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
Southwest Washington had sunny numbers across the board this July. Pending sales (924) rose 11.5% compared with July 2018 when 829 offers were accepted and 4.9% compared with last month in June 2019 when 881 offers were accepted. It was the strongest July for pendings since 2005, when 976 accepted offers were recorded!
Closed sales (831) rose 5.3% from July 2018 (789) and 4.4% from June 2019 (796)—the strongest July since 2015 when 820 were recorded.
New listings, at 1,160, edged 1.1% ahead of July 2018 (1,147) and increased 5.3% over June 2019 (1,102).
Inventory in July held steady at 2.4 months.
Average and Median Sale Prices
Comparing 2019 to 2018 through July, the average sale price has increased 3.1% from $390,700 to$403,000. In the same comparison,the median sale price has increased 3.9% from $352,400 to $366,300.
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: