The Blog ofWashington First

Washington October 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.

October Residential Highlights

Pending and closed sales saw gains this month compared with October 2018. At 753, pending sales rose 9.8% of the 686 offers accepted last year in October 2018 despite falling 0.5% short of the 757 recorded last month in September 2019.

Closed sales, at 695, increased from October 2018 (680) by 2.2% but cooled 4.9% from September 2019 when 731 closings were recorded.

New listings (808) fell 4.2% short of October 2018 (843) and 10.6% short of September 2019 (904).

Total market time increased to 51 days in October, while inventory remained the same at 2.5 months.

Average and Median Sale Prices

Comparing 2019 to 2018 through October, the average sale price has increased 3.2% from $393,200 to $405,700. In the same comparison, the median sale price has increased 4.1% from $355,400 to $369,900.

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: