- King County reported 3,462 closed sales – down from last month’s 3,655 closings and up 2.3% from two months ago. The median price of single family homes in King County increased .76% since last month while the median price of condos fell 3.9%. The number of pending sales decreased 7.36% from the same time last year and fell 11.22% since last month. Inventory of homes dropped 19.72% compared to last year at the same time.
King County Data for July 2017:
- King County median prices have increased 18.61% from twelve months ago with 1 month supply of inventory (a balanced market is between 4-6 months of inventory).
- There were 3,462 closings in King County for single family homes and condos, down 5.23% from a year ago.
- Pending sales for King County are down 7.36 % from the same time last year.
- There were 3,465 total active listings in King County for July 2017, compared to 4,316 last July and 3,057 last month.
- There were 4,191 new listings in King County compared to 4,769 new listings in June.
- The single family median price was $658,000 compared to $555,000 last July – a 18.56% gain.
It looks as though both sellers and buyers went on vacation during the month of July and took a break from the real estate market. Listings, pending sales, and closed sale numbers are all down. The only thing that continues to rise is prices!