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.
June Residential Highlights
June brought some cooler numbers to Southwest Washington, with closed sales eking out the sole gain. There were 796 closings, exactly matching June 2018 but outpacing May 2019 by one closed sale (0.1%).
Pending sales, at 881, fell 1.0% short of June 2018 (890) and 2.5% from May 2019 (904).
New listings, at 1,102, decreased 10.6% from the 1,232 new listings offered last year in June 2018 and 13.4% from the 1,272 offered last month in May 2019.
Total market time decreased by one day in June to end at 48 days. During the same period, inventory rose slightly to 2.4 months.
Average and Median Sale Prices
Comparing 2019 to 2018 through June, the average sale price has increased 3.5% from $387,300 to$400,900. In the same comparison, the median sale price has increased 4.0% from $351,000 to $365,000.
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: