November market stats were published by the NWMLS this morning. Home prices slipped to their lowest level since January, and inventory is declining seasonally but hit its highest November level since 2011. Both pending and closed sales continued to slip from last year as well. November’s year-over-year listing growth was an all-time record at a whopping 114 percent.
It’s pretty much the same story as last month: Home sales volume was down considerably from a year ago and the number of homes on the market is up dramatically, nearly doubling from a year ago. Foreclosures are still very rare, although the number of notices did tick up a bit month-over-month.
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to September data that was released today, Seattle-area home prices were:
Down 1.3 percent August to September
Up 8.4 percent YOY.
Up 30.2 percent from the July 2007 peak
Last year at this time prices were down 0.3 percent month-over-month and year-over-year prices were up 12.9 percent.
October market stats were published by the NWMLS today. Home prices were basically flat from September, and inventory dropped a bit but was up dramatically from 2017. Sales continued to slip from last year as well. September’s year-over-year listing growth was an all-time record at 68 percent, but October’s 86 percent blew that out of the water…
I did some speculative analysis for Redfin on the impact that Amazon HQ2 will have on the Seattle real estate market: Amazon HQ2 Could Quickly Turn Seattle Into a Buyer’s Market
For the article I spoke with a Redfin Seattle agent who has had some interesting conversations already with buyers…
Home sales volume was down considerably from a year ago in both King and Snohomish County last month, dipping over 16 percent in both counties. Meanwhile, the number of homes on the market began the usual seasonal declines, but were still up 83 percent in King County and 63 percent in Snohomish. Foreclosures are still very rare, although the number of notices did tick up a bit month-over-month.
If you aren’t familiar with the Czech Sky, read this 2010 post.
The Czech Sky is still found in many Seattle-area home listings today. Here are just a few…