{"id":103728,"date":"2016-04-08T09:45:43","date_gmt":"2016-04-08T16:45:43","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=103728"},"modified":"2016-04-20T15:26:55","modified_gmt":"2016-04-20T22:26:55","slug":"around-sound-hope-hard-find-buyers","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/","title":{"rendered":"Around the Sound: Hope is Hard to Find for Buyers"},"content":{"rendered":"<p><em>Get access to the full spreadsheets used to make the charts in this and other posts, and support the ongoing work on this site by <a href=\"http:\/\/seattlebubble.com\/blog\/membership\/\" title=\"Seattle Bubble Membership\">becoming a member of Seattle Bubble<\/a>.<\/em><\/p>\n<p>We haven&#8217;t updated our monthly stats for the local regions outside of the King\/Snohomish core since last year, so let&#8217;s have a look. Here&#8217;s your March update to our &#8220;Around the Sound&#8221; statistics for Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.<\/p>\n<p>How is the market doing outside of the central King County area? Not much different, really. Listings are super-scarce, demand is reasonably strong, and prices keep going up.<\/p>\n<p>First up, a summary table:<\/p>\n<style>.CNNTable {margin: 5px auto 15px;} .CNNTable td {padding: 0px 5px 0px 0px; text-align: right; font-size: .9em;} .top_row {font-weight: bold;} .CNNTable th {padding: 0px 5px 0px 0px; text-align:right;} .CNNTable img {border:0;margin:0;}<\/style>\n<table class=\"CNNTable\" border=\"1\" cellpadding=\"0\" cellspacing=\"0\">\n<tr class=\"top_row\">\n<th style=\"font-size: 105%; border-top: 0; border-left: 0;\">March 2016<\/th>\n<th>King<\/th>\n<th>Snohomish<\/th>\n<th>Pierce<\/th>\n<th>Kitsap<\/th>\n<th>Thurston<\/th>\n<th>Island<\/th>\n<th>Skagit<\/th>\n<th>Whatcom<\/th>\n<\/tr>\n<tr>\n<td>Median Price<\/td>\n<td>$531,250<\/td>\n<td>$385,000<\/td>\n<td>$265,000<\/td>\n<td>$279,475<\/td>\n<td>$239,900<\/td>\n<td>$305,000<\/td>\n<td>$277,000<\/td>\n<td>$303,000<\/td>\n<\/tr>\n<tr>\n<td>Price YOY<\/td>\n<td>20.7%<\/td>\n<td>13.2%<\/td>\n<td>8.2%<\/td>\n<td>16.3%<\/td>\n<td>4.8%<\/td>\n<td>24.5%<\/td>\n<td>12.1%<\/td>\n<td>12.2%<\/td>\n<\/tr>\n<tr>\n<td>Active Listings<\/td>\n<td>2,157<\/td>\n<td>1,124<\/td>\n<td>1,715<\/td>\n<td>539<\/td>\n<td>706<\/td>\n<td>342<\/td>\n<td>414<\/td>\n<td>738<\/td>\n<\/tr>\n<tr>\n<td>Listings YOY<\/td>\n<td>-21.2%<\/td>\n<td>-25.7%<\/td>\n<td>-32.9%<\/td>\n<td>-33.0%<\/td>\n<td>-31.2%<\/td>\n<td>-27.8%<\/td>\n<td>-12.5%<\/td>\n<td>-8.3%<\/td>\n<\/tr>\n<tr>\n<td>Closed Sales<\/td>\n<td>1,910<\/td>\n<td>938<\/td>\n<td>1,185<\/td>\n<td>334<\/td>\n<td>358<\/td>\n<td>109<\/td>\n<td>155<\/td>\n<td>235<\/td>\n<\/tr>\n<tr>\n<td>Sales YOY<\/td>\n<td>-8.7%<\/td>\n<td>6.5%<\/td>\n<td>20.1%<\/td>\n<td>-1.2%<\/td>\n<td>12.2%<\/td>\n<td>0.0%<\/td>\n<td>13.1%<\/td>\n<td>4.4%<\/td>\n<\/tr>\n<tr>\n<td>Months of Supply<\/td>\n<td>1.1<\/td>\n<td>1.2<\/td>\n<td>1.4<\/td>\n<td>1.6<\/td>\n<td>2.0<\/td>\n<td>3.1<\/td>\n<td>2.7<\/td>\n<td>3.1<\/td>\n<\/tr>\n<\/table>\n<p>It&#8217;s very interesting that Pierce County had the second-smallest price gains in March despite having a massive decrease in inventory and a big spike in closed sales as well. Usually with demand spiking and supply falling that hard I would expect to see a bigger price surge.<\/p>\n<p>Median home prices were up in every single county from a year earlier. King County&#8217;s 21 percent increase was actually the <em>second-largest<\/em>, beat out by a whopping 24 percent increase in Island County. The smallest year-over-year price increase in March was in Thurston, which was up 5 percent.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Price_2016-03.png\" title=\"Median Sale Price Single-Family Homes\" rel=\"lightbox[103728]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Price_2016-03.png\" style=\"border: 0;\" title=\"Median Sale Price Single-Family Homes - Click to enlarge\" alt=\"Median Sale Price Single-Family Homes\" \/><\/a><\/p>\n<p>Listings are down dramatically from a year ago in every county as well. The biggest dips were in Kitsap and Pierce Counties, which were both down by 33 percent from a year earlier. Only Whatcom county saw a single-digit drop, down &#8220;just&#8221; 8 percent.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Listings_2016-03.png\" title=\"Active Listings of Single-Family Homes\" rel=\"lightbox[103728]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Listings_2016-03.png\" style=\"border: 0;\" title=\"Active Listings of Single-Family Homes - Click to enlarge\" alt=\"Active Listings of Single-Family Homes\" \/><\/a><\/p>\n<p>Closed sales were actually flat or up from a year ago in every single county <em>except<\/em> King County in March. The biggest gains were in Pierce County, which saw closed sales increase 20 percent from a year ago. Skagit and Thurston also had big gains at 13 percent and 12 percent, respectively.