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.
April Residential Highlights
Southwest Washington saw gains nearly across the board this April, with new listings leading the way. There were 1,140 new listings, a 14.3% increase over the 997 offered last year in April 2018 and a 10.9% increase over the 1,028 offered last month in March 2019. In fact, it’s the strongest April for new listings in the area since 2008, when 1,222 were offered.
Pending sales (877) fared strongly as well, rising 7.5% from April 2018(816) and 3.7% from March 2019(846).
Closed sales (676) saw the sole decrease this month, down 2.0%from April 2018 when 690 closings were recorded. Even so, closings warmed 5.8% from March 2019 when 639 were recorded.
Inventory held steady in April at 2.4 months, with total market time decreasing to 58 days.
Average and Median Sale Prices
Comparing 2019 to 2018 through April, the average sale price has increased 3.7% from $382,500 to$396,500. In the same comparison, the median sale price has increased 3.3% from $348,000 to $359,500.
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: