Update: The Recap sheet has been reposted with a different filename, almost as if they’re just trying to mess with me. Anyway, here is the King County Statistical Report as well. The numbers I’m interested in match what is in the Recap report.
May statistics from the NWMLS have been posted. Here’s the recap sheet. King County SFH summary:
Active Listings: up 44% YOY
Pending Sales: down 9% YOY
Median Closed Price: $469,000, up 10% YOY
May is now the 18th of the last 19 months to register a YOY decrease in pending sales. Meanwhile, inventory shattered last month’s record, posting a new all-time high YOY increase. Only once since 2000 has there been a May with more listings than there were last month. King County SFH inventory peaked in May 2003 at 9,170, decreasing the rest of that year. If inventory continues to pile up at even half the rate it has recently, June will set a new post-2000 SFH inventory record in King County. When you consider SFH and condos for King, Pierce, and Snohomish, May 2007 has already broken through the all-time high inventory record, with 22,986 total listings.
Median prices rose $4,000 from last month, for a 9.59% YOY increase, while months of supply edged up slightly to 3.02.
As is the custom, I have uploaded an updated copy of the Seattle Bubble Spreadsheet that contains the relevant data.
Here’s the supply/demand YOY graph:
Here’s the chart of supply and demand raw numbers:
Here’s the graph of YOY percent change in the median sale prices of single-family homes in King County since 1994: