Tax Credit Hangover? King Count Residential Pending Sales Drop Dramatically!

Real Estate Agent with Windermere Real Estate N.E.

By Greg Perry
Kirkland Realtor

King County Residential Pending Sales

First things first.  As I post the following statistics, there is a chance that the last two weeks are not accurate.  The NWMLS switched databases from a company called Locator to Matrix.  During the change over, Pending input was not allowed for a few days (last week).  That week we went from 616residential Pending Sales in King County to 314.  I would have thought that this week would have balanced the numbers back some, however, this week's Pending sales were only 360.

Focus on the colors for a moment.  Green = Buyer's market (greater than 6 months of inventory at the current rate of sale), Yellow = Balanced market (between 3 and 6 months of inventory) and Red = Seller's Market (less than 3 months of inventory).  The last two weeks show a dramatic color shift in the chart.

We'll watch this carefully.  Has the market dropped off that quickly?  Are the numbers affected by the database change over?

Stay tuned.......



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