February Stats Preview: Not a Preview Edition

We missed posting this on time at the beginning of the month, but by request, we’re going to have a look at our stats preview. Most of the charts below are based on broad county-wide data that is available through a simple search of King County and Snohomish County public records. If you have additional stats you’d like to see in the preview, drop a line in the comments and I’ll see what I can do.

First up, here’s the summary snapshot of all the data as far back as my historical information goes, with the latest, high, and low values highlighted for each series:

King & Snhomish County Stats Preview

Summary: Foreclosures dipped, sales inched up from January, while inventory dropped just slightly. Hit the jump for the full suite of our usual monthly charts.

Next, let’s look at total home sales as measured by the number of “Warranty Deeds” filed with King County:

King County Warranty Deeds

Sales in King County rose 4.4% from January to February, and were up 19.8% year-over-year.

Here’s a look at Snohomish County Deeds, but keep in mind that Snohomish County files Warranty Deeds (regular sales) and Trustee Deeds (bank foreclosure repossessions) together under the category of “Deeds (except QCDS),” so this chart is not as good a measure of plain vanilla sales as the Warranty Deed only data we have in King County.

Snohomish County Deeds

Deeds in Snohomish fell 10.8% month-over-month and rose 6.2% from February 2012.

Next, here’s Notices of Trustee Sale, which are an indication of the number of homes currently in the foreclosure process:

King County Notices of Trustee Sale

Snohomish County Notices of Trustee Sale

Both counties were still way above where they were at the same time last year, but it’s the smallest year-over-year gain in five months, and a decent drop month-over-month in both counties.

Here’s another measure of foreclosures for King County, looking at Trustee Deeds, which is the type of document filed with the county when the bank actually repossesses a house through the trustee auction process. Note that there are other ways for the bank to repossess a house that result in different documents being filed, such as when a borrower “turns in the keys” and files a “Deed in Lieu of Foreclosure.”

King County Trustee Deeds

Trustee Deeds fell month-over-month and were up 31.7% from a year earlier.

Lastly, here’s an update of the inventory charts, updated with the inventory data from the NWMLS.

King County SFH Active Listings

Snohomish County SFH Active Listings

Last year King County inventory fell 3.7% between January and February. This year it fell 0.9%. Similar story in Snohomish County, where listings fell 0.7% from January to February.

0.00 avg. rating (0% score) - 0 votes

About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.


  1. 1
    mike says:

    It appears that even in the unlikely event every NTS resulted in a sale, the impact on inventory wouldn’t be anywhere near enough to tip the market in buyers favor.

    My expectation is with prices increasing, banks are now more motivated to foreclose on homes with non-performing mortgages.

  2. 2

    RE: mike @ 1

    Not to Worry Mike

    Unless you’re one of the small minute portion of the Seattle real estate buying households [that’s in the market and hasn’t already bought in years ago] making $200K+….the conglomerate sales data I’ve seen is not only skimpy, its averaging around $700K when average Seattle homes are currently $360K. That’s gotta mean most of the homes sold lately are like in the $1M category.

    I bet SF and LA are in the same basically “dead game” low inventory boat. Its a rich elite only party now.

  3. 3
    Marc says:

    Thanks Tim. Love this post. The active listings chart is the most remarkable to me this month. Per the sidebar inventory numbers from Estately it seems inventory half way through March has barely budged at all. It’s just plain terrible.

  4. 4
    toad37 says:

    Nice post Tim, thanks.

    Is anyone else here buying or looking to buy Trustee properties besides Ray?

    Is it true in most cases you can’t see the property before bidding for it?


  5. 5
    Mike says:

    RE: softwarengineer @ 2

    I bought last year just as the madness was getting underway. I’m very glad not to be in the market now.

  6. 6
    corndogs says:

    RE: softwarengineer @ 2 – “That’s gotta mean most of the homes sold lately are like in the $1M category.”

    If by “most” you mean less than 10% then you nailed it!

  7. 7
    corndogs says:

    RE: softwarengineer @ 2 – “the conglomerate sales data I’ve seen is not only skimpy, its averaging around $700K when average Seattle homes are currently $360K.”

    Congratulations, Frito, this is the first time in the history of the internet the phrase “conglomerate sales data” has ever been used.

    In the movie “Idiocracy”, the main ‘dumb’ character was named Frito. So, you will henceforth be referred to as Frito or Scrote.

Leave a Reply

Use your email address to sign up with Gravatar for a custom avatar.
Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Please read the rules before posting a comment.