Mike Gain, CEO of Prudential Northwest Realty Associates, is reporting that the pending sales of homes are picking up in Highline and West Seattle.
Prudential Northwest has offices in Olde Burien and West Seattle.

The Northwest Multiple Listing Service (NWMLS) has noted that August's pending sales volume was at the highest number of mutually accepted offers since April 2010 when the homebuyer tax incentive expired. MWMLS reported a sales gain of 26 percent for August 2011 as compared to August 2011.

However, at the two Prudential Northwest offices, the pending sales gain was 40 percent, according to Gain.

The NWMLS also reported a year to date increase for pending sales of 6 percent compared to last year's number. At Prudential Northwest, year to date pending sales increased by 20 percent.

Closed sales for the year are up 1.6 percent while Prudential Northwest's year to date closings are up 16 percent, Gain noted.

"The biggest problem we have in the marketplace today is not enough inventory," Gain declared. "Our number of homes on the market in the NWMLS has dropped 16 percent compared to a year ago. We really need some well-priced inventory in all areas.

"A lot of people who have been sitting on the sidelines are starting to get into the market. They are feeling that prices have finally hit the bottom and are actually beginning to rise again in some areas.

"If you take the price of homes for sale, historically low interest rates and typical household income, buying a home today in our area hasn't been this affordable since 1944. Our homes have reached record affordability."