Homing in on Our Region's Housing Statistics

Severe shortages of housing inventory for sale continued in December, with only 0.27 months’ supply (about one week) in King County and 0.20 months’ supply (less than a week) in Snohomish County. This represents a decline from the previous month and year-over-year. The snow and cold temperatures also impacted home sales in December, according to the Northwest Multiple Listing Service.

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Months' Supply of Housing Inventory

As of December 2021

	King County had 0.27 months' supply of inventory (down from 0.63 months' of inventory a year ago).
	Snohomish County had 0.20 months' supply of inventory (down from 0.26 a year ago).

Many industry analysts consider a four-to-six-month level as an indicator of a healthy market.

Source: Northwest Multiple Listing Service

Median Home Price

December 2021

	The median price of single-family homes and condos was $749,000 in King County and $679,950 in Snohomish County.
	For single-family homes only, the median price in King County rose 9.46%, from $740,000 a year ago to $810,000. The median price in Snohomish County rose 22.06%, from $573,495 to $700,000.
	In Seattle, the median price of single-family homes and condos was $762,475. The median price for single-family homes only was $839,000, a 4.88% increase from $799,950 in December 2020.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for December 2021 is 4.5%; for Seattle/Bellevue/Everett, it is 4.1%.
	Construction employment in Washington increased by 1,300 between November 2021 and December 2021. Total construction employment is 231,400 statewide and 109,200 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), December 2021 and Bureau of Labor Statistics.

Population

The Puget Sound region's population as of April 1, 2021 was 4,330,400. Over the past year, the region added 66,200 people, as follows:

Source: Office of Financial Management

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By The Everett Herald staff

BELLEVUE—Former Everett Councilman Shannon Affholter is preparing to resign as executive director of the Master Builders Association of King and Snohomish Counties next month to become chief operating officer for a major Pacific Northwest land-development company.

Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

Median home prices continued their upward trend in February, rising to $759,735 in King County and $700,250 in Snohomish County. The median price of a single family home meanwhile was $857,750 and $745,725 respectively.

Please contact data@mbaks.com with questions or feedback. We want to know what data would be useful to you!

Months' Supply of Housing Inventory

As of February 2022

	King County had 0.55 months' supply of inventory (down from 0.85 months' of inventory a year ago).
	Snohomish County had 0.41 months' supply of inventory (down from 0.42 a year ago).

Many industry analysts consider a four-to-six-month level as an indicator of a healthy market.

Source: Northwest Multiple Listing Service

Median Home Price

February 2022

	The median price of single-family homes and condos was $759,735 in King County and $700,250 in Snohomish County.
	For single-family homes only, the median price in King County rose 14.37%, from $750,000 a year ago to $857,750. The median price in Snohomish County rose 19.49%, from $624,075 to $745,725.
	In Seattle, the median price of single-family homes and condos was $760,000. The median price for single-family homes only was $925,000, a 15.91% increase from $798,000 in February 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for February 2022 is 4.3%; for Seattle/Bellevue/Everett, it is 3.4%.
	Construction employment in Washington increased by 2,500 between January 2022 and February 2022. Total construction employment is 230,600 statewide and 105,200 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), February 2022 and Bureau of Labor Statistics.

Population

The Puget Sound region's population as of April 1, 2021 was 4,330,400. Over the past year, the region added 66,200 people, as follows:

Source: Office of Financial Management

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