{"id":29055,"date":"2014-07-04T12:00:21","date_gmt":"2014-07-04T19:00:21","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=29055"},"modified":"2014-07-04T15:09:44","modified_gmt":"2014-07-04T22:09:44","slug":"nwmls-sales-inch-prices-climb","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2014\/07\/04\/nwmls-sales-inch-prices-climb\/","title":{"rendered":"NWMLS: Sales Inch Up, Prices Climb Again"},"content":{"rendered":"<p>June market stats were published by the NWMLS yesterday.  Here&#8217;s a snippet from their press release: <a href=\"http:\/\/www.northwestmls.com\/index.cfm?\/News--Information\" title=\"No Summer Slowdown Expected - Brisk Activity Reported\">No Summer Slowdown Expected &#8211; Brisk Activity Reported<\/a>.<\/p>\n<blockquote><p>Listing activity perked up during June, but strong job growth in the Seattle\/King County region has brokers predicting brisk sales with competitive bidding throughout the summer.<br \/>\n&#8230;<br \/>\n&#8220;We are still suffering from low inventory in parts of Snohomish County, and we&#8217;re still seeing multiple offers on the majority of new listings,&#8221; reported Diedre Haines, regional managing broker in Snohomish County for Coldwell Banker Bain and a director with Northwest MLS. She described the market as &#8220;strange,&#8221; adding, &#8220;We are not feeling or sensing the onset of a typical summer slowdown.&#8221;<\/p><\/blockquote>\n<p>Nothing about the current market (or any time in the market over the last 9 years, really) is &#8220;typical.&#8221;<\/p>\n<p>On with our usual monthly stats.<\/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\">\n<tr class=\"top_row\">\n<th style=\"font-size: 105%; border-top: 0; border-left: 0;\">June 2014<\/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>4,452<\/td>\n<td>+7.1%<\/td>\n<td>+5.9%<\/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;\">Closed Sales<\/td>\n<td>2,476<\/td>\n<td>+6.4%<\/td>\n<td>+2.2%<\/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;\">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>1.42<\/td>\n<td>-7.0%<\/td>\n<td>-0.4%<\/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;\">Pending Sales<\/td>\n<td>3,175<\/td>\n<td>-5.2%<\/td>\n<td>+2.7%<\/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<tr>\n<td style=\"text-align: left;\">Months of Supply<\/td>\n<td>1.80<\/td>\n<td>+0.6%<\/td>\n<td>+3.6%<\/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;\">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>$453,500<\/td>\n<td>+2.5%<\/td>\n<td>+6.1%<\/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>Feel free to download the updated <a title=\"Seattle Bubble Spreadsheet\" href=\"[download(Seattle_Bubble.xlsx)]\">Seattle Bubble Spreadsheet<\/a> (<a title=\"Seattle Bubble Spreadsheet (Excel 2003)\" href=\"[download(Seattle_Bubble.xls)]\">Excel 2003 format<\/a>), but keep in mind the caution above.<\/p>\n<p>Inventory grew again in June, but the year-over-year rate slowed down. Meanwhile, sales flipped from falling to climbing, and prices were up again. Price growth May to June was almost exactly the same as last year.<\/p>\n<p>Median Price May to June 2013: +2.4%<br \/>\nMedian Price May to June 2014: +2.5%<\/p>\n<p>Here&#8217;s your closed sales yearly comparison chart:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Closed Sales\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHClosed2014-06.png\" rel=\"lightbox[29055]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Closed Sales - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHClosed2014-06-600x408.png\" alt=\"King County SFH Closed Sales\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Sales hit year-over-year growth mainly because this same time last year saw a month-over-month drop, while this year rose.<\/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; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Inventory\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHInventory2014-06.png\" rel=\"lightbox[29055]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Inventory - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHInventory2014-06-600x408.png\" alt=\"King County SFH Inventory\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Still inching upward, maybe fast enough to surpass 2012 inventory levels before the end of the year.<\/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; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County Supply vs Demand % Change YOY\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSupplyVsDemandPct2014-06.png\" rel=\"lightbox[29055]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County Supply vs Demand % Change YOY - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSupplyVsDemandPct2014-06-600x408.png\" alt=\"King County Supply vs Demand % Change YOY\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>The latest movement in this chart was definitely in sellers&#8217; favor, with the supply line moving down and the demand line moving up.<\/p>\n<p>Here&#8217;s the median home price YOY change graph:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH YOY Price Change\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHPrices2014-06.png\" rel=\"lightbox[29055]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH YOY Price Change - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHPrices2014-06-600x408.png\" alt=\"King County SFH YOY Price Change\" width=\"600\" height=\"408\" \/><\/a><\/p>\n<p>Still hovering in the 5-6 percent range.<\/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; width: 600px; font-size: 0.8em; text-align: center;\"><a title=\"King County SFH Prices\" href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHPricesYearly2014-06.png\" rel=\"lightbox[29055]\"><img loading=\"lazy\" decoding=\"async\" style=\"border: 0;\" title=\"King County SFH Prices - Click to enlarge\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2014\/07\/KingCoSFHPricesYearly2014-06-600x436.png\" alt=\"King County SFH Prices\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>June 2014: $453,500<br \/>\nMarch 2007: $454,950<\/p>\n<p>Here are the articles from the Seattle Times and P-I:<\/p>\n<p>Seattle Times: <a href=\"http:\/\/seattletimes.com\/html\/businesstechnology\/2023987942_mlsjunexml.html\" title=\"King County home prices up 6 percent over year\">King County home prices up 6 percent over year<\/a><br \/>\nSeattle P-I: <a href=\"http:\/\/www.seattlepi.com\/realestate\/article\/Home-supply-ticks-up-but-remains-tight-5598769.php\" title=\"Home supply ticks up but remains tight\">Home supply ticks up but remains tight<\/a><\/p>\n<p>Since today&#8217;s a holiday, I&#8217;m going to hold off on the reporting roundup until Monday. See you then. Happy Independence Day!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>June market stats were published by the NWMLS yesterday. Here&#8217;s a snippet from their press release: No Summer Slowdown Expected &#8211; Brisk Activity Reported. Listing activity perked up during June, but strong job growth in the Seattle\/King County region has brokers predicting brisk sales with competitive bidding throughout the summer. &#8230; &#8220;We are still suffering&#8230;<\/p>\n","protected":false},"author":2,"featured_media":29059,"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: Sales Inch Up, Prices Climb Again http:\/\/wp.me\/pe2Bv-7yD","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":[],"class_list":["post-29055","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: Sales Inch Up, Prices Climb Again \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\/2014\/07\/04\/nwmls-sales-inch-prices-climb\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NWMLS: Sales Inch Up, Prices Climb Again \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"June market stats were published by the NWMLS yesterday. Here&#8217;s a snippet from their press release: No Summer Slowdown Expected &#8211; Brisk Activity Reported. 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