{"id":14789,"date":"2011-03-14T11:01:47","date_gmt":"2011-03-14T18:01:47","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=14789"},"modified":"2011-03-14T11:01:47","modified_gmt":"2011-03-14T18:01:47","slug":"redfin-real-estate-bizarro-world-in-seattle-in-february","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/03\/14\/redfin-real-estate-bizarro-world-in-seattle-in-february\/","title":{"rendered":"Redfin: Real Estate Bizarro World in Seattle in February"},"content":{"rendered":"

Full disclosure: The Tim is employed by Redfin<\/a>.<\/span><\/p>\n

Last Thursday Redfin released their February market data<\/a>. Here’s an excerpt from the narrative (which I also wrote)<\/em>:<\/p>\n

Welcome to Real Estate Bizarro World, where falling supply means falling prices and scarce demand still leads to multiple offer situations. 2011 continues to shape up as an unusual year for the Seattle-area real estate market, with the number of homes for sale in February falling when it should be rising, the number of buyers still near all-time lows, and prices showing persistent signs of weakness.
\n…
\nWith prices still dropping, buyers are exercising their muscle. “Buyers have a price in their head of what they’re willing to pay for a house, and they’re not willing to budge,” said Michelle. “They want to battle. They go into it looking for a deal and ready to beat people up.”<\/p>\n

“Buyers are not acquiescing to sellers,” agreed Kevin. “It may be a seller’s market by the numbers, but you need to be careful because buyers are very cautious and risk-averse.”<\/p><\/blockquote>\n

You can download the full spreadsheet from Redfin here<\/a>, and as usual, I’m going to map the data here.<\/p>\n

In the map below each zip code with enough sales in February is shown as a dot, with the size of the dot determined by the number of sales in that zip code in the month. Each dot is color-coded based on whichever measure you select below the map. You can view the month-over-month or year-over-year changes in inventory, sales, median prices, or median prices per square foot. There is also a county selector that allows you to narrow, expand, or modify the view to your liking.<\/p>\n

\n