Below is a summary of the May 2019 SW Washington real estate market data. Feel free to download the entire report, courtesy of RMLS.
May Residential Highlights
Southwest Washington saw some mixed activity this May, with some measures falling just short of last May. Pending sales, at 904, increased 2.3% ompared with May 2018 and 3.1% compared with April 2019.
Closed sales, at 795, fell 0.7% short of the 801 closings recorded last year in May 2018, despite a 17.6% increase over the 676 closings recorded last month in April 2019.
New listings, at 1,272, similarly fell 0.8% short of May 2018 (1,282) but had a 11.6% increase over April 2019 when 1,140 new listings were offered.
Inventory decreased slightly in May to 2.3 months, and total market time decreased to 49 days.
Year to Date Summary
Activity is mixed in 2019 compared with 2018. New listings (5,081) are up 4.5%, whereas pending sales (3,786) are down 0.1% and closed sales (3,187) are down 3.5%.
Average and Median Sale Prices
Comparing 2019 to 2018 through May, the average sale price has increased 3.8% from $385,600 to $400,100. In the same comparison, the median sale price has increased 4.1% from $350,000 to $364,400.
Download the full May 2019 SW Washington Real Estate market data below