All over King County, inventory is dropping. Some neighborhoods have as low as 3.8 months supply of houses for sale. That is a seller's market and as long as houses are listed competitively, many sellers are getting more than one offer.
King County's short sale and foreclosure market is about 20% of inventory and prices are down 8% from last year.
I track many neighborhoods and am glad to give you statistics and trends on any neighborhood or area you are interested in. Here are some highlights:
Shoreline looks like it could be starting to stabilize with prices being only 2% down from last year. Comparing this to most neighborhoods - it's good!
Sammamish has consistently been 2-4% up from last year.
The down markets are currently Edmonds (prices haven't indicated this much of a drop until now and this is actually Snohomish County) and South Seattle, both 11% down from last year.
Most neighborhood prices are up and down from month to month.
The condo market is still down although some neighborhoods are beginning to look better. Downtown has the appearance of a possible stabilization and I believe this is where it will first begin.