Snapshot of the February Housing Market

The Northwest Multiple Listing Service (NWMLS) is the largest full-service MLS in the Northwest and its membership includes more than 28,000 real estate brokers across 23 counties in Washington state. Each month they release a snapshot of the market in the northwest and the February 2018 numbers reflect the immense population boom that we've all been experiencing first hand! 

New Listings Vs. Closed Sales

The median closed price in February was $385,000, which is a tied record high for the region! The median closed price for residential listings increased nearly 15% from February 2017.

Brokers added 436 more new listings to the database in February 2018 as compared to February 2017. 

Brokers made $2.26 Billion in closed sales in February 2018. This total dollar value of closed sales rose more than 18% from February 2017. 

Available Inventory

As any real estate broker would tell you, housing inventory is very tight! In February 2018 there were 7,921 active listings in the database, which is a 13% drop from the previous year. 

In February 2017, the market had 2 months of inventory. As of February 2018, there were just 1.43 months of inventory on the market. That means that at the current rate of sales, it would take 1.43 months to sell every home that is active in the NWMLS inventory. The industry standard for a balanced market is 4-6 months! 

Pending Sales

Homes under contract decreased by 229 by listings from February 2017. The total value sum of homes under contract increased by then 10% from February 2017. 

Karen Keefe

A savvy Realtor who listens to her clients. Creating positive results are the driving forces that underscore Karen's nearly decade of real estate experience. A resident of Bainbridge Island and Kitsap County for 38 years where she raised her 3 children. . So no matter what property type or price point, she has always been dedicated to offering extraordinary service. Karen is a second generation real estate professional and has been a licensed residential broker since 2006 with roots deeply embedded in Bainbridge Island and North Kitsap for over 32 years.

Karen is dedicated to partnering with her clients, listening to their unique needs and assisting them in navigating a dynamic marketplace with the goal of a smooth and successful transaction. Selling a home is more than sticking a sign in the ground and waiting for the phone to ring. Karen brings a team of professionals with a proven track record; from an award-winning marketing team and professional photography to a gardener and home stager. She has the proven history of making sure the job is done right the first time