Seattle sits among nation’s leaders in housing inventory percentage growth

by Patrick Regan

Seattle is among the nation’s leaders in year-over-year housing inventory percentage growth and median days on the market growth, a recent Realtor.com report shows.

Inventory of homes for sale in the 50 largest U.S. metro areas increased overall by 37.2% in September, compared to the same month last year.

Seattle’s growth was 78.7%, 10th among major metro areas. Phoenix led the way with 167.3% growth in active listings, followed by Raleigh, N.C., (166.1%) and Nashville (125.3%). 

Thirty-six out of the 50 metros measured saw year-over-year inventory growth. The biggest drops were in Hartford, Connecticut, (-28.3%); Milwaukee (-19%); and Virginia Beach (-14%).

Median days on the market in the Seattle-Tacoma-Bellevue area in September was 40, up from 29 last year. The 11-day increase was 11th among major cities. Raleigh and Austin, Texas, were tops with 23-day increases, followed by Phoenix and Las Vegas, both with 17-day hikes.

The median home sale price in the Seattle area was $762,000, a 13% increase from September 2021. Seattle was fifth in median home sale price, behind San Jose ($1.4 million), San Francisco ($1.09 million), Los Angeles ($949,000) and San Diego ($888,000).

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