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July Housing Update

Seattle house generic shutterstock purchasePrices are still rising in the Puget Sound region, but we’re finally seeing more homes and condos come on the market, prompting hope that we’re headed back to more balanced market conditions.

A summary report from the Northwest Multiple Listing Service showed active listings last month were at their highest level since September, 2015. In fact, improving inventory pushed sales in July to the point that we recorded the best July in the history of the Puget Sound real estate market.

King, Snohomish and Pierce counties all still have less than two months of inventory, with double-digit increases in prices compared to last year, prompting some buyers to expand their search to outlying areas.

A comparison of prices by counties showed San Juan County topping the chart, with an increase of nearly 21 percent from a year ago. In contrast, King County’s median sales price was up 15 percent from twelve months ago.

For more in-depth information, read the full article here.

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