{"id":104999,"date":"2018-02-06T09:47:24","date_gmt":"2018-02-06T17:47:24","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=104999"},"modified":"2018-02-06T09:47:24","modified_gmt":"2018-02-06T17:47:24","slug":"nwmls-closed-sales-plummet-listings-still-scarce","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/","title":{"rendered":"NWMLS: Closed sales plummet, listings still scarce"},"content":{"rendered":"<p><em>Get access to the full spreadsheets used to make the charts in this and other posts, as well as a variety of additional insider benefits by <a href=\"http:\/\/seattlebubble.com\/blog\/membership\/\" title=\"Seattle Bubble Membership\">becoming a member of Seattle Bubble<\/a>.<\/em><\/p>\n<p>January market stats have been published by the NWMLS. Here&#8217;s a quick excerpt from their <a href=\"http:\/\/www.northwestmls.com\/index.cfm?\/News--Information\" title=\"NWMLS Press Release\">press release<\/a>:<\/p>\n<blockquote><p><strong>Home Buyers Still Competing for Sparse Inventory in Western Washington, Driving Up Prices &#8211; Especially for Sought-After Condominiums<br \/>\n<\/strong><\/p>\n<p>&#8220;The Seattle area real estate market hasn&#8217;t skipped a beat with pent-up demand from buyers is stronger than ever,&#8221; remarked broker John Deely in reacting to the latest statistics from Northwest Multiple Listing Service. The report on January activity shows a slight year-over-year gain in pending sales, a double-digit increase in prices, and continued shortages of inventory.<br \/>\n&#8230;<br \/>\n&#8220;The decline in sales last month can&#8217;t be blamed on the holidays, weather or football. It&#8217;s simply due to the ongoing shortage of housing that continues to plague markets throughout Western Washington,&#8221; said OB Jacobi, the president of Windermere Real Estate.<\/p><\/blockquote>\n<p>Bummer for home salespeople that they can&#8217;t use the &#8220;football&#8221; excuse they usually throw out in January. Not that there&#8217;s really anything in these latest numbers for them to be concerned about.<\/p>\n<p>Now let&#8217;s dive into the numbers for January.<\/p>\n<div style=\"width: 590px; margin:0 auto 15px; border: 5px solid #000000; background:#FFFF00; color:#000000; font-variant: small-caps; font-size:130%; font-weight: bold; text-align: center; padding: 3px;\">\n<div style=\"font-size: 150%; background:#000000; color:#FFFF00; margin:-3px -3px -10px; padding:5px;\">CAUTION<\/div>\n<p><\/p>\n<p style=\"margin:0;\">NWMLS monthly reports include an <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/08\/11\/one-more-look-at-bogus-reports-from-the-nwmls\/\" title=\"One More Look at Bogus Reports from the NWMLS\" style=\"color:#000000; text-decoration:underline;\">undisclosed and varying number<\/a> of<br \/>sales from previous months in their pending and closed sales statistics.<\/p>\n<\/div>\n<p>Here&#8217;s your King County SFH summary, with the arrows to show whether the year-over-year direction of each indicator is favorable or unfavorable news for buyers and sellers (green = favorable, red = unfavorable):<\/p>\n<style>.CNNTable {margin: 5px auto 15px;} .CNNTable td {padding: 0px 5px; text-align: center; font-size: .9em;} .top_row {font-weight: bold;} .CNNTable img {border:0;margin:0;}<\/style>\n<table class=\"CNNTable\" border=\"1\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:450px;\">\n<tr class=\"top_row\">\n<th style=\"font-size: 105%; border-top: 0; border-left: 0;\">January 2018<\/th>\n<th>Number<\/th>\n<th>MOM<\/th>\n<th>YOY<\/th>\n<th>Buyers<\/th>\n<th>Sellers<\/th>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Active Listings<\/td>\n<td>1,243<\/td>\n<td>+6.4%<\/td>\n<td>-20.8%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Closed Sales<\/td>\n<td>1,259<\/td>\n<td>-39.9%<\/td>\n<td>-20.4%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">SAAS (<a href=\"http:\/\/seattlebubble.com\/blog\/2009\/04\/27\/seasonally-adjusted-active-supply-a-new-measure-of-market-virility\/\" title=\"Seasonally Adjusted Active Supply: A New Measure of Market Virility\">?