NWMLS November 2021 Statistical Data

A few days ago, the NWMLS published its latest press release. You can read the full article here:

Northwest MLS brokers not seeing much seasonal slowdown, say buyers still need to be bold

 
Some key takeaways:

Historically soggy weather and the onset of holidays did not deter thousands of buyers and sellers during November, based on the latest report from Northwest Multiple Listing Service. Numbers for new listings, pending sales, and closed sales were comparable to year-ago totals, while prices rose a little more than 15%.

“Typically, we see a lull of sales activity during late fall and into early winter. While there are fewer transactions at this time of year, the intensity for each new listing going under contract is extremely high,” Scott remarked, noting there were substantially more homes going under contract (8,571) than there were new listings (6,455).

Area-wide, there were 4,621 active listings of single family homes and condominiums at month end, down nearly 29% from a year ago when there were 6,505 listings. The selection at month end amounted to about two weeks of supply (0.51 months). Five counties had even less supply: Snohomish (0.24 months), Thurston (0.35) King (0.38 months), Clark (0.39) and Pierce (0.44 months).

The Northwest MLS report shows prices within Seattle are essentially the same as a year ago: $765,000 for November’s closed sales, compared to the year ago figure of $760,000. Elsewhere, for example, for the Eastside and Southeast King County map areas, prices jumped more than 26% from a year ago.

Gardner commented on recent adjustments in Federal Housing Finance Agency (FHFA) limits for conforming loans (mortgages backed by Fannie Mae or Freddie Mac), which included a record 18% jump in most markets, but also an increase from $776,250 to $891,250 in the higher-cost tri-county area encompassing King, Pierce and Snohomish counties. “I anticipate this will be a further boost to more expensive markets.”

And here’s a whimsical video:
 

  
The NWMLS has more than 2,500 member firm offices and 32,000 WA brokers, and spans 26 counties across Washington State.