For more than two decades, Dave Leonti has worked in the real estate and construction industry. Dave Leonti divides his time between flipping homes and managing construction budgets as a project manager for Casa Dolce Homes and selling properties as a broker for Keller Williams Realty in Kirkland, Washington.
According to Northwest Multiple Listing Service (NWMLS), a service that aggregates home listings for most of Washington State, buyers may have better luck finding a home during summer. In June 2017, NWMLS reports that 13,658 new listings were added. This is the highest number of new listings added in one month since May 2008, which had 14,176 listings added.
However, total inventory for June 2017 is still lagging behind June 2016. Total active listings for condos and single-family homes reached 14,482 in June 2017. While this number seems significant, it is 14 percent lower than the total June inventory last year. Still, real estate professionals feel positive about the real estate market in the state due to the fact that total inventory increased by 16 percent between April and June this year.
On top of June’s increase in total and new inventory, brokers also reported a 3.4 percent increase in pending sales when compared to one year ago. However, this number does vary between counties. While King, Snohomish, Kitsap, and Pierce Counties experienced record-setting pending sale numbers, nine other counties in Washington saw year-over-year decreases in their number of pending sales.
