Wednesday, May 21, 2014

King County Real Estate Market: The Sweet and Sour with Hot Sauce


Today we will look at 3 fundamentals in the King County real estate market.  We will cover the "Sweet Spot" first.  This is sales volume.  Sales volume has hit a sweet spot, meaning we are near average norms in terms of the number of home selling each month.  Looking back 15 years, we can see that during typical selling seasons, between 1,500 - 2,000 homes sell each month.  We can also see during the "bubble" years sales were artifically high and during the "bubble burst" sales volumes were unusually low.

The chart below shows us we've been in the "sweet spot" for sales volume for the last 2 years.


Today's lack of available homes for sale is the "Sour Spot".  King County home prices are rising rapidly due to supply and demand.  Lack of supply and strong demand.  We did see an increase of homes for sale in April, but not enough to bring us into a healthy level of inventory.  We really need to have another 1,000 homes come on the market to meet demand and cool down rising prices.


Prices are rising rapidly.  Buyers are losing out on multiple offers.  We are seeing homes being bid up $10,000 - $100,000 over asking price!

King County average home prices are up 42% since they bottomed out February 2012, just two short years ago! The average home price then was $376,716, today it is up to $535,438.  Average days on the market has also dropped nearly 50% from 84 days to 44 days.

At this point making any predictions for the housing market is setting yourself up.  But we can say what we need to see happen... more inventory!  We did see a net rise of 283 listings for April, lets hope the trend continues!


David  aarons said...

Nice article, Which you have shared here about the Real Estate Market. Your article is very informative and useful for those who are interested to know more about the current status of Real Estate Markets. If anyone looking for the homes for sale in St. Albert, Visit Edmontonhomesforsale

palm springs said...

Thanks for sharing this article here about the Real Estate Market. Your article is very informative and I liked your way to share this wonderful information here. If anyone looking to buy Sections Papamoa, Visit palmsprings

HomeMegaManagement said...

Analysis of the real estate is helpful for the investors and those who are thinking of getting home. Get the homes for sale in howard beach queens from Home-Mega which is the leading platform to get home for sale.

Epaphroditus said...

Amazing article, Which you have shared about the Real Estate. This article is very interesting and I liked to read it. If anyone wants to do Property Valuation UAE, then visit at

Laura Bush said...

Great job for publishing such a good article. I appreciate for sharing such information and I also hire some offices for meeting in London. thanks for sharing valuable information. Meeting Rooms Hire

vancouverrealestateonline said...

I really appreciate this wonderful post that you have provided for us. I assure this would be beneficial for most of the people. Explore all Coal Harbour condos, townhouses and properties for sale online at Visit on coal harbour condos for sale

Worth Realty Team said...

I am appreciate you efforts which you put in this blog. Good to know about the real estate market values. Get the best real estate agents who help you to buy a beautiful house in your budget. Go through McKinney real estate agents to know more.

Get Appraisal said...

Your blog have very good information regarding the real estate valuation, I also have some worth information regarding the home valuation, I think this info will be very helpful for you. home valuation website Australia

Dream Estate Hua Hin said...

It was really a nice experience to be on your blog. is offering you the best and budget-friendly listing of houses in Hua Hin on rental. Visit us on rental home search hua hin