Full disclosure: The Tim is employed by Redfin.
Last week Redfin released their October market data. Here’s an excerpt from the narrative:
“The majority of buyers I am working with are not in any hurry to purchase, but want to take advantage of the lower house values we see in the winter,” said Cheryl McLaine, a Redfin agent in Redmond and Kirkland. “On the other side, sellers who have been on the market for over several months with regular price drops seem to have little financial room to negotiate.”
You can download the full spreadsheet from Redfin here, and as usual, I’m going to map the data here.
In the map below each zip code with enough sales in October is shown as a dot, with the size of the dot determined by the number of sales in that zip code in the month. Each dot is color-coded based on whichever measure you select below the map. You can view the month-over-month or year-over-year changes in inventory, sales, median prices, or median prices per square foot. There is also a county selector that allows you to narrow, expand, or modify the view to your liking.
Although the overall sales volume was pretty pitiful, a number of zip codes did see month-to-month sales gains. The biggest winner in King County was Woodinville (98072), which saw sales nearly double from 10 in September to 19 in October. King County’s biggest decline was in Renton (98055), where sales fell 50% from 14 in September to just 7 in October. Once again, very few neighborhoods saw year-over-year sales gains.
Here are the zip codes with the most SFH sales in October in King, Snohomish, Pierce, Thurston, and Kitsap County:
- King: 98115 — 40 sales.
- Snohomish: 98012 — 57 sales.
- Pierce: 98387 — 66 sales.
- Thurston: 98501 — 38 sales.
- Kitsap: 98367 — 23 sales.
As is common for this time of year, inventory declined month-to-month in almost every neighborhood. Year-to-year was a little more mixed, with many neighborhoods showing gains, but many others actually down from 2009.
The median price was down in most neighborhoods from a year ago, while the median price per square foot fell in even more neighborhoods.
Anything stand out to you about your neighborhood in this month’s data?