The median sales price of single-family homes in King County last year was $724,950, the highest in the state and up 7.4 percent from 2019, according to new figures from the Northwest Multiple Listing Service (NWMLS) summarizing full-year results for all 23 counties represented by NWMLS.
When including condominiums, the median sales price was $663,000, up 7.1 percent.
Looking at average sales prices of single-family homes in King County since 1990 — because year-to-date median prices were not compiled until 2003 — the price has climbed from $178,187 to $878,677, or almost 400 percent in 30 years.
All told, 33,312 single-family homes and condos sold last year in the county, about 80 percent of those homes.
The highest-priced sale last year in the 23-county region was $17 million, in Medina.
Sales of single-family homes that sold for $1 million or more in the NWMLS system numbered 8,313, about 32 percent more than sold in 2019. There were 82 homes that sold for $5 million or more.
In King County, certain school districts were especially pricey. The median sales price for single-family homes hit $1.7 million in Mercer Island, and topped $1 million in the Bellevue, Issaquah, and Lake Washington districts.
Looking at single-family homes only, the median sales price in Snohomish County last year was $550,000, up 10.5 percent from 2019. When including condos, the median was $525,000, up 10.53 percent.
There were 15,004 total homes and condos sold.
Looking at average sales prices of single-family homes in Snohomish County since 1990, the price has climbed from $147,958 to $600,258, or 306 percent in 30 years.
Inventory was tight throughout the NWMLS system last year, helping to fuel higher prices. King County had a 2020 inventory level of 1.14 months, almost 35 percent lower than in 2019. Snohomish inventory was 0.74 months, down almost 49 percent from 2019.
In all 23 NWMLS counties, there were 95,760 closes sales last year valued at more than $56 billion, both up from 2019.