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.
November Residential Highlights
Southwest Washington saw its sole gain in new listings this November. At 728, new listings ended 13.6% warmer than last year in November 2017 when 641 new listings were offered despite being 13.6% cooler than the 843 new listings offered last month in October 2018.
Closed sales (601) cooled 12.9%from November 2017 when 690 closings were recorded, and cooled 11.6% from October 2018 when 680 closings occurred.
Pending sales (564) fared similarly, falling 14.2% short of November 2017 (657) and 17.8%short of October 2018 (686).
Total market time remained steady at 52 days in November.
Average and Median Sale Prices
Comparing the first elevenmonths of 2018 to the same in 2017,the average sale price has risen 8.3%from $362,500 to $392,600. In thesame comparison, the median saleprice has risen 9.2% from $325,000to $355,000.
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: