Around-the-Sound-Price_2016-07

Around the Sound: Sales Slip In More Counties

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Let’s have a look at our housing stats for the broader Puget Sound area. Here’s your July update to our “Around the Sound” statistics for King, Snohomish, Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.

First up, a summary table:

July 2016 King Snohomish Pierce Kitsap Thurston Island Skagit Whatcom
Median Price $555,000 $405,000 $285,000 $290,500 $269,950 $317,000 $285,500 $317,000
Price YOY 14.4% 11.6% 15.4% 3.8% 5.9% 13.6% 5.7% 7.1%
Active Listings 3,554 1,680 2,655 912 1,095 527 522 863
Listings YOY 0.1% -21.6% -14.2% -9.3% -5.1% -13.3% -17.8% -21.7%
Closed Sales 2,803 1,278 1,400 417 503 180 204 299
Sales YOY -3.3% 10.6% 0.6% -6.7% 14.6% -4.8% 6.8% -5.4%
Months of Supply 1.3 1.3 1.9 2.2 2.2 2.9 2.6 2.9

King and Pierce counties saw the biggest bump in prices compared to a year ago, King was the only county that isn’t still bleeding inventory, and a few other counties joined King in seeing sales slip.

Here’s the chart of median prices compared to a year ago. Every county was up, with King, Snohomish, Pierce, and Island all still seeing double-digit gains. The smallest gains were in Kitsap and Skagit counties.

Median Sale Price Single-Family Homes

Listings were down significantly from a year earlier in most counties. King County was the exception to the trend, with listings basically flat from a year earlier. The biggest drop in listings was in Whatcom County, followed very closely by Snohomish County.

Active Listings of Single-Family Homes

A few other counties joined King in the sales decline in July. King, Kitsap, Island, and Whatcom counties all saw fewer sales in July than a year earlier. Pierce was basically flat.

Closed Sales of Single-Family Homes

Months of supply is still terrible for buyers across the board. We’ll need quite a few more months of increasing inventory and decreasing sales before we start to see anything even remotely resembling a trend toward a buyer’s market for months of supply.

Months of Supply Single Family Homes

Finally, here’s a chart comparing the median price in July to the 2007 peak price in each county. King, Snohomish, and Whatcom counties are still the only counties to have prices above the 2007 peak.

Peak Median Sale Price Single-Family Homes

In summary: It’s still a strong seller’s market, and will most likely continue to be at least through the end of this year. We’re seeing a few signs of moderation, but they are fairly weak, and not enough to flip the market very quickly.

If there is certain data you would like to see or ways you would like to see the data presented differently, drop a comment below and let me know.

KingCoSFHClosed2016-07

NWMLS: Listings Inch Up, Sales Dip, Prices Slip

Get access to the full spreadsheets used to make the charts in this and other posts, as well as a variety of additional insider benefits by becoming a member of Seattle Bubble. July market stats were published by the NWMLS yesterday. Here’s an excerpt from the NWMLS press release: Some Brokers See Early Signs of […]

Preview_2016-07_Active-Listings

July Stats Preview: The Inventory Bleeding Stops

Get access to the full spreadsheets used to make the charts in this and other posts, and support the ongoing work on this site by becoming a member of Seattle Bubble. With July officially in the books, let’s have our first look at how the month’s real estate stats stack up. First up, here’s the […]

Case-Shiller_SeaTiers-Zoomed_2016-05

Case-Shiller Tiers: High Tier Seven Percent Above 2007 Peak

Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties. Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details […]

Case-ShillerHPI_MOM_2016-05

Case-Shiller: Seattle Home Prices Keep Powering Up, Up, Up

Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to May data that was released this morning, Seattle-area home prices were: Up 1.4 percent April to May Up 10.7 percent YOY. Up 3.9 percent from the July 2007 peak Over the same period last year prices were up 1.4 […]

Around-the-Sound-Price_2016-06

Around The Sound: King County Slightly Less Bleak For Buyers Than Surrounding Region

Get access to the full spreadsheets used to make the charts in this and other posts, and support the ongoing work on this site by becoming a member of Seattle Bubble. Let’s have a look at our housing stats for the broader Puget Sound area. Here’s your June update to our “Around the Sound” statistics […]