The number of homes that went pending in the greater Seattle area in December 2011 rose more than 20 percent compared to December 2010, according to data recently published by the Northwest Multiple Listing Service (NWMLS). Closed sales rose by seven percent year-to-year in December, and the number of active listings was down 17.2 percent. … Continue Reading
Tag Archives: Seattle area housing market
Were the Zillow Zestimates We Looked at in May 2011 Accurate?
In May of this year I posted on here that I thought Zillow’s Home Value Index was misleading because it was based on Zestimates, which I believe are often significantly inaccurate. Here’s the basic idea (quoted from the May article): In order to get a picture of the current market, I looked at houses that went… Continue Reading
Seattle Area Real Estate Update and Heat Maps for August 2011
Seattle and Eastside housing stats for August 2011 were just released for the 21-county NWMLS area. Here are some highlights: Pending sales were up 26% overall compared to August 2010. Snohomish County pending sales were up more than 46%. The median closed sale price for the entire NWMLS area in August 2011 was $236,000, down… Continue Reading
Seattle and Eastside Real Estate Trends for July 2011
Here are Seattle and Eastside residential housing market charts showing real estate price and inventory trends from 2007 through July 2011. Seattle charts: Eastside charts: It looks like they mislabeled the months on the “Supply of Inventory” graph for the Eastside; I believe the year label is correct. *These charts were created by Windermere Real… Continue Reading
Seattle Area Real Estate Heat Maps for July 2011
King and Snohomish County real estate heat maps based on months of housing inventory available in July 2011 show that the region has shifted from a buyer’s market to a more balanced market. In the graph below yellow means balanced, green is a buyer’s market, and red is a seller’s market. The heat maps below… Continue Reading
Seattle Housing Market Update for Summer 2011
Based on what I’ve been seeing and the ‘word on the street’ from other agents at my Windermere office meeting this morning, things are finally starting to slow down a bit, after a spring that was so busy we approached most potential purchases expecting to have to compete against other offers. The slowdown is not surprising from… Continue Reading
More Misleading Seattle Housing Stats – Zillow Zestimates are Off
In the ongoing quest for housing data that actually provides consumers with accurate information about the current market, here’s an example of why to take Zillow market updates with a grain of salt. I looked into this after reading their May 9, 2011 report about the housing market a few days ago, which stated that… Continue Reading
Update on the 2011 Seattle Spring Housing Market
Here are some real estate market heat maps based on current supplies of inventory in King and Snohomish counties in April 2011. Red indicates a seller’s market (zero to three months of inventory available for sale), yellow indicates a balanced market (three to six months of inventory), and green (more than six months of inventory) is… Continue Reading
The 2011 Seattle Housing Market – Why the Case-Shiller Numbers Can Be Misleading
The Wall Street Journal ran a front page article today entitled “Why 2011 May Be the End of the Housing Crash.” They note that the Case-Shiller housing numbers that came out in January showing a drop in home sales in December might not have portrayed a realistic picture in terms of looking ahead. I told… Continue Reading
The Seattle Spring 2011 Housing Market Might Be Hotter than You Think It Is
I’m not into ‘spinning’ real estate trends to make them sound positive on this blog (or elsewhere); I can’t imagine looking someone in the eyes and telling them it’s a good time to buy or sell if I think it isn’t. And, I know as well as anyone else that the economy can swing around and… Continue Reading
Listing Your Seattle Area Home in 2011? Start Early (Especially This Year)
If you’re planning to list a home in the Seattle or Eastside areas in 2011, you may be surprised to learn that the best time is typically not the summer. (And, it’s not even necessarily May, which is the timing that many sellers shoot for.) This is completely understandable – everyone hears that May is the top month… Continue Reading