Eastside & Seattle Market Absorption Rates
By: Tony Meier
Eastside & Seattle Realtor
This week we will be looking at the Residential market absorption rates for the Eastside over the last 7 weeks. When looking at these numbers, keep in this in mind:
1. These are an average of the all price ranges in the area. Some price ranges are definitely moving faster than others! If you would like to know how things break down in a specific price range for an area, send me an email at tony@eastsidehomes.com
2. These numbers are a result of the sales activity over the last 7 weeks when comparing the number of active listing vs. the number of pending sales to determine what the market absorption rate is for a particular area.
3. When measuring the heat of the market, the following rules apply:
a. 12 weeks or less = Seller’s Market
b. 12-24 weeks = Balanced Market
c. 24 or more weeks = Buyer’s Market
Another mixed bag this week, with only slight declines or improvements. It does appear that inventory is continuing to build, with most areas showing 40+ weeks of inventory now. We usually build inventory as we move toward summer and it looks like this year will be no different!
Residential Only, NWMLS Area 500 (Bellevue, South of I-90) = 42 weeks of inventory (was 41 four weeks ago)
Residential Only, NWMLS Area 510 (Mercer Island) = 42.5 weeks of inventory (was 32.7 four weeks ago)
Residential Only, NWMLS Area 520 (Bellevue, West of 405) = 56.4 weeks of inventory (was 57.4 four weeks ago)
Residential Only, NWMLS Area 530 (Bellevue, East of 405) = 29.2 weeks of inventory (was 26.7 four weeks ago)
Residential Only, NWMLS Area 540 (East of Lake Sammamish) = 34.5 weeks of inventory (was 32 four weeks ago)
Residential Only, NWMLS Area 550 (Redmond/Carnation) = 28 weeks of inventory (was 30.7 four weeks ago)
Residential Only, NWMLS Area 560 (Kirkland/Bridle Trails) = 46.9 weeks of inventory (was 63.5 four weeks ago)
Residential Only, NWMLS Area 600 (Juanita/Woodinville) = 42.7 weeks of inventory (was 39.9 four weeks ago)
If you have any questions on this information, I welcome you to email me at tony@eastsidehomes.com
Posted By:
Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@eastsidehomes.com
By: Tony Meier
Eastside & Seattle Realtor
1. These are an average of the all price ranges in the area. Some price ranges are definitely moving faster than others! If you would like to know how things break down in a specific price range for an area, send me an email at tony@eastsidehomes.com
2. These numbers are a result of the sales activity over the last 7 weeks when comparing the number of active listing vs. the number of pending sales to determine what the market absorption rate is for a particular area.
3. When measuring the heat of the market, the following rules apply:
a. 12 weeks or less = Seller’s Market
b. 12-24 weeks = Balanced Market
c. 24 or more weeks = Buyer’s Market
Area 710 remains the bright spot on this chart with lots of movement in the under 300k range. Area 140 is off across the board and has 110 weeks of inventory in the 300-399k range. Should be some opportunities there!
Condo Only, NWMLS Area 140 (West Seattle) = 43.1 weeks of inventory (was 28.2 four weeks ago)
Condo Only, NWMLS Area 380 (Central Seattle) = 25.4 weeks of inventory (was 23.2 four weeks ago)
Condo Only, NWMLS Area 385 (SODO/Beacon Hill) = 22 weeks of inventory (was 29.5 four weeks ago)
Condo Only, NWMLS Area 390 (Central Seattle) = 29.8 weeks of inventory (was 33.5 four weeks ago)
Condo Only, NWMLS Area 700 (Queen Anne/Magnolia) = 39.4 weeks of inventory (was 30.3 four weeks ago)
Condo Only, NWMLS Area 701 (Belltown, Downtown) = 36.6 weeks of inventory (was 31.2 four weeks ago)
Condo Only, NWMLS Area 705 (Ballard/Greenlake) = 28.6 weeks of inventory (was 32.4 four weeks ago)
Condo Only, NWMLS Area 710 (North Seattle) = 16.4 weeks of inventory (was 17.9 four weeks ago)
Condo Only, NWMLS Area 715 (Richmond Beach) = 30.1 weeks of inventory (was 25.8 four weeks ago)
Condo Only, NWMLS Area 720 (Lake Forest Park) = 40.4 weeks of inventory (was 34.8 four weeks ago)
If you have any questions on this information, I welcome you to email me at tony@eastsidehomes.com
Posted By:
Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@eastsidehomes.com
The following is a list of 2008 Summer Events & Activities happening in Seattle and throughout the Eastside. I hope you can get out and enjoy the summer ahead!
