Annual NWMLS Market Stats
Closed Sales: Northwest MLS broker-members reported 84,037 closed sales of single family homes and condos valued nearly $64 billion.
Prices: In 2022, the median price for closed sales of SFH and condos system-wide was $615,000. Comparing counties, the median price ranged from $222,000 in Ferry County to $935,000 in San Juan County.
Sales Price to List Price Ratio: Single family home sales during 2022 had closing prices at 102.5% of the list price.
Highest Prices: Among 26 counties in the MLS service area, San Juan County had the highest median price for single family homes (excluding condos), at $960,000, followed by King County, at $900,000.
New Listings: MLS members added 110,294 new listings during the year, at drop of 7,654 units compared to 2021 for a 6.5% decline.
Months of Supply: Inventory, as measured by months of supply, averaged 1.44 months overall for 2022, improving on 2021’s average of 0.63, but still well below the balanced market range 4-to-6 months. At year-end, there was about 2 months of supply.
New Construction: Newly-built homes (including condos) sold by MLS members accounted for about 11.3% of sales during 2022. The median price for new construction single family homes was $730,000; for new condos it was $820,000.
Peak Activity Times: The volume of new listings peaked in June, while the volume of both pending sales and closed sales peaked in May. For active listings, the highest volume was reported in July. CondosCondos accounted for 13.3% of all sales during 2022 (11,171 units), with 59% of them in King County.
Prices, School Districts: In eight school districts, median prices for single family homes were $1 million and higher, led by Mercer Island at $2,550,000.
Prices, 3 BR Homes: Prices for 3-bedroom homes vary widely across the MLS market area, topped by San Juan County where the median price was $1,000,000. At the other end of the spectrum, the typical 3-bedroom home in Ferry County had a median price of $225,900.
Luxury Sales: NWMLS members sold 14,311 single family homes priced at $1 million or higher, including 136 that sold for $5 million-plus, and 5,014 condos priced at a half-million dollars and up. The highest priced sale, located along Medina’s “Gold Coast,” commanded $23 million. Of condo sales, 923 fetched $1 million or more, topped by a penthouse in downtown Seattle that sold for more than $7 million.