local real estate news, statistics, and commentary without the sales spin.
County-wide statistics.
This is the last post in today’s data catch-up marathon. I’ll also update a few more of the spreadsheets for members, and if the NWMLS posts their June data today I’ll try to get that up as well.
For now, let’s have a look at our “early” view on June stats.
In summary: Listings are still up from a year ago, but not by as much as they have been. Sales are down, but only just a bit.
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.
Year-over-year price growth is falling in all three tiers, with the high tier having flipped to year-over-year losses as of February.
Let’s play a bit of catch-up today with some stats that I’ve allowed to fall behind. First up, the latest Case-Shiller data from a couple weeks ago. According to April data that was released late June, Seattle-area home prices were:
Up 1.1 percent March to April
Up less than 0.1 percent YOY.
Up 30.9 percent from the July 2007 peak
Last year at this time prices were up 2.7 percent month-over-month and year-over-year prices were up 13.1 percent.
The NWMLS published their May stats today, so let’s take a look at how the month shook out for the housing market. The King County median price of single-family homes was down year-over-year in May, the third month in a row of declines. Inventory was up from a year ago again, but the as we mentioned in the preview post earlier this week, the rate of increase is rapidly declining from the all-time high set in December. Pending and closed sales are increasing, but only modestly.
Remember, you can always get access to the Seattle Bubble spreadsheets by supporting my ongoing work as a member of Seattle Bubble. Hey look who it is. That Seattle Bubble guy. He’s not gone after all. Seriously though, everything is fine. Things just got a bit busy. Let’s have a look at the May stats,…