At the close of the year, just 2,945 houses were on the market in King County. That’s 46% less than at the close of 2011! November of 2012 was the first time in more than a decade that this figure was below 4,000; and now its even below 3,000. However, the median price has increased by 19% and the amount of pending sales and closed sales have also increased, by 1.6% and 19%, respectively.
Although a little bit of low inventory is seasonal; as new listings usually are more sparse during the holiday season, but this is the fourth month in a row where there are more pending sales than new listings.
To read more about the interaction between these figures and the market, click here to read the full article >>