2018 Brought Record High Dollar Volume Sales in Washington
While 2018 did not bring with it record increases in prices, as years before had, the overall dollar volume of the sales reported by the members of the Northwest Multiple Listing Service was record-high: $47.2 billion in 23 counties of Washington state. The 92,555 closed single family and condominium sales amounted to a dollar volume $688 million higher than in 2017 – a gain of 1.4 percent.
Of the almost ninety-three thousand sales mentioned above, a vast majority are homes – over eighty thousand or 86.7%, according to the year-end report from the NWMLS. Condominiums made up 13.3% or 12,323 total units. Of the total sales, new construction amounted to over ten percent of the total.
The median year-over-year prices of both condominiums and single-family homes also saw an increase. For single family residence, the median price went from $380,000 in 2017 to $410,000 in 2018. Condominium prices saw an even higher increase, from $316,000 to $352,000 – a 11.4% increase.
The comprehensive, 43-page report contains a multitude of interesting findings. For example, the highest home sales was in Medina – a staggering $26,750,000. Meanwhile, the most expensive condominium sold at Water’s Edge in Kirkland – at $6,100,000.
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