Well, it’s been awhile since I blogged – welcomed a new little one March 1st and life’s been crazy, but here is a little update on the market per my website stats
For month of MARCH 2013 for Whatcom County:
Total Pendings: 262
Total Solds: 169
Total Active: 1044
How does this fare with past months and vs same month one year ago?
March 2013 vs February 2013
Pendings: up 35.1%
Solds: up 37.4%
Total Active: up 8.8% (sellers are listing for Spring)
March 2013 vs March 2012 (one year ago comparison)
Pendings: up 48.9%
Solds: up 1.2%
Total Active: down 5.1% (due to decreasing inventory we are currently seeing in market)
Conclusion: Homes are selling much more quickly in comparison to last month, much the less last year. Inventory is down from last year and we will see this create more competitive offers (we’re even seeing multiple offers again), homes pending faster, and less options for buyers currently looking. If you are a buyer, get out and find your dream home before interest rates increase and inventory reduces even more (although you will see slight increase as we enter into Summer). If you are a seller, depending on how unique your home is to the market it may be the perfect time for you to list and sell quickly and for more than the last year.