local real estate news, statistics, and commentary without the sales spin.
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 August data that was released today, Seattle-area home prices were: Up 0.5 percent October to November Up 9.7 percent YOY. Down 3.2 percent from the July 2007 peak Over the same period in 2014 prices were down 0.3 percent…
After setting a new all-time low inventory level in November, listings dropped off dramatically yet again to set another new all-time low in December. Here’s hoping we see somewhat of a turnaround in inventory for 2016. If not, expect another overheated year.
Now that the last month of 2015 is behind us, let’s have a look at our monthly stats preview. Sales actually rose in both counties month-over-month, as inventory fell to new all-time lows. Foreclosure notices are near their low points, and inched up from November in both counties.
November market stats were published by the NWMLS on Friday. This is the first time in quite a while we’ve seen any green arrows for buyers in the summary table. However, it’s hard to get even a little bit excited, given the all-time low inventory level. At this point there are so few homes for sale that it’s going to be difficult for sales to come in very strong.