|Current Market Statistics|
The links below provide a graphical summary of Real Estate Market Statistics for the Seattle/Bellevue/King County area over the most recent 3 years, for single-family homes and for condominiums.
Here's the charts for the current stats through November: (Required disclaimer: Statistics and graphs not compiled, reviewed or verified by the Northwest Multiple Listing Service)
Monthly sales rates (number of transactions) for single-family homes are still significantly lower than at the same time last year. The number of new listings coming on the market continues to slow, as is seasonally expected. The Months Supply inventory number has dropped jogged up a bit again, but is still (barely) below the 8-month mark. The Fall-Out Ratio remains high, probably indicating a fair number of short sale offers still waiting on lender acceptance.
The condominium sales rate also continues significantly below both a year ago and two years ago, and now the median price has slipped even further from the stable range we've been in for the past year and a half, and the Months Supply rating has pushed up further, now above 13 months, and we are clearly seeing the effects of the pricing pressure you'd expect in a Buyers market.
Condominiums are not a homogeneous market, and we'll have a more in-depth analysis for you next month - stay tuned :-)
The Reiling Team website, www.GreaterSeattleHomesToday.com, has links on it for Current Weather and Current Traffic both of which may be pretty useful in our variable Winter weather - and I'll bet we'll get another chance to go sledding :-) If you want to run an ongoing search to keep an eye on your neighborhood, just visit our search site, Greater Seattle Home Search, and set it up. The main ReilingTeam site is also a pretty good landing site for any out-of-state friends you have that are thinking of relocating to the Seattle area. If you have any questions or just want to swap ideas on any real estate-related topic, we are always available to help you. And because our business depends on referrals, we appreciate your keeping an ear out for likely candidates to send our way - buyers, sellers, investors - and particularly for your out-of-town friends who want to move here!