Last month we noted that single-family home listings in King County hit an all-time low in November. Now the December numbers are out and you can crown a new overall king (county). Per the Northwest Multiple Listing Service, there were only 2,196 active listings of houses and condos in King County in December, the lowest monthly level since 1993.
Furthermore, median single-family home prices hit $508,000, which tops the previous high, $481,000, set in July 2007.
With a complete picture of the entire year, it's little surprise that Seattle Bubble deemed it "the worst year ever for home buyers." In Seattle, the median sale price for single-family home ended up 20 percent higher ($600,000) than how it started. Condo prices across all of King County were up 8 percent on the year to $279,975.
No matter where you turn in the region, there are few places for sale and fewer chances to get any of them for cheap.
· King County home prices hit new highs, inventory at new lows [ST]
· 2015 Was the Worst Year Ever for Home Buyers [SB]
· King County Single-Family Housing Inventory Hits All-Time Low [CS]