Seattle’s 2015 Housing Market Needs Inventory

Filed in How's the Market by on September 24, 2015 0 Comments

Here’s a graph of the summer 2015 Seattle market trends that shows how severe the low housing inventory situation is right now in Seattle.

September 2015 Seattle housing market graph

Single family homes in the Metro Seattle area.

It’s unusual to see the dark green column (‘Sold’ homes) surpass the light green columns (‘For Sale’ homes). Comparing the June through August 2015 quarter to the same quarter in 2014, the number of single family homes for sale in Seattle is down 36.8%.  Not surprisingly, the median sales price for those two quarters is up 13.0%, from $492,000 in 2014 to $556,000 in 2015.

The graph below shows the percent of Sales Price (SP) to Original List Price (LP) and the Cumulative Days on Market (CDOM), which includes re-lists within 90 days. When the SP to LP ratio goes over 100% that is typically a sign that multiple offers and price escalations have become common.

September 2015 Seattle home price trends

Single family homes in the Metro Seattle area.

Things appear to be easing up a bit now in September, looking at the ‘Today Stats’ on the right side of the chart, with inventory up 9.9% through the third week of September, compared to pending sales rising just 2%.  Uncertainty about foreign stock markets and a possible U.S. government shutdown are likely to have some kind of effect on home buyer demand, but so far there’s still plenty of activity out there.

Click here to read or download the 6-page Seattle Housing Trends Report containing the graphs above as well as more information about the 2015 Seattle housing market.

Tags: ,

About the Author ()

Irene Nash has been representing Seattle and Eastside home sellers and buyers in real estate since 1999. She and her husband Mike specialize in straightforward communication and providing top-notch staging and photography for every home listing.

Leave a Reply

Your email address will not be published. Required fields are marked *