Thurston County median home prices rose by 8 percent to $228,497 in September, data released Friday from the Northwest Multiple Listing Service showed.
In a news release, the service said September “tested the housing market’s resilience” with changing mortgage rates, record-setting rain and inventory shortages in some areas – mostly King and Snohomish counties.
In the South Sound region, both Pierce and Thurston counties have a three- to four-month supply of available homes – close to the four to six months brokers consider to be a sign of a balanced market. By comparison, King and Snohomish counties have about two months’ worth of homes listed for sale.
The median sale price for homes and condos in Pierce County last month was $220,000, up almost 10 percent from the same time a year ago, according to data from the Northwest Multiple Listings Service. At the median sale price, half the homes sold for more than that amount, and half sold for less. King County’s median price hit $384,925, a 15 percent year-over-year jump.
The Northwest Multiple Listing Service represents 21 counties in Western and Central Washington.
The NWMLS noted that the federal government shutdown doesn’t have a direct effect on home buying and selling since all but one government agency involved in housing finance remain open.
“On a macro level, we don’t expect (the shutdown) to have a significant impact on the housing market,” said OB Jacobi, a NWMLS director and president of Windermere Real Estate. “This will largely depend upon the length of the shutdown and its effect on consumer confidence.”
Kathleen Cooper: 253-597-8546 firstname.lastname@example.org