Pending sales are up . . . and down

Here is some news from the Northwest Multiple Listing Service, which keeps statistics regarding area home sales.

"Pending sales during April reached their highest level in eight months, according to the latest figures from Northwest Multiple Listing Service, which covers 19 counties in western and central Washington.

Brokers reported 6,208 pending sales (offers made and accepted, but not yet closed) last month. That was the highest number of transactions during one month since August, when MLS members notched 7,751 pending sales of single family homes and condominiums. Compared to the same month a year ago, pending sales were down about 32 percent.

Other indicators tracked by the multiple listing service were mixed. Prices for sales that closed during April were down about 5.5 percent compared to a year ago, but a look at more recent months shows stable price in many areas – especially compared to most metropolitan areas around the country.

In the four-county Puget Sound region, prices have shown little fluctuation since August when they started slipping during the subprime mortgage meltdown. In King County, the median price for last month’s closed sales of single family homes and condos was $410,000. That’s up slightly (0.67 percent) from 12 months ago and only $5,000 below the price reported for August 2007."