The Blog ofWashington First

Washington September Market Activity

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.

September Residential Highlights

Pending and closed sales saw gains this month compared with September 2018. At 757, pending sales rose 9.9% of the 689 offers accepted last year in September 2018 despite falling 13.1% short of the 871 recorded last month in August 2019.

Closed sales, at 731, fared similarly, outpacing September 2018 (677) by 8.0% but cooling 14.6% from August 2019 when 856 closings were recorded.

New listings (904) fell 4.9% short of September 2018 (951) and 15.8% short of August 2019 (1,074).

Total market time held steady at 47 days in September, while inventory increased just slightly to 2.5 months.

Average and Median Sale Prices

Comparing 2019 to 2018 through September, the average sale price has increased 3.1% from $392,300 to $404,300. In the same comparison, the median sale price has increased 3.9% from $355,000 to $369,000.

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: