September was hot in real estate

In September, there were more new listings and pending home sales in King County compared to last year.

“In fact,” said CEO of John L. Scott Real Estate Lennox Scott, “last month was the best September on record.”

The “surge-hot” housing market continues on a seasonality basis. This means that while pending sales may be slowing, it’s a seasonal impact.

When comparing September’s statistics to last year’s, the numbers are higher.

September also had a kinder, gentler feel. We saw a slight decrease in the number of multiple offers situations for new listings, so buyers are feeling a bit of relief.

Mona Spencer, Branch Manager of John L. Scott Eastside, says that in Kirkland there is a high demand for housing. Couple that with low inventory and you get rising prices.

“Houses are selling for over list price in multiple offers,” she said. “Presenting very strong offers and waived inspections and appraisals is what most sellers look for when making their decision on which offer to accept.”

Home prices in King County continue to show appreciation compared to a year ago. In fact, appreciation in King County is up 9.74 percent from last September.

Kellee Bradley is a spokesperson with John L. Scott.