Josh Sanders, Founder of Shiloh Street
I’m not a huge “housing stats” guy when it comes to market conditions, even in the local Seattle real estate market. What I mean is that I don’t track the “technicals” of the market like a day trader and I don’t think you should either. It’ll drive you nuts! 
Yes, it’s absolutely a fine idea to know where the market is going, understand if it’s a buyer’s or seller’s market and plan your real estate ventures accordingly. Just don’t go overboard thinking you can “beat the market” if you study enough statistical data, like some buyers I’ve come across over the years.
The real estate market is just like the stock market; you can never time it perfectly!
With that said, the “super exciting” (yes, I’m being sarcastic) Puget Sound area housing market news from the Northwest Multiple Listing Service (NWMLS) is that we’re just about where everyone expected us to be.
Some areas in Western Washington are up, some are down. Sales are up from last year at this time but pending sales are down. Nothing too thrilling EXCEPT maybe the fact that we had some price increases in a few counties.
Here are the keys points from the June, 2010 housing stats report….
- Pending sales of single family homes and condominiums (combined) fell 28 percent from a year ago, but rose 5.8 percent from May.
- Year-to-date (through June), pending sales are up 12.4 percent compared to midyear 2009.
- Closed sales for June out gained the same month a year ago by 617 transactions (up 12 percent), and rose 8.9 percent from May’s total.
- The median price for last month’s completed transactions is down about 7 percent from twelve months ago.
- Four counties (Cowlitz, Grays Harbor, Lewis and Pacific) reported price increases from a year ago, while eight other counties had declines of less than 5 percent.
Now if you’re one of the hyper-analytical real estate enthusiasts out there, you just got your fix for the day.
If you’re more like me, those numbers give you a good snapshot on what’s going on but you’re probably ready to get back to life and taking action.
So my takeaway from these stats is that if you’re a buyer, the ball is in your court. The deals are out there so hunt them down and pounce when you’ve found the perfect one.
If you’re a seller, obviously it’s not the easiest of times to sell but it’s still possible. Price your home right from day 1 and make sure you have “The 3 P’s of Selling” down cold. They’ll save you a boat-load of time and cash!
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