NWMLS: Home listing inventory skyrocketed in November as sales and prices both fell further

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.

NWMLS: Inventory up big from 2017, sales slip

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…

Around the Sound: Inventory growth, sales declines spread outside of King County

With September’s stats in hand, let’s look at broader Puget Sound area. Here’s the latest update to our “Around the Sound” statistics for King, Snohomish, Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.

The biggest gains in new listings and active inventory are still in King County. Snohomish, Pierce, Kitsap and Thurston all also saw some decent gains in inventory, but in Island, Skagit, and Whatcom inventory was flat or still down. Meanwhile, closed sales are falling everywhere but Whatcom.

NWMLS: Inventory continues to climb as sales slow

September market stats were published by the NWMLS today. Home prices have leveled off as sales continue to slip and inventory piles up. Year-over-year listing growth hit its highest level ever as the number of homes on the market reached its highest level since January 2012…

Expensive parts of King County are seeing bigger dips in sales and prices

It’s been six months since we took a look at the in-county breakdown data from the NWMLS to see how the sales mix shifted around the county. I like to keep an eye on this not only to see how individual neighborhoods are doing but also to see how the sales mix shift affects the overall county-wide median price.

The number of sales in all three tiers has been decreasing month-over-month for the past two months. Month-over-month sales were down five percent in the low tier, down ten percent in the middle tier, and down eight percent in the high tier…

New listing absorption softens more as pending sales slip

I’ve got a few charts to update you with, but let’s start with a few charts that sum up the state of King County single-family listings, inventory, and pending sales.

After five or six years of the same story month after month—fewer listings, more sales, soaring prices—the market has definitely turned in 2018. Pending sales are now on the decline and inventory is rising rapidly. Let’s see what this looks like in charts…

NWMLS: Prices retreat slightly as inventory continues to climb

July market stats were published by the NWMLS yesterday. The biggest news is still the climb in inventory, which is up 256 percent from the all-time low that was set back in December. If the current trend continues (a big “if”), it’s entirely possible that by the end of this year inventory will be at its highest point since 2011.