local real estate news, statistics, and commentary without the sales spin.
Statistics, number-based analysis, etc.
September market stats were published by the NWMLS today. The NWMLS press release has not been published yet, so we’ll take a look at that tomorrow.
After a month when everything was moving in sellers’ favor, September was much more of a mixed bag. Listings saw their largest year-over-year increase since May 2014, pushing months of supply up slightly as pending and closed sales both fell from August…
September brought some good-ish news for potential homebuyers. During a time of year that the number of homes on the market typically begins to decline, King County and Snohomish County each saw listings increase slightly from the previous month. We’re still far from a buyer’s market, but it’s a bit of a surprising turn.
While inventory increased slightly, sales still came in strong, beating last year’s September levels in both counties but sharply declining from August. Foreclosures also remain near their all-time low levels…
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to July data that was released this morning, Seattle-area home prices were:
Up 0.6 percent June to July
Up 11.2 percent YOY.
Up 5.9 percent from the July 2007 peak
Over the same period last year prices were up 0.4 percent month-over-month and year-over-year prices were up 7.2 percent.
The Seattle area’s Case-Shiller home price index hit yet another new all-time high in July, and turned in stronger numbers than a year ago across the board. Again. This matches with the July data we’ve already seen from public records and NWMLS.
Get access to the full spreadsheets used to make the charts in this and other posts, as well as a variety of additional insider benefits by becoming a member of Seattle Bubble. Apologies for the absence! I’ve been having some computer issues lately, plus I had a few very busy weeks of my other obligations…
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. Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details…