LONG BEACH — The median price for houses and condos throughout Pacific County shot up more than 39% in September compared to a year earlier, according to Northwest Multiple Listing Service.
The countywide median was $236,500, up from $170,000 in September 2019. On the peninsula the median rose to $259,000, up 30% from 12 months earlier. “Median” means half sold for more and half for less.
Reflecting current intense interest in living on the south Washington coast coupled with a reluctance by residents to move during a pandemic, the housing supply tightened by 53% to 97 total listings countywide, down from 207 in September 2019. There were 70 active listings on the peninsula, 56% fewer than the same time last year.
Looking just at single-family dwellings, prices increased 38.6% countywide and 34.6% on the peninsula, to $254,250 and $269,000 respectively. Condominiums — which are predominantly located on the peninsula — sold for 51% more this September, going for a median of $153,000. Twelve listings for condos remained active in September, 40% fewer than 12 months earlier.
Overall in the county, there was an extraordinarily tight 1.39 months of housing inventory in September. This means that at the current pace of sales, all would sell in that time if more did not come on the market. On just the peninsula, it was an even tighter 1.27 months. Raymond, the county’s second-largest housing market, had two months of inventory and a median price of $179,000, a 22% increase.