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Seattle Bubble Forum Archive • View topic - Seattle, WA MLS Update for March 2007

Seattle, WA MLS Update for March 2007

Anything and everything relating to Seattle-area real estate.

Moderators: synthetik, The Tim, Lake Hills Renter

Seattle, WA MLS Update for March 2007

Postby meshugy » Fri May 04, 2007 6:44 am



MOM #s were way up in March. Sales prices jumped 9.5%, price per sq.ft up 3.9%, days on the market down 5.1%, and total transactions up 16.9%. A really strong start for this years selling season.
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Postby biliruben » Fri May 04, 2007 6:49 am

April numbers are due out at what could be any moment. Why are you rehashing old news that spring sales are better than winter sales, Shug?
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Postby meshugy » Fri May 04, 2007 7:23 am

Hi Bili....those stats aren't available from the MLS reports. Only the Zillow blog posts price per sq ft and sold/asking price stats. Gives you a better idea of what happened last month.

BTW, our little wager is not looking to good for you right now. You predicted YOY inflation adjusted decreases in July. After the huge gains of March and most certainly more for April, I think you're in for tar and feathers.
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Postby mike2 » Fri May 04, 2007 8:44 am

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Postby deejayoh » Fri May 04, 2007 8:47 am

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Postby meshugy » Fri May 04, 2007 10:06 am

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Postby mike2 » Fri May 04, 2007 10:29 am

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Postby deejayoh » Fri May 04, 2007 10:31 am

Last edited by deejayoh on Fri May 04, 2007 11:50 am, edited 1 time in total.
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Postby biliruben » Fri May 04, 2007 10:42 am

BTW, our little wager is not looking to good for you right now. You predicted YOY inflation adjusted decreases in July.
-Shugadaddy

I'm feeling pretty confident. Prices have been essentially flat since last May, and inventory has just blown past the highs for the last few years and just seems to be accelerating. Hundreds more houses coming on the MLS daily, pouring on at astounding rates, and few getting bought. All these speculators who couldn't sell last summer are trying again by pouring their inventory on the market, hoping for that illusary spring bounce that failed to appear other places last year. That, on top of the flipper ultra-maroons like Seattle Eric who didn't realize flipping doesn't work at the top of the market, on top of new inventory under-cutting everything, and I worry for Seattle.

July is far enough away that there is plenty of time to for buyers to realize what a large advantage they have over sellers with so much inventory, and start to bargain or just wait 'em out.
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Postby meshugy » Fri May 04, 2007 12:05 pm

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Postby biliruben » Fri May 04, 2007 1:07 pm

A $27K increase is flat?

About 5%. Barely more than inflation. Up until March prices had actually been declining. I guess we will have to see if March was a blip or the start of a trend.
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Postby uptown » Fri May 04, 2007 1:15 pm

Maybe in Shoreline...in Ballard everything is gone within a week.

Well, I just found over 40 houses (not condos) on Redfin that have been listed longer than 45 days. So much for Ballard.
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Postby meshugy » Fri May 04, 2007 1:21 pm

I'm sure there real winners.... :D
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Postby deejayoh » Fri May 04, 2007 1:31 pm

Check out Zip's reports vs. MLS and I am sure you will agree that...


Image

Shug, I notice you weren't crowing about them in July, August, or December of last year when they said the market was DOWN vs. MLS. Oh, and when you went back and looked at history, did you happen to notice they FORGOT FEBRUARY?

Gosh, I think I will give them my business. They seem like a well run organization!
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Postby meshugy » Fri May 04, 2007 1:39 pm

Hi DJ...thanks for the report. I'm glad to see you accpet the MLS #s as reality. :D
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