King Snohomish County Months Supply Area Map May 2009

King Snohomish County Months Supply Area Map-May 2008

Here’s what these maps show:

Each NWMLS (Northwest Multiple Listing Service) real estate area in the two counties  is shown on the maps. For example, if you look at the eastside, you’ll see an area labeled 530, which is East Bellevue and parts of Redmond,  and 560, which is Kirkland.

Every area of the NWMLS is then evaluated by looking at the number of homes for sale and the number of homes that sell each month in that area. If there’s an overabundance of homes for sale compared to the number of homes selling, then it’s a buyers’ market.  If there are a reasonable number of homes selling each month compared to the number of homes on the market, then it’s a balanced market between buyer and seller.  Lastly, if the number of homes is selling well compared to how many are for sale, then it’s a sellers’ market.

• Green represents a buyers’ market.
• Yellow represents a balanced market between buyer and seller.
• Red represents a sellers’ market.

Along the sides of the maps, each real estate area is listed with the number of months it would take to sell all the homes currently for sale in the area. Let’s look at area 530 again.  In area 530, if no other home comes on the market, it would take about 4.4 months for the homes to sell.  In Kirkland, area 560, if no other home comes on the market, it would take 8.1 months to sell the homes for sale.  East Bellevue and Redmond near Microsoft are color coded in yellow.  With 4.4 months of inventory, it has a more balanced market.  Kirkland is colored green.  It’s a buyer’s market because it would take 8.1 months to sell the homes on the market.

Looking at 2009′s map, it’s clear how much the Seattle area real estate market has changed to a more balanced market.  Most King and Snohomish county real estate areas are colored yellow, showing a balance between buyers and sellers.

May of 2008 was very definitely a buyers’ market and a buyers’ market only. In May of 2008, green for a buyers’ market was the predominant color on the map.  In May of 2009, yellow is the dominant color, representing a more balanced real estate market.