Here are some stats showing Seattle and Eastside real estate activity through July 2008. The following graph shows the total days on market (CDOM) for houses and condos in King County, beginning in May 2007. As you can see, average listing time before a sale has nearly doubled during that time.
The triangles show that the percentage of sales price compared to original listing price has dropped from 99% to 94%.
The following graph shows the months of housing inventory remaining during the same time period.
The change from 3.3 in May 2007 to 8.6 in July 2008 doesn’t mean that there are 2.5 more homes on the market, since the remaining months of housing inventory evaluator is based also on the number of pending and closed sales in any given month.
For example, in May of 2007 there were 11,188 homes for sale, 3670 pending sales and 3420 closed sales. In July 2008 there were 16,643 homes for sale, 2248 pending sales and 1931 closed sales.
Prediction: We’ve had the typical summer slowdown along with some downbeat housing news over the past six weeks, so I expect the August numbers (which reflect closings of homes that went off market in July) to be even weaker. However, I’d love to be wrong. 
Those stats are due out in mid-September.
