South Sound Inventory Up, Prices Down
KOMO News and The Olympian must not have gotten November's numbers last night like everyone else. Well, they've got them in hand now, so here for your reading pleasure (or frustration) are a couple more takes on November's numbers, including a specific look at the South Sound, where prices were particularly stagnant:
The holiday season, colder weather and rising interest rates combined to cool South Sound's hot real estate market slightly in November, Realtors said.People (realtors anyway) always say "they're not making any more land." Apparently in the South Sound, they are. I jest, but hey, if the realtors can oversimplify things, so can I.
Sales for the month were down 4 percent compared with last year and, for the second time this year, the median monthly sales price dropped from the month before.
...
As demand dropped with the temperatures, a positive result for potential buyers was the year's largest inventory of homes for sale last month. The inventory was 1,095 homes, up from 827 the same time last year.
(KOMO News, 12.06.2005)
(Jim Szymanski, The Olympian, 12.06.2005)
2 comments:
Hey Seattle,
how much speculation do you think there is in your market? Are Californians coming north to buy and live, or to buy and rent out/speculate?
I ask because I haven't heard much about speculation in Seattle - just more about incoming new residents from cali.
I agree w/ Biliruben. We Washingtonians have a neurotic impulse to blame Californians for everything. And a very hard time taking responsibilty for what we ourselves create.
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