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.
October Residential Highlights
Southwest Washington had mixed numbers this October, with gains relatively moderate.
New listings, at 843, pushed 0.6% ahead of the 838 new listings offered in October 2017 but fell 11.4% short of the 951 new listings offered last month in September 2018.
Closed sales (680) ended 6.3% cooler than in October 2017 (726) but saw a 0.4% increase over the 677 closings recorded last month in September 2018.Pending sales, at 686, ended 9.7% cooler than the 760 offers accepted last year in October 2017 and 0.4% cooler than the 689 offers accepted last month in September 2018.
Inventory in October decreased slightly to 2.7 months.
Average and Median Sale Prices
Comparing the first ten months of 2018 to the same in 2017, the average sale price has risen 8.6%from $362,000 to $393,200. In the same comparison, the median sale price has risen 9.4% from $325,000 to $355,400.
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: