June MLS Report: Inventory Down, Pending Sales Up
Recent posts on Sweet Digs Seattle:
- Why Your Property Tax Value Increases While Your Market Value Declines
- Money, Patience, or a Reality Check
- To Thea, with Love: Three Capitol Hill Area Tudors
- Blaming it on the Burbs
- Please, Please Won’t You Buy Me?
- Farewell, My McMansion
- Seattle, Meet Beijing as She Primps for the Summer Olympics
Available inventory and pending sales are the Yin and Yang of a balanced housing market. In June we might just be a little closer to real estate Zen around Seattle as we see a dip in active listings and increase in pending sales. But anyone who thinks the downturn is on an upswing shouldn’t be so quick to judge.
The NWMLS reports that the “Housing Market Becoming More Balanced as Sales Climb to Highest Level in 10 Months”.
Before you get too excited, take a look at the year over year data for a little reality check for June 2008 Single Family Homes:
- Active Listings: up 25% YOY
- Pending Sales: down 27% YOY
- Median Closed Price: $449,700 – down 4.3% YOY
Seattle Bubble’s spreadsheet has more number crunching if you want to dig deeper.
This small upward blip in my opinion does not reflect a turn in the overall market just the seasonal increase for spring/summer.
