NWMLS recently sent out their annual summary of the year that was in Western Washington real estate. We probably don't need to tell you that most of those numbers are up, up, up. Especially if you've been trying to buy a house all year long. We perused the report, which was chocked full of numbers, and picked out some of the most shocking, revealing and fascinating numbers within.
1. 2015 saw 88,331 closed sales amongst NWMLS members in 2015, up 14.3 percent from 77,276 in 2014.
2. The value of every NWMLS member single-family home & condo sale was over $34 billion, up almost 23 percent from 2014.
3. Both of those numbers are higher than the previous highs of 2007 when the housing market peaked (don't ask what happened after that...).
4. Average area-wide supply was 2.4 month, down from the 3.5 months number of 2014. King County was the lowest of all, averaging only 1.3 months of supply. 4-to-6 month supply is considered a balanced housing market.
5. 2,676 single family homes sold at $1 million or more, which was up over 29 percent from 2014. Add 237 condos priced at $1 million and up in as well.
6. The median price for a 3-BR home was $283,250, about 7.9 percent higher than 2014. Highest median price for 3-BRs came courtesy of San Juan County with $452,500.
7. Six of every 10 condo sales (61.9 percent) were located in King County.
8. As well as older sales did, new construction sales did even better. 8,548 newly-built single family homes sold for a median price of $425,000 while 1,018 new condos sold for a median price of $449,950.
There was a tie atop the list of cities with the most $5M+ home sales
. Mercer Island and Bellevue both saw seven, while Clyde Hill (5), Medina (4) and Seattle (4) were close behind.