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In November 2023, real estate trends in the Pacific Northwest revealed shifts in median home prices. According to the latest data, King County experienced a substantial 7% surge in the median price of single-family homes, rising from $827,000 in the previous year to a current value of $885,500. Meanwhile, Snohomish County witnessed a 4% increase in single-family home prices, elevating the median from $700,000 to $725,000. The overall median price, with both single-family homes and condos, stood at $799,925 in King County and $703,635 in Snohomish County. This upward price trajectory can be attributed to the dwindling housing inventory, underscoring the increased demand for homes in the area.

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The first in a new series, Shannon's 60! Shot at the 2016 REX/T-REX Awards at the fabulous W Hotel in Seattle.

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By MBAKS Senior Policy Analyst Allison Butcher

The Employment Security Department’s latest Monthly Employment Report shows a strong labor market in Washington and Seattle. As reported in the November Builder’s Bulletin, Washington’s unemployment rate for September fell to 4.4 percent, representing a 42-year low based on the Bureau of Labor Statistics data series. The Seattle/Bellevue/Everett unemployment rate was 3.4 percent.

The Builders' Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

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