King & Snohomish County Market Stats – March 2017

What’s Happening in the Market

• Closed median price at an all-time high of $736,500, up 20% from a year ago.

• Price appreciation is being driven by low supply and high demand.  Eastside month’s supply of inventory is less than three weeks (0.7 months), the lowest ever.

• 737 active listings as of 3/31/17.  Down 21% from last year and 42% from the year before.

• Scarcity has buyers paying above list price on 61% of the sales that closed in March.

• What was the cost of waiting on year (March 2016 vs March 2017) to buy?  $120,400 more in median price. Interest rates up .51%.  $769 a month more for the same home.