<\/a>)<\/td>\n<td>1.01<\/td>\n<td>+17.4%<\/td>\n<td>+26.1%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Pending Sales<\/td>\n<td>1,747<\/td>\n<td>+19.7%<\/td>\n<td>-9.9%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Months of Supply<\/td>\n<td>0.99<\/td>\n<td>+77.0%<\/td>\n<td>-0.5%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;\">Median Price<a href=\"http:\/\/seattlebubble.com\/blog\/2010\/03\/10\/declines-in-kings-median-price-softened-by-sales-shifts\/\" title=\"Declines in King's Median Price Softened by Sales Shifts\">*<\/a><\/td>\n<td>$628,388<\/td>\n<td>-1.0%<\/td>\n<td>+19.7%<\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/down-red.gif\" \/><\/td>\n<td><img decoding=\"async\" src=\"\/images-global\/up-green.gif\" \/><\/td>\n<\/tr>\n<\/table>\n<p>Inventory is at its lowest January level ever, and new listings were only barely above last year&#8217;s record-low level. Despite having nearly the same number of new listings as last year, closed sales and pending sales are both down considerably. Meanwhile, prices are up nearly twenty percent year-over-year.<\/p>\n<p>Here&#8217;s your closed sales yearly comparison chart:<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Closed Sales\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHClosed_2018-01.png\" rel=\"lightbox[104999]\"><img decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Closed Sales - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHClosed_2018-01.png\" alt=\"King County SFH Closed Sales\" \/><\/a><\/p>\n<p>Closed sales fell forty percent between December and January. Last year over the same period closed sales were down twenty-seven percent. Year-over-year closed sales were down twenty percent. That&#8217;s a pretty big decline. It will be interesting to see if sales pick up in the next few months or keep dropping.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Pending Sales\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPending_2018-01.png\" rel=\"lightbox[104999]\"><img decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Pending Sales - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPending_2018-01.png\" alt=\"King County SFH Pending Sales\" \/><\/a><\/p>\n<p>Pending sales were up twenty percent from December to January, and were down ten percent year-over-year.<\/p>\n<p>Here&#8217;s the graph of inventory with each year overlaid on the same chart.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Inventory\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHInventory_2018-01.png\" rel=\"lightbox[104999]\"><img decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Inventory - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHInventory_2018-01.png\" alt=\"King County SFH Inventory\" \/><\/a><\/p>\n<p>Inventory rose six percent from December to January, and was down twenty-one percent from last year. Total on-market listings are the lowest level for any January on record.<\/p>\n<p>Here&#8217;s the chart of new listings:<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH New Listings\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHNewListings_2018-01.png\" rel=\"lightbox[104999]\"><img decoding=\"async\" style=\"border: 0;\" title=\"King County SFH New Listings - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHNewListings_2018-01.png\" alt=\"King County SFH New Listings\" \/><\/a><\/p>\n<p>New listings were up just 0.3 percent from a year ago&mdash;a whopping <em>six<\/em> more homes hit the market this January compared to January 2017.<\/p>\n<p>Here&#8217;s the supply\/demand YOY graph. &#8220;Demand&#8221; in this chart is represented by closed sales, which have had a consistent definition throughout the decade (unlike pending sales from NWMLS).<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a title=\"King County Supply vs Demand % Change YOY\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSupplyVsDemandPct_2018-01.png\" rel=\"lightbox[104999]\"><img decoding=\"async\" style=\"border: 0;\" title=\"King County Supply vs Demand % Change YOY - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSupplyVsDemandPct_2018-01.png\" alt=\"King County Supply vs Demand % Change YOY\" \/><\/a><\/p>\n<p>The drop in closed sales is actually pretty sudden and severe in this chart. The last time the year-over-year change in closed sales was anywhere near this low was late 2010.<\/p>\n<p>Here&#8217;s the median home price YOY change graph:<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH YOY Price Change\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPrices_2018-01.png\" rel=\"lightbox[104999]\"><img decoding=\"async\" style=\"border: 0;\" title=\"King County SFH YOY Price Change - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPrices_2018-01.png\" alt=\"King County SFH YOY Price Change\" \/><\/a><\/p>\n<p>Year-over-year price changes shot up to their highest level since March 2016, nearly hitting twenty percent again.<\/p>\n<p>And lastly, here is the chart comparing King County SFH prices each month for every year back to 1994 (not adjusted for inflation).