Let’s take a look at April NWMLS statistics from around the sound. As usual, courtesy Tableau Software (available free to use online), the Around the Sound update is rocking sweet interactive data visualizations.
Feel free to download the old charts in Excel 2007 and Excel 2003 format. To get specific info about a certain point on any graph in the post below, float your mouse pointer over the data.
Before we get to the cool stuff, here’s the usual table of YOY stats for each of our eight covered counties as of April 2010.
| April 2010 | King | Snohomish | Pierce | Kitsap | Thurston | Island | Skagit | Whatcom |
|---|---|---|---|---|---|---|---|---|
| Median Price |  1.3% |
6.7% |
5.2% |
4.7% |
2.2% |
 1.4% |
3.9% |
2.9% |
| Listings | 4.2% |
4.9% |
2.9% |
0.6% |
14.0 |
7.7% |
0.7% |
7.5% |
| Closed Sales | 63.5% |
66.8% |
35.8% |
25.0% |
33.5% |
48.4% |
50.7% |
18.8% |
| SAAS | 2.14 | 1.89 | 2.23 | 2.04 | 2.18 | 2.38 | 2.26 | 2.45 |
One more county bumped into positive YOY territory for listings this month. Now just King, Snohimish, and Pierce are below where they were a year ago.
Summary
Hit the jump for the rest of this month’s visualizations.
The visualization below looks at closed sales in each county in April 2009 and April 2010:
Closed Sales
April will probably be the last month we see such incredibly large year-over-year gains, since May was the first month that sales really started to pick up last year.
Here’s our comparison of median prices in each county at their respective peaks and in April 2010:
Change from Peak
Still not a lot of change here as prices have been mostly holding steady while the tax credit has been borrowing buyers from the future to sustain demand.
Seasonally Adjusted Active Supply
Snohomish County actually dipped into seller’s market territory, while every county around the sound is tilted less in favor of buyers than a year ago.
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Now that the government’s meddling is over prices can resume their normal trajectory to a market-based equilibrium.
In other words, look out below!
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RE: LA Relo @ 1 –
Tax Credit End Portends Price Decreases Already
Article in part:
“…The expiration of the credit could be prompting home sellers to slash prices: 22% of listings on the market as of May 1 experienced at least one price reduction — that’s a 10% increase from the previous month, according to data from Trulia.com….”
http://www.marketwatch.com/story/as-tax-credit-ends-some-home-sellers-drop-prices-2010-05-14?siteid=rss&rss=1
Of course the picture is just beginning to clarify DOWNWARD for house prices, as the Summer data pours in the actual reality will document itself even more substantially.
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By softwarengineer @ 2:
WOW!!! A 10% increase?? As in last month it was 20% and this month it’s 22%?!?!?!
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RE: drshort @ 3 – It depends on the average time on market. Let’s say that it is 120 days. If you in one month have a 10% increase in price cuts of 4 months worth of listings it’s pretty significant since it signals a much higher pace of price cuts. It could be sellers rushing to try to push the property out of the door while the tax credit was active.
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By patient @ 4:
That would be my guess.
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By LA Relo @ 1:
Some of the meddling is over. But we still have Fannie/Freddie/FHA representing 96.5% of loans being made. IMO, government price fixing should be illegal. Then again, if it were, who would fund the political elections?
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Its going to getting interesting now.
We have officially used all of our bullets. The banksters are wealthy, the banks themselves are still insolvent but for the mark to fantasy rule, the govt is broke, and the people are still in bad shape.
Now we can really begin the deleveraging.
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By Scott Weitz @ 7:
I think we’ve just stopped shooting. The government will quickly reload and start all sorts of new programs should the market start tanking again. Count on it.
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The next thing the government is going to be forced to do is raise interest rates. Once they accept that we’re not that far off from what’s happening to Greece we’ll have no choice but to raise rates.
Only question is will China have ditched our dollars in favor of the Euro by then or not.
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[...] quick highlight of where the market is at today:foreclosures still increasingprices declining slowlysales boosted through the springPost-tax credit, mortgage purchase applications have dropped to a 13-year lowinterest rates still at [...]
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