April Housing Market Stats Show Regional Strength

The housing market showed significant increases in pending sales, year-over-year, as the months of inventory for sale continues to decline. Increased demand for homes has also resulted in price buoyancy with prices increasing slightly on the Eastside and in King County. Mercer Island prices were difficult to compare year-over-year because this April’s sales were primarily of homes priced in the $600,000-800,000 price range and last April’s sales were centered well above the $1,000,000 price point. The overall market activity and strength look very promising with 32 pending sales on the Island in April of this year as compared to 20 in April of last year. Activity generated by the April 30th expiration of the home buyer tax credit has created a ripple effect benefiting Mercer Island. Favorable buyer sentiment coupled with good national economic news has definitely given new legs to the housing market!