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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