"A marked cooling throughout Western WA"
The NWMLS "recap" sheet for September has been posted, for those of you that prefer the summary version of the monthly statistics. And if it's the day of the recap sheet, that means it's the day of the Seattle Times' "blurb" article. Amazingly, Elizabeth Rhodes finally acknowledges that the Seattle market is slowing, even using the phrase "definite slowdown" in the headline:
Latest home-sales numbers show definite slowdownI'm actually quite interested to see what she has in store for tomorrow's "angle" article.
Newly released September home-sales numbers show a marked cooling throughout Western Washington.
Median prices for completed sales of detached houses and condominiums were up 9.4 percent throughout the 17-county region — the first single-digit increase in 24 months, according to the Northwest Multiple Listing Service.
...
September's pending sales, which reflect transactions signed but not sealed, dipped sharply throughout the region, while the number of properties for sale climbed significantly.
...
Agents report that sales activity within Seattle has eased but remains strong in some areas.
(Elizabeth Rhodes, Seattle Times, 10.07.2006)
4 comments:
Lizzie is admitting the market is slowing, I believe this is the sign of the apocolypse!!!
All I can say is I can't wait for 2007, there will be some serious "I told you so" going on at my office!
Here are some interesting data points.
- Inventory in the Seattle-Tacoma area seems to have increased by 40% in the past 5 months. Check out http://www.housingtracker.net/askingprices/metro/Washington/Seattle-Tacoma-Bellevue/
- Approximately 30-40% of the eastside homes that are actively listed on MLS have seen one/more price drops. You can use www.ZipRealty.com to check out the history of a listing (# of days on the market, log of any price drops, etc); you can also use this site to narrow down on the area you are interested & see how many active-listings have seen a price drop.
Seattle Eric is taking it in the shorts
Did you notice that he just now disabled commenting on his blog? Interesting.
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