Homing in on Our Region's Housing Statistics

Though not quite a record low, housing supply is still far from healthy in the Puget Sound region. Year over year, months of supply dropped 42% to 0.57 and 27% to 0.36 in King and Snohomish counties, respectively.

The East of Lake Sammamish MLS map area had the lowest months of inventory for King County, at 0.16; Belltown/Downtown had the highest, at 2.41. King County condo supply was higher, at 0.94 months of supply, than single-family housing supply, at 0.47.

The Southwest Snohomish County MLS map area had the lowest months of inventory for Snohomish County, at 0.25, and Northeast Snohomish County had the highest, at 0.49. Snohomish County condo supply was lower, at 0.24 months of supply, than single-family housing supply, at 0.39. 

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Months' Supply of Housing Inventory

As of October 2021

	King County had 0.57 months' supply of inventory (down from 0.99 months' of inventory a year ago).
	Snohomish County had 0.36 months' supply of inventory (down from 0.49 a year ago).

Many industry analysts consider a four-to-six-month level as an indicator of a healthy market.

Source: Northwest Multiple Listing Service

Median Home Price

October 2021

	The median price of single-family homes and condos was $750,000 in King County and $664,950 in Snohomish County.
	For single-family homes only, the median price in King County rose 10.64%, from $745,000 a year ago to $824,270. The median price in Snohomish County rose 19.83%, from $579,972 to $695,000.
	In Seattle, the median price of single-family homes and condos was $790,000. The median price for single-family homes only was $850,000, a 6.25% increase from $800,000 in October 2020.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for October 2021 is 5.0%; for Seattle/Bellevue/Everett, it is 4.9%.
	Construction employment in Washington decreased by 800 between September 2021 and October 2021. Total construction employment is 228,100 statewide and 109,600 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), October 2021 and Bureau of Labor Statistics.

Population

The Puget Sound region's population as of April 1, 2021 was 4,330,400. Over the past year, the region added 66,200 people, as follows:

Source: Office of Financial Management

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FOR IMMEDIATE RELEASE
Media Contact:
Sharon Couts
Master Builders Association of King and Snohomish Counties
425.499.1723

37 Ramps to Be Built in One Day in the Largest Rampathon Ever

Seattle—May 21, 2016—On May 21, the lives of 37 families will change just a little bit, thanks to local builders volunteering their time to build ramps for Rampathon in King and Snohomish counties. Many families with disabilities have difficulties getting in and out of their homes. The Master Builders Association of King and Snohomish Counties, along with its members, want to make the lives of families facing disabilities a little easier.

Recipients of a few of those ramps include 6-year-old Colby, a tiny house village serving homeless individuals and families, and a WWII veteran. This year, 37 ramps will be built during Rampathon. In the 23 years of the event, this is the largest Rampathon ever. Since its inception in 1993, more than 370 ramps have been built with $1.7 million in in-kind donations.

Colby

Colby was a typical nine-month-old when his mother received a phone call that changed their lives. Colby is a victim of abusive head trauma. He was assaulted by his babysitter, who couldn't deal with his crying. The result was a traumatic brain injury that left him in a lifelong non-ambulatory state. He is now a permanent wheelchair user. His family is devoting themselves to educating care givers and new parents on the effects of frustrated behaviors and development of understanding that babies cry for many reasons and sometimes for no reason we can understand or fix.

Colby is now 6 years old; Rampathon happens the day after the sixth anniversary of this tragedy. Pacific Lumber Inspection Bureau will be building Colby's ramp.

Nickelsville Tiny Home Village

Sawhorse Revolution worked with a coalition of organizations to create Seattle's first tiny house village. It' is designed to provide a safe space and transitional services to those experiencing homelessness. Opened in January 2016, it featured plumbed bathroom facilities. Now, they're building a ramp to provide access to bathroom and shower facilities for those individuals who struggle with homelessness and disabilities.

Sawhorse Revolution works with high school students of diverse backgrounds from Seattle and surrounding areas. Under the tutelage of mentors, professional builders, architects, and cross-disciplinary educators, they offer students a widely applicable skill set, opportunities for character development, and confidence in their abilities to engage and improve their communities.

WWII Veteran Hideyoshi Horikawa

95-year-old Hideyoshi has been in a care facility four times due to complications from falls. He has hemiparesis (weakness or inability to move) in his upper and lower extremities. His left calf muscle is weak due to a WWII gunshot wound from his time in the U.S. Army during the European campaign. He has reduced sensation in his feet due to frostbite he received during the war. He currently has to use Tri-Med services to enter and exit his home. His wife is his primary care giver.

Carlisle Classic Homes will be building Hideyoshi's ramp.

About the MBA

Founded in 1909, the Master Builders Association of King and Snohomish Counties (MBA) has grown to become the largest residential homebuilders association in the United States. With 2,800 member companies, the association is dedicated to membership value, government advocacy, financial stewardship, and promoting the residential building industry in the Puget Sound region. The association and its members address many of the concerns and issues affecting the residential housing industry. If you are looking to buy, build, remodel or maintain your home, trust MBA for industry professional referrals and practical information to get the job done. mbaks.com

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By MBAKS Senior Policy Analyst Allison Butcher

According to the Northwest Multiple Listing Service, May was the first time King County had more than a month's supply of homes for sale since September 2017. It was only the third time since October 2016. However, this is still far below the four-to-six month level that many industry analysts consider as an indicator of a healthy market.

The Builders' Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report: