Contact: data@mbaks.com

Following typical seasonal trends, the real estate market has been picking up, with similar trends predicted into the Summer. For single-family homes, the median price in King County saw a 12% rise, climbing from $875,000 last year to $980,000. Similarly, in Snohomish County, the median price increased by 4%, going from $767,500 to $799,950.

Read the full May Builders Bulletin:

The MBA and the homebuilding industry in the city of Seattle won a decisive victory recently. In the matter of Bendare Dundat v. City of Seattle (Master Builders Intervenor), Judge Barbara Mack issued a decision overturning the City's 'qualifying lot' design review ordinance for being in violation of RCW 82.02.020.

The Court determined that the ordinance imposes direct and indirect costs on projects and developers that are neither reasonably necessary nor the direct result of the proposed development. As the Court stated, "It is hard to fathom how costs and fees could be reasonable and necessary for the smaller project, but not for the first, more impactful project on the adjacent property." Finally, the Court found the city admitted that the ordinance was designed to mitigate collective impacts, not the impact of any individual project—this is the very thing that violates RCW 82.02.020.

The MBA is very happy to have been able to provide financial support to pursuing this matter in court, and the outcome is a collective benefit to developers and builders in Seattle. The MBA will continue to identify ways in which it can work to improve housing affordability within Seattle.

By MBAKS Senior Policy Analyst Allison Butcher

The Washington State Office of Financial Management has released its April 1 official population estimates of all cities and towns of the state, showing continued strong population growth. According to the annual estimates, the state’s population grew by 118,840 persons, a 1.6 % increase over the past year. The Puget Sound region’s population as of April 1, 2019 was 4,198,400. You’ll find the breakdown by county in this month’s Builders Bulletin.

The Builder's 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: