local real estate news, statistics, and commentary without the sales spin.
Now that June is behind us, let’s have our first look at how the month’s real estate stats stack up.
June was a mixed bag. Sales hit their highest level since 2007 in King County and a new all-time high in Snohomish County. Despite this, active listings saw unusually large month-over-month increases in both counties. Foreclosures are still at or near lows…
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller.
Between March and April, the low tier increased 1.9 percent, the middle tier rose 2.2 percent, and the high tier was up 2.0 percent.
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to January data that was released today, Seattle-area home prices were:
Up 2.1 percent March to April
Up 10.7 percent YOY.
Up 2.5 percent from the July 2007 peak
Over the same period last year prices were up 2.2 percent month-over-month and year-over-year prices were up 7.4 percent.
The Seattle area’s Case-Shiller home price index hit another new all-time high in April, and saw the largest month-over-month gain of all twenty Case-Shiller-tracked cities for the second month in a row.
May market stats were published by the NWMLS yesterday.
Pending sales of single-family homes in King County hit an all-time high in May. This does not bode well for buyers hoping for any sort of relief from stiff competition and fast-rising prices. Inventory did increase month-over-month, but barely.
This post is a little tardy, but I wanted to make sure these charts were posted nonetheless. I’ll post yesterday’s NWMLS numbers a little later this morning. 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:…