These two graphs provide interesting information about homes sales in King County and Whatcom County. The top graph is for King County. The bottom graph is for Whatcom County. One very dramatic difference between the two graphs is pending sales in March. Notice the percentage of pending sales in March compared to the number of homes for sale in King County--29%. The same comparison in Whatcom County is 14%. Nearly half!

 

This increase in sales in King County has another effect--there are fewer homes for sale in King County because more homes are selling. In King County, the number of homes for sale in March of this year is much less than the number of homes for sale a year ago. This creates a seller's market which should lead to an increase in prices. In comparison, in Whatcom County, there are considerably more homes for sale this March than there were one year ago.

 

As I've said in previous entries, Bellingham typically lags about 3 months behind Seattle. Therefore, what's happening in King County should be happening here soon. Is it our turn?