Market Update

April was another crazy month for the Seattle area real estate market. Inventory fell nearly 25 percent from the volume of active listings being offered a year ago. At the end of April, MLS brokers reported 10,679 homes and condos for sale across a 23-county area, which compares to the year-ago selection of 14,235 listings. The four-county Puget Sound region, which accounted for more than 77 percent of last month’s 7,276 closed sales, reported a price hike of nearly 14.7 percent, led by Snohomish County at 16.7 percent. In Snohomish County.

Homes and condos that sold last month in King County fetched a median price of $550,000, up about 15.8 percent from a year ago. For single-family homes (excluding condos) the median price was $625,000. That’s $85,000 more than the year-ago figure, and $25,050 more than the previous month. For the city of Seattle, the median sales price for single family homes was $700,000 in April.

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