The Blog ofWashington First

Washington July Market Activity

Below is an excerpt from the Regional Multiple Listing Service’s most recent “Market Action” report that comes out monthly and is e-mailed to all member Realtors. This is data specific to the Southwest Washington Area market.

July Residential Highlights  

July Residential Highlights Southwest Washington again saw some mixed activity in July, but all measures continue to be ahead compared with the same period in 2017. Closed sales, at 789, ended 2.2% ahead of last year in July 2017 (772), but fell 0.9% short of the 796 closings recorded last month in June 2018.

New listings fared similarly, increasing 4.2% over July 2017 (1,101) but showing a 6.9% decrease from the 1,232 new listings offered last month in June 2018.

Pending sales, at 829 in July, fell 4.8% short of July 2017 (871) and 6.9% short of June 2018 (890).

Inventory rose slightly to 2.3 months in July, with total market time holding steady at 38 days.

Average and Median Sale Prices

Comparing the first seven months of 2018 to the same in 2017, the average sale price has risen 9.8% from $355,700 to $390,700. In the same comparison, the median sale price has risen 9.4% from $322,000 to $352,400.

Below is a table with data from the RMLS. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market: