Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

Snohomish County’s median home price for single family homes and condos combined reached a new high of $800,000 in April. Meanwhile, the median price of a single family home in Seattle surpassed $1 million, with King County not far behind. According to data from the Northwest Multiple Listing Service, King County’s median single family home price rose to $995,000 in April, a 20% increase from a year ago.

Please contact data@mbaks.com with questions or feedback. We want to know what data would be useful to you!

Months' Supply of Housing Inventory

As of April 2022

	King County had 0.69 months' supply of inventory (up from 0.65 months' of inventory a year ago).
	Snohomish County had 0.64 months' supply of inventory (up 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

April 2022

	The median price of single-family homes and condos was $880,000 in King County and $800,000 in Snohomish County.
	For single-family homes only, the median price in King County rose 19.88%, from $830,000 a year ago to $995,000. The median price in Snohomish County rose 24.34%, from $675,000 to $839,298.
	In Seattle, the median price of single-family homes and condos was $888,000. The median price for single-family homes only was $1,019,950, a 16.57% increase from $875,000 in April 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for April 2022 is 4.1%; for Seattle/Bellevue/Everett, it is 2.9%.
	Construction employment in Washington increased by 200 between March 2022 and April 2022. Total construction employment is 231,000 statewide and 108,100 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), April 2022 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

Icons made by Freepik from flaticon.com

Contact:
Stephanie Giralmo, Public Relations & Media Manager
Master Builders Association of King and Snohomish Counties
p 425.457.7067

FOR IMMEDIATE RELEASE

Master Builders Association President Aims to Continue Association's Legacy as Trusted Source for Homebuilders

“I am thrilled and honored to be serving as President of the Board of Directors,” said Tenhulzen. “After 25 years of being a member, I continue to be inspired by people around me who selflessly give their time to help continue the success of the association.”

With a degree in Exercise Physiology and Business focused on Ergonomics from Washington State University and a Master’s in Human Resources from Southern New Hampshire University, Tenhulzen began her career in Corporate Wellness. Tenhulzen then transitioned into the homebuilding industry when she started her own safety and consulting company, Safety Resource Management and Consulting. She sold her company and joined Tenhulzen Residential seven years later and now serves as the Executive Producer where she oversees the business operations, which includes Human Resources, Sales, and Safety Management.

“Our goal is to build homes, not barriers,” stated Tenhulzen. “The advocacy work that the Master Builders Association of King and Snohomish Counties does will help generations to come set down roots in the wonderful region we call home.”

Tenhulzen is an active member of the Bellevue Breakfast Rotary Club and enjoys watching her son Matthew play football. In their spare time the Tenhulzen family enjoy hiking, skiing, cooking and going on long walks with Isabelle, their black lab.

About MBAKS

Founded in 1909 and headquartered in Bellevue, Washington, the Master Builders Association of King and Snohomish Counties (MBAKS) is the nation’s oldest and largest local homebuilders’ association. Like our founders, our members continue to take a leading role in all facets of homebuilding and support the planning for a growing region. From new technology to advances in sustainability, from collaborative public policy efforts to investing in our communities, our commitment to a thriving, inclusive and well-planned region never wavers. We are the professional homebuilders, architects, remodelers, tradespeople (carpenters, framers, roofers, plumbers, electricians), planners and engineers, suppliers, manufacturers, and sales and marketing professionals in your community who believe everyone deserves access to a healthy and productive place to call home.

###

Association Seeking Nominations for MBAKS Hall of Fame

Do you know someone who has made a significant contribution to the Master Builders Association of King and Snohomish Counties? The MBAKS Hall of Fame Award honors those who have made significant and lasting contributions to the association.

We are asking members to nominate someone deserving of this award and submit it to Kelsey Burdulis kburdulis@mbaks.com by Friday, September 6, 2024. Download the nomination form.

Nomination Period Open for Exceptional Service Award

Do you know an association member or staff member who has performed distinguished service to MBAKS on a sustained basis for at least 10 years? Now is the time to consider nominating them for an Exceptional Service Award. The award represents the highest recognition for members and staff for their professional leadership and exemplary service to the association.

If you would like to recommend someone for this award, please submit your nomination to

Kelsey Burdulis- kburdulis@mbaks.com by Friday, September 6, 2024. Download the nomination form.