Home sales in western and central Washington sank for the eighth straight month in October, as a surge in listings gave buyers more time to gauge the market, according to the latest figures from Northwest Multiple Listing Service.

Brokers reported 8,036 home sales last month, down 11 percent from a year earlier when 9,035 sales were recorded, according to MLS statistics.

In October, the median price paid for single-family homes and condos increased 9.8 percent from a year ago to $315,000.

In King County (Seattle), which accounts for about four of every 10 sales in the MLS service area, the median price of a single-family home (excluding condominiums) rose 12.8 percent, increasing from $390,000 a year ago to $440,000 for sales that closed last month. Condo prices jumped 20.8 percent, climbing from a median selling price of $215,000 a year ago to last month’s figure of $259,700.

For most counties in the Northwest MLS market area, price gains from a year ago tended to be in the range of 9 percent to 11 percent, NWMLS reported.

Some 11,910 new listings of single-family homes and condominiums were added to the MLS during October, about 500 more than a year ago, with every county in the region reporting double-digit inventory gains. At month end, the total inventory stood at 36,282 listings, up 48 percent from the same month last year.

“The evidence looks pretty convincing that the market has corrected itself and we are experiencing a tilt to the buyers’ side in the arena of negotiations,” said NWMLS director Dick Beeson. This “gentle incline,” as he described it, presents some good opportunities for buyers, particularly in areas like Pierce County where the selection is about 50 percent larger than a year ago.

Kirkland, Wash.-based Northwest Multiple Listing Service encompasses more than 2,100 companies with approximately 27,000 sales associates. Together, they serve 19 counties, mostly in western Washington, plus Grant, Kittitas and Okanogan counties in the central part of the state.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Keep up-to-date on tools and tactics to impress your clients and outshine your competition with the 2022 virtual bundle.Register Now×
Agent Appreciation Sale: Inman Select for only $85.CLAIM OFFER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription