Zero Lotline Townhome Sales Stats

 

 

BUILT 2007+            
Area Active Pending Sold 3/1/09 to 5/20/2009 #/day #/month #months supply
140  West Seattle 77 15 33 0.41 12.38 6.22
380385  Rainier Valley 40 14 16 0.20 6.00 6.67
390  Madison Park to I-90 43 16 24 0.30 9.00 4.78
700 Cap Hill, Queen Anne, Magnolia 46 9 14 0.18 5.25 8.76
 705  Northwest Seattle (Ballard, Greenwood) 97 42 62 0.78 23.25 4.17
710  Northeast Seattle (Ravenna, Lake City) 25 12 19 0.24 7.13 3.51
  328 108 168 2.10 63.00 5.21

As predicted, inventory is SHRINKING!  Lots of sales and lots of pendings in this property category.    Supply in north Seattle is down to about four months, which most folks say is a “heathly balance.”   Caveat — the “Active” numbers may not include sites where the builder has one or two units out of four or six available.  But those sales of unlisted units won’t show up in my stats, which I pulled from our NWMLS database.

Has to make the construction lenders — Sterling Savings, Citybank, Evergreen Bank, and their ilk — very pleased. 

I think May and June closed sales will even higher, until inventory is totally gone.  And you know what happens when supply goes down and demand stays constant…

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