King County Affordability Index

So… what the heck is going on with the Seattle housing market?

Since we’ve been gone for so long, I thought I’d start back up with somewhat of an overview post. Let’s just take a look at what’s going on in the Seattle-area (King County) housing market recently.

One of the biggest topics on everybody’s mind lately is home prices, so let’s start there…

Around the Sound: Still a dismal market for buyers everywhere

Let’s take a look at our stats for the local regions outside of the King/Snohomish core. Here’s your October update to our “Around the Sound” statistics for Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties…

NWMLS: Pending sales hit an all-time high in August

August market stats were published by the NWMLS on Friday before the holiday weekend. The King County median price of single-family homes rose over 10 percent year-over-year for the first time since May of 2018. Inventory is way down from a year ago, and pending sales climbed to an all-time record high

The pandemic has sparked a massive seller’s market and big price spikes around Seattle

Okay, let’s get back to the data. It’s about time. Okay, it’s way past time. Anyway, whatever. Here’s some data. Since it’s been a while, let’s start with a few high-level stats from around the Puget Sound…

NWMLS: New listings dry up as home prices plateau

The NWMLS published their August stats yesterday, so let’s take a look at how the month shook out for the housing market.

As we mentioned in yesterday’s preview post, the biggest story is a sudden, renewed shortage of inventory.

Before we get into our detailed monthly stats, here’s a quick look at their press release…

Around the Sound: King County alone in price drops and big inventory gains

I promised an updated look at June data for the outlying counties, so let’s have a look at that. Here’s the latest update to our “Around the Sound” statistics for King, Snohomish, Pierce, Kitsap, Thurston, Island, Skagit, and Whatcom counties.

King County is the only place where prices are declining, and it also has the largest increase in active listings compared to a year ago. On the flip side, pending sales were up the most in King County, and it had one of the smallest declines in closed sales (sales rose in Skagit though). In most of the other Puget Sound counties, sales are declining, and listings are either falling or not increasing by much, and prices are rising.