Darylene Dennon, CEO of Solid Energy Inc. and MBA member since 1999, shares some of the surprising professional and personal benefits of being an active MBA member.

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Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

Data from the Northwest Multiple Listing Service show King and Snohomish counties had less than two weeks of supply of homes for sale in March, while home prices continued to escalate. Meanwhile, single-family permits for King, Snohomish, and Pierce counties combined stood at 1,259 through February, with 3,039 multifamily units permitted in the three counties during the same two-month period.

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 March 2022

	King County had 0.49 months' supply of inventory (down from 0.60 months' of inventory a year ago).
	Snohomish County had 0.42 months' supply of inventory (up from 0.28 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

March 2022

	The median price of single-family homes and condos was $838,753 in King County and $758,707 in Snohomish County.
	For single-family homes only, the median price in King County rose 12.73%, from $824,997 a year ago to $930,000. The median price in Snohomish County rose 25.00%, from $640,000 to $800,000.
	In Seattle, the median price of single-family homes and condos was $865,000. The median price for single-family homes only was $970,000, a 17.58% increase from $825,000 in March 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for March 2022 is 4.2%; for Seattle/Bellevue/Everett, it is 3.1%.
	Construction employment in Washington increased by 1,300 between February 2022 and March 2022. Total construction employment is 231,200 statewide and 106,900 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), March 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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Kimberley Martin is the owner of Cyneburg Scapes. The company creates woodscapes to attain the homeowner’s vision and allow them to enjoy the outdoors at home. Kimberley is actively involved on our PWB Executive Council.

I, Luellen Smith, own Rhino Wine Cellars & Cooling Systems with my husband. Our company designs and installs custom wine cellars and cooling systems for clients around the world. We strive to be the market leader in custom wine cellar design and enjoy turning our clients' wine cellar dreams into a reality. I am honored to be the PWB Council chair this year.

Please join with us in celebrating all PWB tradeswomen this week! We encourage you to share your story with us.

Learn more about PWB at mbaks.com/pwb. Share your story and get involved at facebook.com/groups/MBAKSPWB.