{"id":15706,"date":"2011-05-24T10:33:08","date_gmt":"2011-05-24T17:33:08","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=15706"},"modified":"2011-05-24T10:33:08","modified_gmt":"2011-05-24T17:33:08","slug":"heres-why-selection-stinks-right-now-around-seattle","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/","title":{"rendered":"Here&#8217;s why selection stinks right now around Seattle."},"content":{"rendered":"<p><span style=\"font-size:85%; font-style:italic;\">Full disclosure: The Tim is <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/07\/14\/some-noteworthy-personal-news\/\" title=\"Some Noteworthy Personal News\u2026\">employed by Redfin<\/a>.<\/span><\/p>\n<p>I just posted a lengthy write-up on the bizarre current state of the &#8220;national&#8221; real estate market <a href=\"http:\/\/blog.redfin.com\/blog\/2011\/05\/if_us_real_estate_inventory_is_so_overwhelming_where_is_it_all_hiding.html\" title=\"If U.S. real estate inventory is so &quot;overwhelming,&quot; where is it all hiding?\">over on Redfin<\/a>, and thought you all might be interested in some of the more Seattle-specific data I pulled when doing research for the post.<\/p>\n<p>First up, a look at new listings and total standing inventory in King County, comparing this year to last year broken down by bank owned and non-distressed:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle.png\" title=\"Seattle Inventory: Change from 2010 to 2011\" rel=\"lightbox[15706]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle-600x435.png\" style=\"border: 0;\" title=\"Seattle Inventory: Change from 2010 to 2011 - Click to enlarge\" alt=\"Seattle Inventory: Change from 2010 to 2011\" width=\"600\" height=\"435\" \/><\/a><\/p>\n<p>Wowzers.  Bank owned inventory up big this year around Seattle, while non-distressed sellers seem to have decided to just sit it out.<\/p>\n<p>Meanwhile, bank owned homes are selling a bit better than non-distressed listings, but the difference isn&#8217;t huge:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Absorption-Seattle.png\" title=\"Percent of New Listings in King County Listed January 1 - March 31 that Sold by May 11\" rel=\"lightbox[15706]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Absorption-Seattle-600x435.png\" style=\"border: 0;\" title=\"Percent of New Listings in King County Listed January 1 - March 31 that Sold by May 11 - Click to enlarge\" alt=\"Percent of New Listings in King County Listed January 1 - March 31 that Sold by May 11\" width=\"600\" height=\"435\" \/><\/a><\/p>\n<p>Of course, the absorption of short sales is just pitiful.  Yikes.<\/p>\n<p>Finally, this chart was included in my Redfin post, but is worth repeating here.  It shows the size-adjusted median price trend for bank owned homes and non-distressed homes.  Note that they&#8217;re plotted on different vertical axis in order to better compare the direction of the trend.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Median-SqFt-Trends-King.png\" title=\"Seattle-Area SFH Median Sold $\/SqFt\" rel=\"lightbox[15706]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Median-SqFt-Trends-King-600x435.png\" style=\"border: 0;\" title=\"Seattle-Area SFH Median Sold $\/SqFt - Click to enlarge\" alt=\"Seattle-Area SFH Median Sold $\/SqFt\" width=\"600\" height=\"435\" \/><\/a><\/p>\n<p>The size-adjusted median price of non-distressed sales has picked up just a bit in the last few months while bank owned prices have basically flattened.  It will be interesting to see if this is the start of a trend (due to the increasing rarity of non-distressed listings) or just a spring blip.<\/p>\n<p>Finally, I created this Venn diagram for <a href=\"http:\/\/blog.redfin.com\/blog\/2011\/05\/if_us_real_estate_inventory_is_so_overwhelming_where_is_it_all_hiding.html\" title=\"If U.S. real estate inventory is so &quot;overwhelming,&quot; where is it all hiding?\">the Redfin post<\/a> to illustrate the supply and demand dynamics we&#8217;re seeing in the market today, and I was so pleased with how simply it conveys the point that I wanted to share it here as well:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/blog.redfin.com\/blog\/2011\/05\/if_us_real_estate_inventory_is_so_overwhelming_where_is_it_all_hiding.html\" title=\"If U.S. real estate inventory is so &quot;overwhelming,&quot; where is it all hiding?\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Redfin-Venn-600x257.png\" style=\"border: 0;\" title=\"Venn diagram: Real Estate Market 2011\" alt=\"Venn diagram: Real Estate Market 2011\" width=\"600\" height=\"257\" \/><\/a><\/p>\n<p>Thoughts?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Full disclosure: The Tim is employed by Redfin. I just posted a lengthy write-up on the bizarre current state of the &#8220;national&#8221; real estate market over on Redfin, and thought you all might be interested in some of the more Seattle-specific data I pulled when doing research for the post. First up, a look at&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"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":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[300,7,129,82,254,275,52],"coauthors":[],"class_list":["post-15706","post","type-post","status-publish","format-standard","hentry","category-features","tag-distressed-sales","tag-foreclosures","tag-inventory","tag-redfin","tag-sales","tag-short-sales","tag-supply"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Here&#039;s why selection stinks right now around Seattle. \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\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Here&#039;s why selection stinks right now around Seattle. \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Full disclosure: The Tim is employed by Redfin. I just posted a lengthy write-up on the bizarre current state of the &#8220;national&#8221; real estate market over on Redfin, and thought you all might be interested in some of the more Seattle-specific data I pulled when doing research for the post. First up, a look at...\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/\",\"name\":\"Here's why selection stinks right now around Seattle. \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle-600x435.png\",\"datePublished\":\"2011-05-24T17:33:08+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle.png\",\"width\":\"914\",\"height\":\"664\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Here&#8217;s why selection stinks right now around Seattle.\"}]},{\"@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\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Here's why selection stinks right now around Seattle. \u2022 Seattle Bubble","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/","twitter_card":"summary_large_image","twitter_title":"Here's why selection stinks right now around Seattle. \u2022 Seattle Bubble","twitter_description":"Full disclosure: The Tim is employed by Redfin. I just posted a lengthy write-up on the bizarre current state of the &#8220;national&#8221; real estate market over on Redfin, and thought you all might be interested in some of the more Seattle-specific data I pulled when doing research for the post. First up, a look at...","twitter_image":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle.png","twitter_creator":"@The_Tim","twitter_site":"@SeattleBubble","twitter_misc":{"Written by":"The Tim","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/","url":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/","name":"Here's why selection stinks right now around Seattle. \u2022 Seattle Bubble","isPartOf":{"@id":"https:\/\/seattlebubble.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#primaryimage"},"image":{"@id":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#primaryimage"},"thumbnailUrl":"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle-600x435.png","datePublished":"2011-05-24T17:33:08+00:00","author":{"@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f"},"breadcrumb":{"@id":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#primaryimage","url":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle.png","contentUrl":"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/05\/Inventory-Changes-Seattle.png","width":"914","height":"664"},{"@type":"BreadcrumbList","@id":"https:\/\/seattlebubble.com\/blog\/2011\/05\/24\/heres-why-selection-stinks-right-now-around-seattle\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/seattlebubble.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Here&#8217;s why selection stinks right now around Seattle."}]},{"@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":"","jetpack_shortlink":"https:\/\/wp.me\/p6wh0F-45k","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/15706","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=15706"}],"version-history":[{"count":0,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/15706\/revisions"}],"wp:attachment":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/media?parent=15706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/categories?post=15706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/tags?post=15706"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/coauthors?post=15706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}