Pending home sales down slightly in March

Pending residential sales dropped slightly in Island County last month, to 204, compared to 206 in March 2015, according to Northwest Multiple Listing Service numbers released Monday, April 4. That’s a drop of 1 percent — far lower than the 4.5-percent average drop among the 23 Washington counties MLS surveys.

Pending residential sales dropped slightly in Island County last month, to 204, compared to 206 in March 2015, according to Northwest Multiple Listing Service numbers released Monday, April 4. That’s a drop of 1 percent — far lower than the 4.5-percent average drop among the 23 Washington counties MLS surveys.

Closed residential sales numbered 121, up 11 percent over last March’s 109. The median closing price was up considerably year over year: $305,000 versus $245,000, a 24-percent jump.

Those higher prices may have been caused by the shortage of residential listings: 342 versus 474, a drop of  28 percent.

Area-wide, MLS figures show only 1.8 months’ supply, well below the “balanced” range of four to six months, the organization said.

Island and Kitsap counties’ large military population faces additional hurdles, said Frank Wilson, the branch managing broker at John L. Scott’s Poulsbo office, in prepared remarks. Active-duty military, retirees and veterans, often like to use their VA benefits, but in multiple-offer situations VA is a third choice behind cash and conventional loans.

“We’re asking these buyers if there’s any way they can qualify for a conventional loan as one means to make their offer more attractive to sellers,” Wilson said.

 

More in Business

Clothing event for those with challenges

Nonprofit giving brand-name clothes to those with special needs

Support is great, but WAIF still has its critics

Debating risks vs. benefit of ‘enriching’ dogs’ lives

New Indian restaurant opens on Pioneer Way

Gary Purewal and his traditional clay oven have come to give Oak… Continue reading

Pooper Troopers cleaning up a storm

These troopers respond to one specific type of problem — and it’s… Continue reading

Merchants work together to brighten girl’s Christmas

It was a whimsical guitar that caught a little girl’s eye, and… Continue reading

Season’s Eatings

Festive recipes to keep your holidays merry and bright

Whidbey Golf Club board names new officers

Whidbey Golf Club’s board of trustees met Nov. 30 and elected new… Continue reading

New cellular sales store opens in Oak Harbor

Cellular Sales, the largest independent Verizon Wireless retailer by volume, has opened… Continue reading

Hits lead to drop in WhidbeyHealth Sept. revenue

WhidbeyHealth suffered an unplanned budget hit, making September “not such a good… Continue reading

Oak Harbor Motors holds food drive for Help House

Oak Harbor Motors is aiming to “drive out hunger” in its first-ever… Continue reading

Photo by The Everett Herald / 2016
                                Todd Morrow
Island Transit board names choice for executive director

Island Transit’s board of directors picked as its new executive director an… Continue reading