<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Prices\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png\" rel=\"lightbox[104999]\"><img decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Prices - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png\" alt=\"King County SFH Prices\" \/><\/a><\/p>\n<p>Down slightly from December and currently about $30k below the all-time high hit last July.<\/p>\n<p>January 2018: $628,388<br \/>\nJuly 2007: $481,000 <em>(previous cycle high)<\/em><\/p>\n<p>Here&#8217;s the article from the Seattle Times: <a href=\"https:\/\/www.seattletimes.com\/business\/real-estate\/king-county-housing-market-kicks-off-2018-even-hotter-than-before-as-seattle-breaks-price-record\/\" title=\"King County housing market kicks off 2018 even hotter than before, as Seattle breaks price record\">King County housing market kicks off 2018 even hotter than before, as Seattle breaks price record<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>January market stats have been published by the NWMLS. Here&#8217;s a quick excerpt from their press release:<\/p>\n<blockquote><p><strong>Home Buyers Still Competing for Sparse Inventory in Western Washington, Driving Up Prices &#8211; Especially for Sought-After Condominiums<br \/>\n<\/strong><\/p>\n<p>&#8220;The Seattle area real estate market hasn&#8217;t skipped a beat with pent-up demand from buyers is stronger than ever,&#8221; remarked broker John Deely in reacting to the latest statistics from Northwest Multiple Listing Service. The report on January activity shows a slight year-over-year gain in pending sales, a double-digit increase in prices, and continued shortages of inventory.<br \/>\n&#8230;<br \/>\n&#8220;The decline in sales last month can&#8217;t be blamed on the holidays, weather or football. It&#8217;s simply due to the ongoing shortage of housing that continues to plague markets throughout Western Washington,&#8221; said OB Jacobi, the president of Windermere Real Estate.<\/p><\/blockquote>\n<p>Bummer for home salespeople that they can&#8217;t use the &#8220;football&#8221; excuse they usually throw out in January. Not that there&#8217;s really anything in these latest numbers for them to be concerned about.<\/p>\n<p>Now let&#8217;s dive into the numbers for January\u2026<\/p>\n<p>Inventory is at its lowest January level ever, and new listings were only barely above last year&#8217;s record-low level. Despite having nearly the same number of new listings as last year, closed sales and pending sales are both down considerably. Meanwhile, prices are up nearly twenty percent year-over-year.<\/p>\n","protected":false},"author":2,"featured_media":105003,"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: NWMLS: Closed sales plummet, listings still scarce","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":[6,521,200],"coauthors":[1158],"class_list":["post-104999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stats","category-counties","tag-nwmls","tag-saas","tag-statistics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NWMLS: Closed sales plummet, listings still scarce \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\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NWMLS: Closed sales plummet, listings still scarce \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"January market stats have been published by the NWMLS. Here&#039;s a quick excerpt from their press release:  Home Buyers Still Competing for Sparse Inventory in Western Washington, Driving Up Prices - Especially for Sought-After Condominiums   &quot;The Seattle area real estate market hasn&#039;t skipped a beat with pent-up demand from buyers is stronger than ever,&quot; remarked broker John Deely in reacting to the latest statistics from Northwest Multiple Listing Service. The report on January activity shows a slight year-over-year gain in pending sales, a double-digit increase in prices, and continued shortages of inventory. ... &quot;The decline in sales last month can&#039;t be blamed on the holidays, weather or football. It&#039;s simply due to the ongoing shortage of housing that continues to plague markets throughout Western Washington,&quot; said OB Jacobi, the president of Windermere Real Estate.  Bummer for home salespeople that they can&#039;t use the &quot;football&quot; excuse they usually throw out in January. Not that there&#039;s really anything in these latest numbers for them to be concerned about.  