Data from the residential real estate market in the western Washington counties served by the Northwest Multiple Listing Service (NWMLS) indicate that overall, inventory remains tight and  prices continue to climb.

In a news release dated earlier this month, real estate market professionals of the NWMLS say that among other trends, pent up demand is responsible for more people shopping for a new homes. The release goes onto say that agents are not seeing the usual summer slowdown in market activities.

One indicator that shows that homes and condos aren’t lingering on the market is the amount of homes and condos being added as compared to the amount of inventory remaining at the end of the month.  For Bellevue map areas 520, west of I-405 and area 530, east of I-90 (both south of SR-520) a total of 228 homes were added this past month compared to 245 in 2016.  The number of active listing for this past month was 303, down 36 from July 2014.

The number of pending sales also shows activity has increased. In July of 2014, there were 196 home sales in process. This last month shows a 25 percent increase in pending sales.

The median sale prices for the month for both areas is  just over $1 million— up from the mid-900’s a year ago.