around metro Puget Sound finished strong in 2014.
Residential sales and median home prices climbed in December compared to the same month last year, according to data released Tuesday by the Northwest Multiple Listing Service.
Across the 23 counties included in the NWMLS survey, pending sales increased by nearly 11 percent, closed sales were up 10 percent and the median price — $290,000 — was 5.45 percent higher than the $275,000 median price in December 2013.
In Snohomish County, December’s pending residential sales — which includes homes and condominiums — increased 14.5 percent compared to the same month last year. Closed sales went up by 5.6 percent, and the median price went from $290,000 in December 2013 to $318,250 last month, an increase of 9.7 percent.
But while more houses and condos sold, new listings did not keep pace. The county’s only has enough homes for sale to feed demand for about two months, according to NWMLS. King County has lowest supply of listings. It has less than six weeks of supply.
Diedre Haines, who is Coldwell Banker Bain’s principal managing broker for South Snohomish County, said she expects “sustained demand” in 2015.
While demand is outpacing supply, sellers should be realistic about their asking price, she said. Buyers are serious about making a purchase, but they are in no mood to play games as they are very well educated regarding price. If the house is overpriced — even by a small amount — buyers will simply not make offers.”
Dan Catchpole: 425-339-3454; dcatchpole@heraldnet.com; Twitter: @dcatchpole.
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