Not a huge movement, but fewer condos for sale, meaning they are selling a bit faster than they are coming on market, for a change. Fewer in escrow than last week, but that’s normal for the last week in the month as more escrows close out in that week. Won’t be doing true month end stats until next week, as there will be end of month closings posting during this week.
King County Condos
Active Listings: 3,911 DOWN 42 – median price $324,999 – MPPSF $320 – DOM 59
In Escrow: 944 – DOWN 28 – median price $299,925 – MPPSF $300 – DOM 51
Sold YTD : 2141 – UP 127- median list price $289,950 – median sold price $285,000 – median PPSF $290 – DOM 47
I did a quick check on May closings. While all are not posted, May sales prices were up both as to median price and MPPSF at $290,000 and $293. Likely won’t take the YTD numbers up much, but one would expect “high season” sales to be a bit more as to price than 1st quarter sales…and they are. I’m putting one on at $273 per square foot in Issaquah this week, hoping for shorter days on market than the King County median of 47.
King County Residential
Single family homes are not selling at a higher rate than they are coming on market as the condos are. I would expect to see that change in June and July. The number in escrow is down, but again that is because more move from in escrow to closed in the last week of a month, than in other weeks.
In Escrow: 2,879 – DOWN 54 – median asking price $448,950 – DOM 45 – MPPSF $212
SOLD YTD: 6,547 – UP 380 – median sold price $440,000 – DOM 50 – MPPSF $221
May sale prices are up at $447,000, but no change for MPPSF
I do the Actives last for Residential, as I can’t run stats when volume is over 10,000 units
Actively for sale 11,612- UP 33 – MPPSF <$800,000 is $220 – MPPSF >$800,000 is $339
If distressed properties start selling more and more outside of the mls and less and less via the mls, we will have to check these numbers against the tax record data. In fact it will be a good idea at the end of June to compare the first two quarters mls figures with County Stats.
I’m still seeing multiple offers on the best properties. People expecting the best properties in the best areas to sell at bargain prices are disappointed. It’s not that kind of buyer’s market. It’s not really a buyer’s market at all…it’s just not a seller’s market. Distressed properties ARE a bargain, but not the best homes in the best areas. The date for that to change is usually around October 15th.
Stats not compiled or published by NWMLS. (Required disclosure)