local real estate news, statistics, and commentary without the sales spin.
June market stats were published by the NWMLS today. Before we get into our monthly stats, here’s a quick look at their press release. Home sales sizzling around Western Washington, with volumes reaching 10-year high Temperatures around Western Washington were not the only thing sizzling during June. Northwest Multiple Listing Service members reported 11,453 pending…
Now that June is behind us, let’s have a look at our monthly stats preview. First up, here’s the snapshot of all the data as far back as my historical information goes, with the latest, high, and low values highlighted for each series: Sales shot up to a multi-year high in both counties, inventory barely…
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…
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to April data, Seattle-area home prices were: Up 2.3% March to April Up 7.5% YOY. Down 7.4% from the July 2007 peak Last year at this time prices rose 2.3% month-over-month and year-over-year prices were up 11.2%. Year-over-year and month-over-month…
A recent commenter had some questions about inventory: …how much of the “low inventory” story is really a story of “high churn”? …it doesn’t seem like there is really a shortage of inventory, but rather that there is a shortage of stale inventory. Would be really curious to see how how new listing rates for…