local real estate news, statistics, and commentary without the sales spin.
County-wide statistics.
I’d like to introduce a new chart. The “Residential Real Estate Heat Index” is an index I’ve been calculating for a few years, that originally was part of the now-defunct Sound Housing Quarterly newsletter. It rolls changes in the median price, new listings, total inventory, pending sales and closed sales all into a single number to measure the relative “heat” of the market.
Here’s what it looks like for King County single-family homes and condos…
September market stats were published by the NWMLS today. Before we get into our monthly stats, here’s a quick look at their press release…
Now that September is in the books, let’s have a look at our monthly stats preview.
Sales were basically flat month-over-month, but still up double-digits from a year ago, while inventory in both counties saw the biggest year-over-year decline in more than two years. Foreclosure notices in both counties bumped up a little month-over-month and year-over-year…
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties.
All three tiers were up month-over-month yet again in July. However, the gains in all three tiers were much smaller than they have been for the previous few months…
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to July data, Seattle-area home prices were:
Up 0.5% June to July
Up 7.3% YOY.
Down 4.7% from the July 2007 peak
…