The median price for residential and condominiums throughout King County went from $650,000 in 2020 to $750,000 in 2021. This is an increase of 15.38%. The average time on market has decreased by 4 days from 19 to 15. In April of 2020 there were 2707 new listings and in April of 2021 there were 4602 which is a 41.17% increase. Pending sales increased by 77.07% and closed sales also increase by 64.11%. The shortage of homes coupled with low interest rates are driving the market here in King County. Some homes are selling above asking price with multiple offers.
Contact us today if you are thinking about buying or selling a home.