June Stats Preview: Listings Inch Up, Sales Still Strong

Let’s take a look at regular monthly “preview” charts. Now that June is in the past let’s take a look at the local housing market stats for the month. Short story: Inventory bumped up slightly, but is still in the gutter. Sales are still very strong.

Listings are still very scarce, but at least they’ve bumped up quite a bit from the all-time low. Sales are strong, and hit their highest point since sometime before 2009 in Snohomish County.

Case-Shiller Tiers: Prices In All Tiers Skyrocket in 2017

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.

All three tiers have basically been skyrocketing month-over-month since January. Not a great sign for anyone hoping for a slowdown this year.

Case-Shiller: Seattle Real Estate is Hot, Hot, HOT!

Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to March data that was released this morning, Seattle-area home prices were:

Up 2.6 percent March to April
Up 12.9 percent year-over-year.
Up 15.7 percent from the July 2007 peak

Over the same period last year prices were up 2.1 percent month-over-month and year-over-year prices were up 10.7 percent.

Seattle home prices as measured by Case-Shiller shot up yet again to a new all-time high in April, and let the nation in month-over-month and year-over-year price gains for the third month in a row. We’re also the only market still seeing double-digit year-over-year price gains. #SeattleIsSpecial

NWMLS: “May was a Grand Slam” …For Home Salespeople

May market stats have been published by the NWMLS this morning. Here’s their press release: Brokers suggest improving inventory may mean”season of opportunity” for weary house hunters

Pending sales have now been down year-over-year for four months in a row, but for three of those four months, closed sales have increased, which is certainly a bit odd. Perhaps this is indicative of a shift from last year toward fewer pending sales falling through. I’ll see if I can find anything else interesting in the data about that…

May Stats Preview: Inventory Edges Up, Sales Surge

NWMLS posted their stats this morning, but first here are our regular monthly “preview” charts. Now that May is behind us let’s take a look at the local housing market stats for the month. Short story: Sales shot up, listings improved a little but are still scarce…

Case-Shiller: Seattle Housing Market the Hottest In US

Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to March data that was released this morning, Seattle-area home prices were:

Up 2.6 percent February to March
Up 12.3 percent year-over-year.
Up 12.7 percent from the July 2007 peak

Over the same period last year prices were up 2.4 percent month-over-month and year-over-year prices were up 10.9 percent.

Seattle home prices as measured by Case-Shiller shot up yet again to a new all-time high in March, and let the nation in month-over-month and year-over-year price gains for the second month in a row.

The near hockey-stick shape of some of these home price charts is starting to concern me.

Sales Fall Off In Cheap King County Neighborhoods

It’s been a few months since we took a look at the in-county breakdown data from the NWMLS to see how the sales mix shifted around the county. I like to keep an eye on this not only to see how individual neighborhoods are doing but also to see how the sales mix shift affects the overall county-wide median price.

In order to explore this concept, we break King County down into three regions, based on the NWMLS-defined “areas”:

  • low end: South County (areas 100-130 & 300-360)
  • mid range: Seattle / North County (areas 140, 380-390, & 700-800)
  • high end: Eastside (areas 500-600)

Here’s where each region’s median prices came in as of April data:

  • low end: $330,000-$520,000
  • mid range: $559,950-$964,250
  • high end: $699,475-$2,203,000

First up, let’s have a look at each region’s (approximate) median price (actually the median of the medians for each area within the region)…