Below is a summary of the August 2019 SW Washington real estate market data. Feel free to download the entire report, courtesy of RMLS.
August Residential Highlights
Southwest Washington saw strong closings this August. At 856, closings rose 4.9% compared with last year in August 2018 and 3.0% compared with last month in July 2019 (831). This was the strongest August for closings since 2005, when there were 932 recorded.
Pending sales, at 871, increased 7.3% from the 812 offers accepted in August 2018 but fell 5.7% short of the 924 accepted last month in July 2019.
New listings, at 1,074, fell 0.8% short of August 2018 (1,083) and 7.4% short of July 2019 (1,160).
Inventory decreased just slightly in August to 2.3 months, with total market time increasing by five days to end at 47 days.
Year to Date Summary
Activity is a bit mixed in 2019 compared with 2018. Pending sales (6,407) are up 3.2% and new listings (8,519) are up 1.6%, while closed sales (5,782) are down 0.9%.
Average and Median Sale Prices
Comparing 2019 to 2018 through August, the average sale price has increased 3.2% from $392,200 to $404,700. In the same comparison, the median sale price has increased 4.2% from $355,000 to $369,900.
Download the full August 2019 SW Washington Real Estate market data below