Nine days. That's how long half of all new listings go off the market in Seattle right now according to Redfin's June numbers. That's second among major cities only to Denver (six days). The 1.8 months of housing supply in June is also the lowest point ever. Woof.
Their numbers also say the Seattle median home price in June was up 3.8 percent from the previous month to $415,000. That's also up 7.7 percent year-over-year. PSBJ notes that NWMLS said earlier this week that the median price for a Seattle single-family home was $575,000.
Meanwhile it looks like those reports of people flocking to Tacoma are true as the City of Destiny saw one of the biggest decreases in housing inventory (2.3 months-worth of supply). Tacoma's inventory is now down 24.5 percent year-over-year, which is slowly catching up with Seattle (down 27.5 percent). Tacoma median home sale price ($254,500) is still way less, however, while the number of homes sold is 23.9 percent higher than the previous year.
· June Housing Market Sets All-Time Records for High Speed and Low Supply [Redfin]
· Selling Seattle: Half of Seattle homes sell in 9 days or less [PSBJ]