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Around the Sound: Sales & Listings Moderated in February

Posted on March 13, 2014 by The Tim

It’s time for us to check up on stats outside of the King/Snohomish core with our “Around the Sound” statistics for Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.

If there is certain data you would like to see or ways you would like to see the data presented differently, drop a comment below and let me know.

First up, a summary table:

February 2014 King Snohomish Pierce Kitsap Thurston Island Skagit Whatcom
Median Price $405,000 $315,000 $222,000 $234,000 $215,350 $240,000 $215,000 $225,000
Price YOY 11.0% 11.5% 11.1% 6.6% -3.1% -0.4% -3.8% -9.3%
Active Listings 3,173 1,801 2,828 1,107 1,038 534 608 926
Listings YOY 7.7% 34.3% 9.2% -1.8% 4.2% -5.0% -1.0% -1.9%
Closed Sales 1,241 544 642 217 195 74 99 136
Sales YOY -9.0% -8.4% -4.2% 15.4% 1.6% 8.8% 15.1% 8.8%
Months of Supply 2.6 3.3 4.4 5.1 5.3 7.2 6.1 6.8

Next we’ll have a look at median prices in February compared to a year earlier. The biggest price gains in February were in King, Snohomish, and Pierce counties, which all came in around 11 percent higher than a year ago. Prices also rose in Kitsap County, but were down year-over-year in Thurston, Island, Skagit, and Whatcom.

Median Sale Price Single-Family Homes

Listings are increasing year-over-year in King, Snohomish, Pierce, and Thurston. Listings were down from a year ago in Kitsap, Island, Skagit, and Whatcom. Snohomish county is still way ahead of the the pack with gains over 30 percent from last year.

Active Listings of Single-Family Homes

Closed sales fell in February in King, Snohomish, and Pierce, but were up from a year ago in all the other counties.

Closed Sales of Single-Family Homes

Here’s a chart showing months of supply this February and last February. Every county but Kitsap was more balanced this February than it was a year ago. For King, Snohomish, Pierce, and Thurston that means that months of supply went up, but are still in seller’s market territory. In Island, Skagit, and Whatcom months of supply fell, but is still in buyer’s market territory. Kitsap was balanced last year but moved into seller’s market territory this year.

Months of Supply Single Family Homes

To close things out, here’s a chart comparing February’s median price to the peak price in each county. Everybody is still down between 15 percent (King) and 31 percent (Island).

Peak Median Sale Price Single-Family Homes

The close-in counties (King, Snohomish, Pierce, and sometimes Thurston) are currently acting quite a bit differently than the outlying areas, with sales decreasing and listings increasing. Of course, these areas saw the most extreme frenzy last year so it is no surprise that things are beginning to settle down.

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Seattle Sales on the Rise, Eastside Slipping
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Foreclosures Fall Off Even More in February

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