Homing in on Our Region's Housing Statistics
By MBAKS Senior Policy Analyst Allison Butcher
Median home prices continued their upward trend in February, rising to $759,735 in King County and $700,250 in Snohomish County. The median price of a single family home meanwhile was $857,750 and $745,725 respectively.
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Months' Supply of Housing Inventory
As of February 2022
 | King County had 0.55 months' supply of inventory
(down from 0.85 months' of inventory a year ago). |
| Snohomish County had 0.41 months' supply of inventory
(down from 0.42 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
February 2022
 | The median price of single-family homes and condos was $759,735 in King County and $700,250 in Snohomish County. |
| For single-family homes only, the median price in King County rose 14.37%, from $750,000 a year ago to $857,750. The median price in Snohomish County rose 19.49%, from $624,075 to $745,725. |
| In Seattle, the median price of single-family homes and condos was $760,000. The median price for single-family homes only was $925,000, a 15.91% increase from $798,000 in February 2021. |
Source: Northwest Multiple Listing Service
Building Permit Activity
Jobs
 | The seasonally adjusted Washington unemployment rate for February 2022 is 4.3%; for Seattle/Bellevue/Everett, it is 3.4%. |
| Construction employment in Washington increased by 2,500 between January 2022 and February 2022. Total construction employment is 230,600 statewide and 105,200 for Seattle/Bellevue/Everett specifically. |
Source: Employment Security Department: WA Employment Estimates
(Seasonally Adjusted), February 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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