October 2020 Housing Market Update (NWMLS Press Release)

September’s home sales reached highest level since June 2018

Here are the bullet points from the newest press release from the Northwest Multiple Listing Service, which provides housing market data for most of Western Washington.

  • September’s closings marked a jump of nearly 28% from the same month a year ago
  • inventory is down 43% from a year ago
  • pending sales are up 23% from a year ago
  • prices for single family homes and condos combined are up 19% from a year ago
  • it’s too soon to make any predictions about how Boeing’s announcement to move 787 production to South Carolina away from Everett will affect the Snohomish County housing market
  • supply continues to be inadequate to meet demand
  • in King County, the median sale price for single family homes was $754,600 (median means half sold for more, half sold for less)

To read the full press release, click here.

Posted on October 9, 2020 at 10:45 am
Evan Richards | Category: Education, Market Update, NWMLS Press Release | Tagged , , , ,