August's numbers are in from NWMLS. It's not looking as gloomy as I thought it would be. Here is a quick summary:
- Total active inventory in August is 6.95% higher than twelve months ago but 4% lower than July 2010.
- Pending sales were 6.03% lower than same period last year but 11% higher than previous month.
- Closed sales were ~10% lower than a year ago and 2% lower than July.
- Median price for August was $297,000. Compared to a year ago, this is 5.97% higher and ~2.4% higher than previous month.
- We're seeing about 10 months of inventory on the market based on closed sales and ~8 months of inventory based on pending sales.
(Information from Northwest Multiple Listing Service and is deemed reliable but not guaranteed)