April RMLS Market Analysis

April RMLS Market Analysis

April’s market numbers are showing a stronger market than we’ve seen in the last few months. This is typically the busiest time of the year in the Northwest, so it’s not unexpected to see a stronger April than March. Last month both new listings and pending sales were down, so now we’re seeing the effect of that in a drop in Closed Sales during April. Fortunately, both listings and Pending Sales were up in April compared to last year (5.5% and 3.1%, respectively). In fact, we had more new listings in April than we’ve had in any April since 2010, so we should see Closed Sales increase next month as a result.

The Median Sale Price increased slightly over last month ($6,000), but is exactly the same as it was this time last year at $405,000. Again, this is a sign of a more balanced market that’s not seeing large price increases year-over-year anymore. As we push through the busy season we expect to see the Median Price continue to rise a bit for the next couple of months before it drops again in the slower fall and winter seasons.