REAL ESTATE ROUNDUP: The market continues to make positive strides in King County, which in March posted its first year-over-year median price increase in more than two years, according to stats released Monday by the Northwest Multiple Listing Service.
Activity in View Ridge was much better than a year ago with five homes selling last month compared to just one in March of 2009. Inventory is tight, however, with just 12 View Ridge homes on the market, compared to 27 a year ago. In Wedgwood, things might be heating up with five homes going to pending status in a recent seven-day period.
Liz Nitz, an agent for Windermere who compiles this information for the Wedgwood View, foresees median prices continuing to rise with more buyers entering the market at higher price levels, especially the price range below $800,000. Another factor that could boost activity is the the federal tax credit program’s scheduled expiration at month’s end.
The March numbers:
VIEW RIDGE
Homes sold: 5
Median price: $595,000 (96.98 percent of asking price)
Pending sales: 4
Average days on market: 38
Home currently on market: 12
Median asking price: $724,725
WEDGWOOD
Homes sold: 10
Median sales price: $407,000 (98.49 percent of asking price)
Pending sales: 10
Average days on market: 47
Homes currently on market: 33
Median asking price of: $439,000
