| Residential Status | February | January | December | November |
| Sold | 396 | 319 | 522 | 573 |
| Pending | 927* | 812 | 769 | 930 |
| Active | 4,057 | 3,916 | 3,459 | 3,925 |
*402 went pending in February. This information is courtesy of the NWMLS. These stats do not include condos.
We are now two months into 2010 and entering the spring season when typically the real estate market begins to pick up. And guess what? Even in today's real estate market, the trend continues and sales are picking up! As you can see from the numbers, available homes for sale are up, pending sales are up, and even the solds have increased. The percentage of "distressed homes" on the market as of today is 28%, with the pendings being 21% and the solds being 36%. So not much change when it comes to the percentage of distressed homes. There is one interesting thing I've noticed that is occuring ever month - when it comes to short sales, a very low percentage actually sell. Everyone has heard that it is hard to sell a short sale, and here are some figures to back that up. From November through February, the average percentage of available short sales that actually sold is only 7.3%. There are many factors that can play into why they don't sell, but personally, I have a great track record with short sales - 85% of my short sale listings have closed!
Once again, let's keep an eye on the job market to help give us an indicator on when this season in real estate will make the turn. I currently read that the banks still have 1.8 million homes to put on the market, which indicates that the turn around is probably NOT in the near future.
Current interest rates are hovering around 5.125% with all indications leading to a rate increase in the near future.