May 2010 South Sound Real Estate Market Snapshot

The much anticipated market data for May 2010 has just been published by the Northwest MLS. It was expected that the First Time Home Buyer Tax Credit incentive, that expired for most buyers at the end of April, would have an impact on the market data... and it did.

Numbers for "pending" sales, which have been up compared to the previous year in April, have shown a drastic dip in the May statistics, confirming that the tax credit has urged future buyers into an earlier market, therefore creating a void in the months to come.

Good indicators are that the number of home sales have increased compared the the previous year, however, prices remain lower then in 2009, mostly due to the large amount of distressed properties on the market.

If you'd like to have detailed information on how the market is faring in your neighborhood, please don't hesitate to contact me.

Sandy Nelson
Olympia Realtor®, GRI, ASP, SFR, Built Green
360-789-7505
www.SandyNelsonRealEstate.com

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