In the Puget Sound region housing affordability 'has left the building'
The hyper Seattle-area housing market is a bit like the pandemic. It just won't let up, plaguing buyers with rising prices and low inventory.
The Covid-19 pandemic in the Puget Sound region is now entering its 18th month, with the housing market not far behind with the 14th consecutive month of frenetic activity.
July housing numbers the Northwest Multiple Listing Service released Thursday offered only slight for buyers because there aren't as many offers compared to a year ago, said J. Lennox Scott, chairman and CEO of John L.Scott Real Estate.
Still, median sales prices were up year over year, around 20% in each of the four metro counties, ranging from $871,000 in King to $510,000 in both Kitsap and Pierce with Snohomish County in between at $700,000.
Condominium prices were much less heated in King, rising only 7% to $460,000. In Kitsap, prices actually fell slightly to $315,000. But in Snohomish and Pierce counties, the median price climbed around 30% to $473,000 and 16% to $355,250, respectively.
https://www.bizjournals.com/seattle/news/2021/08/05/housing-affordability-has-left-the-building.html