Real estate agent members of Northwest Multiple Listing Service are reporting positive gains in activity. Pending sales for February increased more than 27 percent from a year ago, more sellers are listing their homes, and brokers are reporting an uptick in multiple offers.
“Buyers are beginning to realize that we may have seen the bottom of this real estate market,” remarked Frank Wilson, a Pulsobo-based member of the Northwest MLS board of directors. “Waiting to buy may only result in paying a higher interest rate, having fewer houses to choose from, or finding that sellers do not need to give up as much as they have in the past.”
Brokers reported 7,623 pending sales during February, the highest volume since August when there were just nine more mutually accepted offers. Last month’s tally jumped 27.4 percent from 12 months ago, with 20 of the 21 counties in the MLS service area reporting double-digit gains.
Total active Pierce County single-family and condo listings are down 22 percent from a year ago and the number of closed unit sales is up 9.7 percent over 2011 year-to-date.
In Thurston County, there were 205 fewer listings at the end of February and 56 more units in the pending sales category for houses and condominium units.