The absorption rate based on pending home sales continues to be off the charts with listing inventory very low and sales activity brisk. Overall, prices have continued to slip slightly in all areas except Seattle Metro–which actually saw prices rise. Of note however, is the fact that distressed properties have sold for significantly less than non-distressed homes for sale.
Data prepared and analyzed by Julie Nugent for Windermere Real Estate/Mercer Island. For questions or comments, email Julie at firstname.lastname@example.org.