The NWMLS press release is available to view here.

The news is mostly positive for June. Here are a few highlights:

• Half the counties showed an increase in inventory year-over-year, with King County leading the way at 32%.
• Prices climb a bit (up 4.82% NWMLS system-wide from a year ago).
• Overall, the report indicates there is 1.76 months of inventory area-wide (matching May), with eight counties having less than two months of supply.
• Just so you saw it, there is 1.76 months of inventory. One. Point. Seven-Six. Months!
• Hidden in the release was this tidbit: “The new tax measure changes the REET rate from a flat 1.28 percent of the selling price to a graduated rate for real property sales, with exceptions for timberland and agricultural land. This will impact sales velocity and absorption at the higher price points.” MORE ON THIS IN FUTURE BLASTS!

So what’s it all about, Alfie?  The market is micro-location driven right now. We’re talking right down to individual streets in some places. Price sharply. Razor sharp. And, build the right stuff, too.

This analysis from Zillow caught my eye a few weeks back. It’s about the correlation between some specific marketing terms used in listings, and higher selling prices / shorter time on market.

These features alone probably aren’t the magic bullet, but it’s clear from this chart the details matter to buyers. And, builders who have an eye for the right ones are benefitting.

Most importantly, if you’re selling a home with any of these features, you had better make sure you bring them up!