Brokers detect good news for home buyers,
citing gains in listings and moderating prices

April’s month-end inventory of 5,616 listings was a year-over-year drop of 45%.

16 of the 26 counties in the report had at least a 20% increase in active listings at the end of April compared to March.

Pending sales continue to surge, keeping inventory depleted. Brokers reported 10,583 pending sales during April, up nearly 47% from a year ago.

Even with some improvement in listings, the MLS report shows only 9 counties have more than one month’s supply of inventory. Areawide, there is only 0.64 months of inventory, with even less supply (0.57 months) in the four-county Puget Sound region.

With supplies depleted, prices continue to climb. Brokers reported 8,791 closed sales of single family homes and condos during April, nearly 50% higher than the year-ago total of 5,866 completed transactions. Year-over-year prices on closed sales surged 25%, from $452,030 to $565,000.

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Source: NWMLS 5/5/21