May was another strong month for home sales in Southwest Washington, with the largest number of new listings for the month of May since 2008, as well as a quickened pace of sales compared to one year ago.
The May report from RMLS, a Portland-based listing service, shows 1,115 listings in May, a 25 percent increase over April and a 20 percent jump from the 927 listings in May 2013. RMLS reported 600 closed sales in May, a 4.3 percent one-year increase and the largest number of May closings since 2006. The average time a home was on the market was 98 days, down by 10 days from a year ago. The inventory of homes for sale was enough to last 3.9 months, the lowest inventory of any month this year.
Pending sales, 747 for the month, increased by almost 1 percent from last year and were up by 6.6 percent from last month. The median sales price — half sold for more and half for less — of $229,900 was up 10.6 percent from last May's $207,800.