Let’s check in on our January monthly neighborhood update to the neighborhood breakdown of 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, courtesy Tableau Software (available free to use online), the neighborhoods SAAS update is rocking sweet interactive data visualizations. Click a region or a neighborhood to filter the charts below or get details on a specific point.
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
King County’s overall SAAS moved further above the “balanced” level, moving up to 2.35 in January (December was 2.10). Only 3 of 30 areas came in below 1.75 as seller’s markets, 23 of 30 came in above 2.25 as a buyer’s market, and the remaining 4 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
Only four areas came in as stronger buyers’ markets than January 2009: Downtown Seattle condos (701), Renton / Benson Hill (340), Jovita / West Hill Auburn (100), and Burien / Normandy Park (130).
Regional History
Most neighborhoods continued to rise from December to January, after bottoming out (likely thanks to the tax credit) in November.
The three toughest markets for sellers were Renton / Benson Hill (340) at 5.1, Kirkland / Bridle Trails (560) at 4.3, and Mercer Island (510) at 3.6.
The three best markets for sellers as of last month were Queen Anne / Magnolia (700) at 1.2, North Seattle (710) at 1.5, and Eastside south of I-90 (500) at 1.7.