The ever-progressive NWMLS has finished compiling June statistics. The recap sheet does not appear to be available just yet, but thanks to my source “on the inside,” I have obtained the pertinent information. I will update this post when the publicly-available recap sheet is posted. [Edit: Here it is.]
Here’s your King County SFH summary:
June 2007
Active Listings: up 46% YOY
Pending Sales: down 11% YOY
Median Closed Price: $470,000, up 8% YOY
June makes the 19th of the past 20 months to register yet another YOY decrease in pending sales. Inventory yet again shattered the all-time high YOY increase record (set just last month at 44%). As predicted in last month’s report, and discussed on the forums, June’s SFH inventory set a new post-2000 confirmed record, landing in at 9,458 according to the NWMLS. The previous post-2000 high was 9,176 in September 2002.
Median prices rose a whopping $1,000 from last month, for a 8.1% YOY increase, while months of supply bumped up a relatively large half a point to 3.50, its highest spring/summer level since 2002.
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:
Looks like I might have to adjust that vertical axis soon…
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:
Update: Here are a few links to the local news write-ups.
Elizabeth Rhodes, Seattle Times: Condos hot while overall area housing market cools
Aubrey Cohen, Seattle P-I: Record number of homes for sale in June
Devona Wells, Tacoma News-Tribune: Pierce County home sales slow to a crawl