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Sales_2016-03.png\" title=\"Closed Sales of Single-Family Homes\" rel=\"lightbox[103728]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Sales_2016-03.png\" style=\"border: 0;\" title=\"Closed Sales of Single-Family Homes - Click to enlarge\" alt=\"Closed Sales of Single-Family Homes\" \/><\/a><\/p>\n<p>Months of supply is bleak for buyers everywhere. Every single county had fewer months of supply this March than it did a year ago, and they&#8217;re all deep in seller&#8217;s market territory.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-MOS_2016-03.png\" title=\"Months of Supply Single Family Homes\" rel=\"lightbox[103728]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-MOS_2016-03.png\" style=\"border: 0;\" title=\"Months of Supply Single Family Homes - Click to enlarge\" alt=\"Months of Supply Single Family Homes\" \/><\/a><\/p>\n<p>Finally, here&#8217;s a chart comparing the median price in March to the 2007 peak price in each county. In March Snohomish County joined King County in the &#8220;above the 2007 peak&#8221; club. The other counties are still below their previous peak by anywhere from less than half a percent in Whatcom County to as much as 13 percent in Thurston and Island Counties.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Peak-Price_2016-03.png\" title=\"Peak Median Sale Price Single-Family Homes\" rel=\"lightbox[103728]\"><img decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Peak-Price_2016-03.png\" style=\"border: 0;\" title=\"Peak Median Sale Price Single-Family Homes - Click to enlarge\" alt=\"Peak Median Sale Price Single-Family Homes\" \/><\/a><\/p>\n<p>In summary: It&#8217;s a terrible time to be a home buyer, pretty much no matter where you&#8217;re looking in the Greater Seattle Area. King County is arguably the worst, but the picture doesn&#8217;t get much better in the surrounding counties.<\/p>\n<p>If there is certain data you would like to see or ways you would like to see the data presented differently, drop a comment below and let me know.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We haven&#8217;t updated our monthly stats for the local regions outside of the King\/Snohomish core since last year, so let&#8217;s have a look. Here&#8217;s your March update to our &#8220;Around the Sound&#8221; statistics for Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.<\/p>\n<p>How is the market doing outside of the central King County area? Not much different, really. Listings are super-scarce, demand is reasonably strong, and prices keep going up&#8230;<\/p>\n","protected":false},"author":2,"featured_media":103731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"On the blog: Around the Sound: Hope is Hard to Find for Buyers","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,616],"tags":[458,222,129,58,261,6,259,254,262,169,200,260,514],"coauthors":[],"class_list":["post-103728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stats","category-counties","tag-around-the-sound","tag-graphs","tag-inventory","tag-king_county","tag-kitsap","tag-nwmls","tag-pierce","tag-sales","tag-skagit","tag-snohomish","tag-statistics","tag-thurston","tag-whatcom"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Around the Sound: Hope is Hard to Find for Buyers \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Around the Sound: Hope is Hard to Find for Buyers \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"We haven&#039;t updated our monthly stats for the local regions outside of the King\/Snohomish core since last year, so let&#039;s have a look. Here&#039;s your March update to our &quot;Around the Sound&quot; statistics for Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.  How is the market doing outside of the central King County area? Not much different, really. Listings are super-scarce, demand is reasonably strong, and prices keep going up...\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Price_2016-03.png\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/\",\"name\":\"Around the Sound: Hope is Hard to Find for Buyers \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Price_2016-03.png\",\"datePublished\":\"2016-04-08T16:45:43+00:00\",\"dateModified\":\"2016-04-20T22:26:55+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Price_2016-03.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2016\/04\/Around-the-Sound-Price_2016-03.png\",\"width\":915,\"height\":666},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2016\/04\/08\/around-sound-hope-hard-find-buyers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Around the Sound: Hope is Hard to Find for Buyers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"Tim Ellis is the founder of Seattle Bubble. 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