[Photo: Tim Ellis]
Redfin released a new housing report for May and while the news looks good in the short-term, the long-term view still stings a bit. Locally, Seattle home sales are up 3.3% from the previous month but down 12.3% from last year. Median sale price was $365K, which is up 2.8% month-to-month and 4.3% year-to-year.
Meanwhile, homes for sale rose 12% from month-to-month (the highest gain of any major market) and are up 5.2% year-to-year. As for new listings, those are up a whopping 17.6% from April (also the highest monthly gain of any major market) and up 6% YOY. If you're getting ready to sell, make sure you're doing everything you can to stand out in a crowded market.
· Home Listings Hit 4-Year High in May, But Demand Didn't Keep Pace [Redfin]