Now let&#039;s dive into the numbers for January\u2026  Inventory is at its lowest January level ever, and new listings were only barely above last year&#039;s record-low level. Despite having nearly the same number of new listings as last year, closed sales and pending sales are both down considerably. Meanwhile, prices are up nearly twenty percent year-over-year.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/\",\"name\":\"NWMLS: Closed sales plummet, listings still scarce \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png\",\"datePublished\":\"2018-02-06T17:47:24+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png\",\"width\":915,\"height\":666},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NWMLS: Closed sales plummet, listings still scarce\"}]},{\"@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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Here's a quick excerpt from their press release:  Home Buyers Still Competing for Sparse Inventory in Western Washington, Driving Up Prices - Especially for Sought-After Condominiums   \"The Seattle area real estate market hasn't skipped a beat with pent-up demand from buyers is stronger than ever,\" remarked broker John Deely in reacting to the latest statistics from Northwest Multiple Listing Service. The report on January activity shows a slight year-over-year gain in pending sales, a double-digit increase in prices, and continued shortages of inventory. ... \"The decline in sales last month can't be blamed on the holidays, weather or football. It's simply due to the ongoing shortage of housing that continues to plague markets throughout Western Washington,\" said OB Jacobi, the president of Windermere Real Estate.  Bummer for home salespeople that they can't use the \"football\" excuse they usually throw out in January. Not that there's really anything in these latest numbers for them to be concerned about.  Now let's dive into the numbers for January\u2026  Inventory is at its lowest January level ever, and new listings were only barely above last year's record-low level. Despite having nearly the same number of new listings as last year, closed sales and pending sales are both down considerably. Meanwhile, prices are up nearly twenty percent year-over-year.","twitter_image":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png","twitter_creator":"@The_Tim","twitter_site":"@SeattleBubble","twitter_misc":{"Written by":"The Tim","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/","url":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/","name":"NWMLS: Closed sales plummet, listings still scarce \u2022 Seattle Bubble","isPartOf":{"@id":"https:\/\/seattlebubble.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#primaryimage"},"image":{"@id":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#primaryimage"},"thumbnailUrl":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png","datePublished":"2018-02-06T17:47:24+00:00","author":{"@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f"},"breadcrumb":{"@id":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#primaryimage","url":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png","contentUrl":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png","width":915,"height":666},{"@type":"BreadcrumbList","@id":"https:\/\/seattlebubble.com\/blog\/2018\/02\/06\/nwmls-closed-sales-plummet-listings-still-scarce\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/seattlebubble.com\/blog\/"},{"@type":"ListItem","position":2,"name":"NWMLS: Closed sales plummet, listings still scarce"}]},{"@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. His background in engineering and computer \/ internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.","sameAs":["http:\/\/SeattleBubble.com\/","http:\/\/facebook.com\/is.totally.pointless","https:\/\/x.com\/The_Tim"],"url":"https:\/\/seattlebubble.com\/blog\/author\/timothyellis\/"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/02\/KingCoSFHPricesYearly_2018-01.png","jetpack_shortlink":"https:\/\/wp.me\/p6wh0F-rjx","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/104999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/comments?post=104999"}],"version-history":[{"count":0,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/104999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/media\/105003"}],"wp:attachment":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/media?parent=104999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/categories?post=104999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/tags?post=104999"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/coauthors?post=104999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}