Below is a summary of the February 2019 SW Washington real estate market data. Feel free to download the entire report, courtesy of RMLS.
February Residential Highlights
February brought mixed numbers to the Southwest Washington region, with some gains seen compared to last month. Closed sales (512) increased 8.0% compared with the 474 closings recorded last month (January 2019) but fell 7.6% short of the 554 closings recorded last year in February 2018.
Pending sales (634) fared similarly, decreasing 7.4% compared with February 2018 (685) but edging ahead of January 2019 (628) by 1.0%.
New listings, at 732, showed a 3.8% decrease from February 2018 (761) and a 14.9% decrease from January 2019 (860).
Inventory decreased to 2.9 months in February, with total market time decreasing to 69 days during the same period.
Average and Median Sale Prices
Comparing the average price of homes sold in the twelve months ending February 28th of this year ($396,100) with the average price of homes in the twelve months ending January 2018 ($367,500) shows an increase of 7.8%. The same comparison of the median shows an increase of 7.8% over the same period, from $330,300 to 356,000.
Download the full February 2019 SW Washington Real Estate market data below