Market Update

The median price for single family homes and condos in King County jumped nearly $40,000 from January to February according to the latest NWMLS Market Update.

In Seattle, the median single family home price was up from $711,000 in January to $730,000 in February. However, Seattle median condo price in February was $444,000, down from $535,000 in February 2018. This year there were 135 closed sales compared to 158 in 2018.

Meanwhile, on the Eastside the median single family home price fell to $900,000, down from $910,000 in January and $950,000 a year ago. The median Eastside condo price is also down 2.6 percent from a year ago to $445,000.

As for inventory, the NWMLS’ 23-county market area’s inventory remains below the 4-to-6 month gauge of a balanced market. In February, inventory decreased to 2.19 months after recording 2.4 months in January.

King County’s inventory was also slightly down from January (2.34 months) to 2.09 months in February. In Seattle, inventory recorded just below two months at 1.99. The other Puget Sound region counties were below two months: Snohomish County, 1.63 months; Pierce County, 1.65 months; and Kitsap County 1.93 months.

NWMLS Monthly Market Snapshot
NWMLS February 2019 Market Update Snapshot

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