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: firstname.lastname@example.org