Let’s check in again on our regular monthly neighborhood update to Seasonally-Adjusted Active Supply (SAAS). For an explanation of what seasonally-adjusted active supply is, please refer to this post. Also, you may view a map of the areas discussed in this post.
As usual, the sweet interactive data visualizations in today’s post come to you courtesy Tableau Software.
In the charts below I have taken the calculated value for SAAS and subtracted 2, in order to better visualize the difference between a buyer’s market and a seller’s market. Using this method, negative SAAS values indicate a seller’s market, while positive values indicate a buyer’s market.
Summary
With new listings continuing to wane, King County’s overall SAAS finally dropped below the “balanced” level, coming in at 1.88 for August (July was 2.01). 10 of 30 areas came in below 1.75 as seller’s markets, 7 of 30 came in above 2.25 as buyer’s markets, and the remaining 13 were more or less balanced between 1.75 and 2.25.
Hit the jump for the rest of this month’s interactive charts and commentary.
Here’s a year-over-year comparison for each NWMLS neighborhood.
Year-Over-Year Comparison
Other than downtown condos, Seattle proper had the strongest showing last month for Sellers, with five of its eight areas coming in below 2.0.
Regional History
Most regions saw declining SAAS values from July to August, probably because people aren’t listing their homes as summer winds down unless they absolutely need to sell.
The three toughest markets for sellers were Downtown Seattle condos (701) at 3.8, Enumclaw (300) at 2.8, and Des Moines / Redondo (120) at 2.7.
The three best markets for sellers as of last month were Vashon Island (800), Queen Anne / Magnolia (700), and Richmond Beach / Shoreline (715), all tied at about 1.5.