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NWMLS: King County Sales Up, Inventory Down in October

NWMLS has published their October market stats and there's no big surprises as the seasonal home inventory drop is in full effect even as sales continue to be strong. In King County last month, there were 3,162 new listings, 3,350 pending sales and 2,870 closings. That pending number is up almost 1% while the closings are up almost 6%, which is a lot, but, not as out of the ordinary as it might seem.

In Seattle, we saw 691 closed sales (up 0.1% YOY) and a median price of $515K, up 8.3% from last year. Over on the Eastside, closed sales were down 3.3% YOY but prices remains 7% ahead of last year at $615K. Meanwhile, nobody's doing better than Southeast King County, where closings are up 15.7% from last year and median prices are up over 10%.
· NWMLS: Prices Sag as Sales Stay Strong [SB]
· Borrowing becomes easier as housing market softens [ST]
· October Reporting Roundup: Nothing New Edition [SB]