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Sep 01

Puget Sound home prices and sales July 2013

Increased-Cost Home sales, prices still rising in Western Washington despite lean inventory and increasing mortgage rates

Despite improving inventory overall, supplies remained low, particularly around job centers. Area-wide there is about 2.6 months of supply, which indicates a seller’s market. (In a normal market, a healthy supply level favoring neither buyers nor sellers is around 6 months, according to industry analysts.)

Three counties have less than three months of supply. At the current pace of sales in King County, it would take just 1.5 months to sell the current supply. In Snohomish there is only 1.6 months of supply and in Thurston County the existing supply would be exhausted in about 2.9 months. Kitsap County where there is 3.3 months of supply

Condo prices up 13.2%

Buyers searching for single family homes may have an easier time than those seeking condominiums.

Northwest MLS figures show the inventory for single family homes is down 4.6 percent from a year ago, while the selection of condo listings has declined about 13.2 percent. Prices on single family homes that closed during July were up about 9.9 percent from a year ago. Condo prices jumped more than 16.8 percent.

Puget Sount Home Sales by County

KING COUNTY  Jul 13 King

SNOHOMISH COUNTY  Jul 13 Sno

PIERCE COUNTY  Jul 13 Pierce

 

 

 

 

 

 

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