What's Happening with the Seattle Real Estate Market?

Every week I have been tracking the sales stats for King County and visiting the Broker's Opens in Bellevue, to get a handle on where this market is going.

Last night, and every Sundy night, I posted the King County stats. Number of properties sold for the last three months ended January 31st compared to previous years is down about 30%.

Zero down mortgages are 20% or so of sales vs. 40% or so in prior years. 5% down mortgages picked up from almost none to 15% or so. That's based on a small market evaluation. I can't hand count the whole county.

These graphs say a lot.

I'm hoping to do a review of the Broker's Opens by the end of this weekend. We've picked the ones that should sell, which were few among the many. Now we're tracking the number of days it takes for ANY of them to go into escrow.