The instability in the housing market finally has made area 705 owners squeamish enough to stay put. Look at that end-of-summer dive in the number of single-family homes put on the market in August: Down 12 to 15 percent from late-spring/early-summer figures.
The condo figures continue to rise, though, which I attribute to newly built units put on the market. After all, a development company doesn’t have the option of living in the place (employee housing perk, anyone?).
| New Listings | August 07 | 1 month ago | change | 4 months ago | change | Year ago | change |
| All | 367 | 395 | -7.63% | 376 | -2.45% | 316 | 16.14% |
| Houses | 241 | 276 | -14.52% | 271 | -12.45% | 254 | -5.39% |
| Condos | 126 | 119 | 5.88% | 105 | 20.00% | 62 | 100.32% |
Fewer properties new to the market will help chip away at the still-rising backlog of active listings in area 705. But a decrease in supply is going to keep upward pressure on prices. It’s not so clear cut that the buyer’s market folks are talking about is here.
| Active Listings | August 07 | 1 month ago | change | 4 months ago | change | Year ago | change |
| All | 691 | 650 | 6.31% | 519 | 33.14% | 461 | 49.89% |
| Houses | 434 | 411 | 5.60% | 335 | 13.13% | 345 | 25.80% |
| Condos | 257 | 239 | 7.53% | 184 | 39.67% | 116 | 121.55% |
You’ll find Northwest Multiple Listing Service numbers here. Click on the link to King County Breakouts to see area 705 specifics. My post last month on area 705 inventory is here.
Note: All information from sources deemed reliable but not guaranteed.