Local Market Update – January 2021

A Research Tool Provided by Northwest Multiple Listing Service®

 

King County

 

 

 

January

Year to Date

Key Metrics

2020

2021

% Change

Thru 1-2020

Thru 1-2021

% Change

New Listings

1,708

1,847

+ 8.1%

1,708

1,847

+ 8.1%

Pending Sales

1,581

1,822

+ 15.2%

1,581

1,822

+ 15.2%

Closed Sales

1,275

1,400

+ 9.8%

1,275

1,400

+ 9.8%

Days on Market Until Sale

46

26

- 43.5%

46

26

- 43.5%

Median Sales Price*

$645,000

$729,000

+ 13.0%

$645,000

$729,000

+ 13.0%

Average Sales Price*

$750,376

$911,813

+ 21.5%

$750,376

$911,813

+ 21.5%

Percent of List Price Received*

99.6%

102.4%

+ 2.8%

99.6%

102.4%

+ 2.8%

Inventory of Homes for Sale

1,763

1,075

- 39.0%

––

––

––

Months Supply of Inventory

0.8

0.5

- 37.5%

––

––

––

 

Condo

January

Year to Date

Key Metrics

2020

2021

% Change

Thru 1-2020

Thru 1-2021

% Change

New Listings

575

711

+ 23.7%

575

711

+ 23.7%

Pending Sales

542

696

+ 28.4%

542

696

+ 28.4%

Closed Sales

366

441

+ 20.5%

366

441

+ 20.5%

Days on Market Until Sale

54

42

- 22.2%

54

42

- 22.2%

Median Sales Price*

$410,000

$408,000

- 0.5%

$410,000

$408,000

- 0.5%

Average Sales Price*

$496,957

$506,610

+ 1.9%

$496,957

$506,610

+ 1.9%

Percent of List Price Received*

98.4%

99.5%

+ 1.1%

98.4%

99.5%

+ 1.1%

Inventory of Homes for Sale

595

808

+ 35.8%

––

––

––

Months Supply of Inventory

1.0

1.3

+ 30.0%

––

––

––

* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.

 

 

 

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.

 

Current as of February 1, 2021. All data from Northwest Multiple Listing Service®. Report © 2021 ShowingTime.