Now that 2008 Q4 + 1 month is in the past, let’s have an updated look at the relationship between pending and closed sales. In Q2, 15.9% of pending sales fell through. In Q3, it was 20.7%. Below is the updated chart including 2008 Q4. It shows quarterly King County SFH pending sales volume from…
Tag: sales
2008 Real Estate Market In Review
The local papers ran some new stories yesterday about the 2008 full-year report from the NWMLS (pdf). I thought the story would be better conveyed through a few simple charts.
Puget Sound Counties December Update
Let’s check in on the NWMLS statistics from around the sound. Here’s where the YOY stats stand for each of the six counties as of December 2008: (Note: The “Sales” data below represents pending sales, not closed sales.) King – Price: -7.2% | Listings: +6.4% | Sales: -16.1% | MOS: 9.6 Snohomish – Price: -11.2%…
Fourth Quarter Sales in the Gutter, Delistings Stable
Let’s take a look at 2008’s fourth quarter closed sales volume for King County: That’s a drop of 31% from 2007, and also 31% from the previous quarter. The “usual” drop from Q3 to Q4 is 10-20%. At this point, I really don’t think sales have much further to drop. They’re practically as low as…
Delistings Stabilized in November
Here’s the breakdown of homes on the market and homes that went off the market last month in King County (SFH only). While the number of delistings had been dramatically increasing year-over-year earlier since June last year—even reaching 200% YOY in April—the rapid growth seems to have leveled off, with November’s 1,758 delistings nearly matching…