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.

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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

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Larry Thibeault of Lake Stevens Design Build shares how MBAKS helped him go from a cabinet salesman to a big builder in Snohomish County.

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Master Builders Association of King and Snohomish Counties (MBKAS) has once again partnered with Gelotte Hommas Drivdahl Architecture (GHDA) to produce a project for Gingerbread Village—on display now through January 1, 2025 at the Sheraton Grand Seattle.

This year’s theme is Iconic Destinations. Our project is “Vive La Paris." The display showcases many recognizable Paris landmarks and offers a few special surprises you won’t want to miss.

Project lead Eric Drivdahl designed and constructed this year’s gingerbread project with help from his talented team at GHDA and a dedicated group of volunteers.

Special thanks to MBAKS’ Mike Pattison and Allison Butcher who contributed many hours to the project and Amber Snellgrove for crafting fondant characters for the display; Joe White of Corner 2 Corner Builders Llc for building the bases for our project; MBAKS 1^st Vice President Jennifer Tennyson for volunteering during the construction phase; and our Breakthrough T1D Elf Lina and her family for their help and support from developing the design to the reveal day ceremony.

Support Breakthrough T1D and Diabetes Research
While this event is free, a $5 donation is recommended, and all proceeds go to Breakthrough T1D (formerly JDRF). You can donate online by voting for your favorite project. Please vote for Paris, France/Elf Lina to help support this great cause.

Visiting Gingerbread Village
Add to your holiday fun list by visiting our project! Viewing hours are 9am to 9pm Sunday through Thursday, and 9am to 11pm Friday and Saturday between now and New Year’s Day.