Seattle Housing Inventory Records Rare Increase

Seattle Housing Inventory Records Rare Increase

July 6, 2018
Among the nation’s 62 largest cities, Seattle emerged as the best place to set up residence, according to a new data study by WalletHub
For the first time since September 2016, Seattle’s housing inventory has experienced an increase.
According to a Curbed Seattle report citing data from the Northwest Multiple Listing Service, there were 1,246 active listings within the city limits last month, a 75.5 percent increase from one year earlier. Seattle carried 1.2 months of inventory in June, which is double the level from the previous year.
Still, more listings do not translate into lower home prices. Last month, Seattle’s median closing prices were up 8 percent on a year-over-year measurement—$812,500 for a single-family home—while home values recorded a 17 percent annualized increase.