June
7-8 Tastin’ n Racin’ - Issaquah, Lk. Samm. Park
15 Father’s Day Car Show - Bothell
www.countryvillagebothell.com /425.483.2250
21-22 Fremont Fair - Seattle
29 Seattle Pride Festival
www.seattlecenter.com / 206.684.7200
29 Seafair Marathon - Seattle, Kirkland, Bellevue
29 Midsommarfest - Kenmore, St. Edward Park
29-8/17 Seafair - various locations in Puget Sound
July
4 Fourth of July events throughout the Puget Sound
Check with your local chamber of commerce
4-6 Lake Union Wooden Boat Festival - Seattle
www.cwb.org / 206.382.2628
5 Milk Carton Derby - Greenlake, Seattle
www.seafair.com / 206.728.0123
7-8/1 Summer Festival - Lakeside School, Seattle
www.seattlechambermusic.org / 206.283.8710
12 Redmond Derby Days
www.ci.redmond.wa.us / 425.556.2900
12 Wallingford Street Fair & Parade
www.wallingford.org / 206.632.3165
12-13 Vashon Island Strawberry Festival
http://vashonchamber.com / 206.463.6217
12-13 Seattle’s International District Summer Festival
www.cidbia.org / 206.382.1197
12-13 Mercer Island Summer Celebration
www.misummercelebration.com / 206.236.3653
18-20 Bite of Seattle - Seattle Center
www.biteofseattle.com / 425.283.5050
19 Roosevelt Bull Moose Festival - Seattle
www.bullmoosefestival.org / 206.985.8674
19 West Seattle Hi-Yu Parade
www.hiyu.com / 206.935.9407
19-20 White Center Jubilee Days - Seattle
www.jubileedays.org / 206.947.3885
20 Triathlon at Seafair - Seward Park, Seattle
23 Greenwood Parade - Seattle
www.greenwood-phinney.com / 206.782.6532
23-27 IKEA Renton River Days
www.rentonwa.gov / 425.430.6528
25-27 Bellevue Arts Festival - downtown Bellevue
www.bellevuefest.org / 206.363.2048
26 Torchlight Run & Parade - downtown Seattle
26-27 Ballard SeafoodFest - Seattle
www.seafoodfest.org / 206.784.9705
August
1-2 Magnolia Summer Festival & Art Show - Seattle
www.magnoliachamber.org / 206.284.5836
1-3 Chevrolet Cup at Seafair - Lake Washington
1-3 Air Show at Seafair - Lake Washington
6-15 Summer Festival - Overlake School, Redmond
www.seattlechambermusic.org / 206.283.8710
10-12 Seattle Music Fest - Alki Beach
www.northwestarts.org / 206.632.4545
16-17 Central Area Community Festival - Seattle
www.cacf.com / 206.999.3482
23 Monroe Fair Days Parade
360.794.5488
30-9/1 Bumbershoot - Seattle Center
www.bumbershoot.org / 206.281.7788
Posted By:
Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@eastsidehomes.com
My usual statistics are unavailable this week, so we are going to look at something different. As in the past... I will use the great information from Trendgraphix. We are going to chart the Seattle Metro Residential market since February 2007. Here is the trend for homes over the last year.
This first chart shows how the inventory has climbed steadily since last year and sales have fallen. We had as much as 35% of the inventory selling in March of 2007. April 2008 only has 16% of the inventory going pending.
This next chart shows the average list price per month and the average sales price. The average is clearly trending down, which is the result of the supply vs. demand imbalance. Also, the difference in these numbers of nearly 150k would indicate that the lower end of the market is where the majority of sales are.
This last chart shows months of supply based upon the pending sales. We have gone from a hot sellers market to one that is more balanced and trending towards a buyer favored market.
If you have any questions on this information, I welcome you to comment or email me at: tony@eastsidehomes.com
Posted By:
Tony Meier
Eastside & Seattle Realtor
425-466-1000
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@eastsidehomes.com
Eastside & Seattle Market Absorption Rates
By: Tony Meier
Eastside & Seattle Realtor
This week's update is coming to you on Tuesday, due to the Memorial Day holiday. I was busy playing with my kids! :-)
This week we will be looking at the Condo market absorption rates for the Eastside over the last 7 weeks. When looking at these numbers, keep this in mind:
•1. These are an average of the all price ranges in the area. Some price ranges are definitely moving faster than others! If you would like to know how things break down in a specific price range for an area, send me an email at tony@eastsidehomes.com
•2. These numbers are a result of the sales activity over the last 7 weeks when comparing the number of active listing vs. the number of pending sales to determine what the market absorption rate is for a particular area.
•3. When measuring the heat of the market, the following rules apply:
•a. 12 weeks or less = Seller's Market
•b. 12-24 weeks = Balanced Market
•c. 24 or more weeks = Buyer's Market
Condo Only, NWMLS Area 500 (Bellevue, South of I-90) = 27.2 weeks of inventory
Condo Only, NWMLS Area 510 (Mercer Island) = 21.7 weeks of inventory
Condo Only, NWMLS Area 520 (Bellevue, West of 405) = 30.9 weeks of inventory
Condo Only, NWMLS Area 530 (Bellevue, East of 405) = 28.3 weeks of inventory
Condo Only, NWMLS Area 540 (East of Lake Sammamish) = 33.7 weeks of inventory
Condo Only, NWMLS Area 550 (Redmond/Carnation) = 22.9 weeks of inventory
Condo Only, NWMLS Area 560 (Kirkland/Bridle Trails) = 30 weeks of inventory
Condo Only, NWMLS Area 600 (Juanita/Woodinville) = 36.9 weeks of inventory
If you have any questions on this information, I welcome you to email me at tony@eastsidehomes.com
Posted By:
Tony Meier
Eastside & Seattle Realtor
425-466-1000
EastsideHomesBlog.com
EastsideHomes.com
Seattle's Eastside Real Estate Resource
tony@eastsidehomes.com
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