Seattle Eastside Real Estate Stats for Feb 2012

Seattle Eastside Real Estate Stats for Feb 2012

Have you been hearing that we’ve hit the bottom of that proverbial real estate market for the Seattle area…well, it does appear so.  I like to let the stats do the talking, but here are a few of the major highlights:

  • Lowest inventory levels since early 2007
  • 2.3 months’s supply of inventory (if no new inventory, it would take 2.3 months to sell all active listings at the sales pace we are experiencing)
  • Active residential listings are down 29% from a year ago
  • Pending residential sales are up 16% from one year ago
  • Closed residential transactions are up 8% from a year ago
  • Median closed sales price is down 2% from a year ago for the Eastside & Seattle; King County is down 8%.
  • The closer to the job centers of Bellevue & Seattle are proving better for the real estate market.

The Seattle area and especially the Eastside have moved into the Seller’s Market…0-3 months of inventory!!  We haven’t seen this much RED in I don’t know when!!

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