Another month, another tale of inventory woes plaguing the Washington real estate market.
According to the latest report from the Northwest Multiple Listing Service, experts are finding many potential home-buyers are expanding their search beyond the major job centers in King County as a result of the crunch on supply in the month of August.
System-wide the 23 counties serviced by the MLS have less than two months of supply — a number that drops to 1.6 months in the four-county Puget Sound region. Year-over-year, that looks like a 13% drop in supply system-wide, and an 18.5% drop in King County.
Within King County the median sales price has held steady at $760,000 for single-family homes, and areas outside King are becoming a draw for more affordable prices.
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