Homing in on Our Region's Housing Statistics

Housing inventory remains low and housing prices continue to rise, with a 19.73% and 21.74% increase in median single-family home prices in King County and Snohomish County, respectively. In more optimistic news, construction employment in the Seattle-Bellevue-Everett metro area has hit a record high.

Please contact data@mbaks.com with questions or feedback. 

Months' Supply of Housing Inventory

As of July 2021

	King County had 0.66 months' supply of inventory (down from 1.13 months' of inventory a year ago).
	Snohomish County had 0.53 months' supply of inventory (down from .73 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

July 2021

	The median price of single-family homes and condos was $789,000 in King County and $675,000 in Snohomish County.
	For single-family homes only, the median price in King County rose 19.73%, from $727,500 a year ago to $871,000. The median price in Snohomish County rose 21.74%, from $575,000 to $700,000.
	In Seattle, the median single-family home price for July was $896,500, an 11.37% increase from July 2020.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The Washington unemployment rate for July 2021 is 5.1%; for Seattle/Bellevue/Everett, it is also 5.1%.
	Construction employment in Washington increased by 1,900 between June 2021 and July 2021. Total construction employment is 226,700 statewide and 110,800 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), July 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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When housing and environmental policy are designed well, they don’t have to compete. New data from Snohomish County proves it.

A recently released county report confirms that the “right tree, right place” approach is delivering real results. Every residential development completed through 2025 met the county’s tree canopy requirements — and nearly one-third exceeded them. Countywide coverage remains above target, with more than 4,600 new trees planted through new homes built across the county.

What the Data Shows

The report reflects what’s possible when environmental standards are clear, workable, and built into the development process from the start. Builders met the requirements. Many went further. And the county’s canopy continues to grow alongside new home construction.

This is the kind of outcome balanced policy is designed to produce.

Why It Matters

At MBAKS, we advocate for land use policies that allow homes to be built without sacrificing community values — including healthy, sustainable neighborhoods. Snohomish County’s approach demonstrates that sustainability and new home construction aren’t in opposition. With the right framework in place, they advance together.

We applaud the County for taking a data-driven approach to this work and for showing what thoughtful, solutions-oriented policy can achieve.

Read the full report from Snohomish County →

Shannon and Nick Harper, senior director of strategy & policy, discuss our progress in advancing the MBA's legislative priorities, from addressing the Supreme Court's Hirst decision to expanding career and technical education.

See how you can advocate for housing