Looks like a Sellers market but still acts like a Buyers market. Inventory is low and Buyers are negotiating great deals.
The number of houses for sale continues to drop from last year and last month - not unusual for this time of year though. The North Seattle neighborhoods have as low as 3.2 months supply of houses for sale and on the high end are the Edmonds condos at 7.9 months of supply. Overall King County inventory is at 4.2 months.
Short Sales and Foreclosures:
King County's short sales and foreclosure active listings are about 30% of inventory. On the low end is Redmond with only 15% of active listings being in the foreclosure and short sale market and Kirkland condos are at the high end at 49%. Foreclosures and short sales are up from October from 1 to 6 percentage points in most areas.
In November, King County's median and average prices were down 11%. Better than October's year over year comparison which was down 12% (average) and 15% (median). Sammamish continues to be faring the best with a stable 1 to 4 percent rise in median prices and the Kirkland condo market's comparison is down 36% from last year. I've been seeing some unbeleivable good deals in the Kirkland condo market.