King & Snohomish County Market Stats – May 2017

What’s Happening in the Market

Eastside (based on Residential and Condominium report):

• Closed median price at an all-time high of $748,944, up 20% from a year ago

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

• 748 active listings as of 4/30/17.  Down 33% from the year before and 48% from two years before.

• Scarcity has buyers paying above list price on 65% of the sales that closed in April.

• What was the cost of waiting on year (April 2016 vs April 2017) to buy?  $123,944 in median price.  $9,026 per year in payment.