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PUGET SOUND MULTIPLE LISTING ASSOCIATION REPORTS ON PUGET SOUND REALTY MARKET

 PUGET SOUND MULTIPLE LISTING ASSOCIATION
 REPORTS ON PUGET SOUND REALTY MARKET
 KIRKLAND, Wash., May 12 /PRNewswire/ -- Residential real estate activity during April continued to outpace activity of a year ago, but pending sales slowed compared to February and March. A spokesperson for the Puget Sound Multiple Listing Association (PSMLA) said slowdowns are typical during April when attention shifts to taxes, Easter and spring break holidays.
 Members of PSMLA reported 2,525 pending sales during April, an increase of 6 percent from the same period last year, but a drop from the March 1992 figure of 3,188 residential and condominium units.
 Listing activity remains strong, with 6,359 properties added to the inventory, bringing the total active listings to 21,940. That figure represents a decline of about 4 percent (881 units) compared to total listings during March (22,821). For the same period last year (April 1991) inventory totaled 22,364 units.
 Average prices inched up slightly for King, Snohomish and the portion of Pierce County that is included in the PSMLA report. For the overall area, the average for all residential listings was $227,461, which compares to the March figures of $225,044 and a year- ago figure of $224,460. Listings in King County have an average price of $243,046. In Snohomish County the average is reported to be $187,647, while Pierce County reports an average of $181,296.
 Closed sales (those transactions for which a deed transfer has been made) numbered 3,173, up 14 percent from the same period last year and about equal to the closings reported during March 1992 (3,169). Average price for these transactions was $163,551.
 Average days on the market (the time it takes to sell a home) was 61 days, equalling the figure reported for March. This pace represents a six-day improvement over the first quarter average (67 days).
 The Puget Sound Multiple Listing Association is an independent, private, nonprofit association of real estate professionals. Its statistics reflect the activity of approximately 670 offices and nearly 9,500 sales associates in the three-county area.
 PUGET SOUND MULTIPLE LISTING ASSOCIATION
 STATISTICAL REPORT
 (as of April 1992)


(Data excerpted from Reports on Residential and Condominium Activity)
 Second Quarter 1992 Pending Pendings Pendings
 Month New Total Avg. Price Sales (average (avg. days
 Listings Active (list) (units) price) on market)
 APRIL Listings
 King Co. 4,732 15,884 $243,046 1,844 $171,340 59
 Snoh. Co. 1,377 5,041 $187,647 588 $152,651 65
 Pierce(A) 250 6,130 $181,296 93 $134,712 90
 TOTAL 6,359 21,940 $227,461 2,525 $165,639 61
 Second Quarter 1992
 Month Closed Sales Average Price Average Days
 (units) (Closed Sales) on Market
 APRIL
 King Co. 2,252 $170,122 71
 Snoh. Co. 823 $148,477 68
 Pierce(A) 98 $139,368 97
 TOTAL 3,173 $163,551 71
 (A) PSMLA covers the northern portion of Pierce County.
 -0- 5/12/92
 NOTE TO EDITORS: Statistical highlights are summarized in the above chart. Additional details, including breakouts by areas within each county, are available by calling 206-869-5839.
 /CONTACT: Jack Johnson of Puget Sound Multiple Listing Association, 206-820-9200, or after hours, 206-486-3810/ CO: Puget Sound Multiple Listing Association Inc. ST: Washington IN: SU:


LM-JH -- SE005 -- 9156 05/12/92 12:59 EDT
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Date:May 12, 1992
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