Inventory woes make outside King County seem attractive — but relief may come soon

Inventory is a problem for the Washington real estate scene. According to this month's Northwest Multiple Listing Service report, the total active listings is down more than 10%, with 14 counties having double-digit drops. Only seven counties have more than three months of supply, with four-to-six months generally considered a sign of a "balanced" market.

Just four of the 23 counties covered by the NWMLS area showed a year-over-year increase in the report: Chelan, Grays Harbor, San Juan, and Whatcom.

As experts in the report note in the NWMLS report, depleted inventory has led to rising values for the homes that do hit the market — including Kitsap County, where median prices have surged 14.2% from 12 months ago.

Kitsap is just one of many counties surrounding King County that continue to see an uptick in house-buyers looking for affordability.

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"Pierce County is now experiencing what King County did 24 months ago where a surplus of buyers and lack of supply are pushing up home prices. Snohomish County also saw a big bump with a massive 16% increase in pending sales year-over-year. This tells us the secret is clearly out that housing in the counties to the north and south of Seattle is more affordable," said OB Jacobi, president of Windermere Real Estate.

The silver lining is that market analysts believe that the market will bring out more options for buyers, with sellers trying to strike at the right time between summer and fall.

"As we enter the fall housing market, both interest rates and job growth in Puget Sound are extremely positive," said J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, calling October "historically the best selection and availability" for the next six months.

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"With kids back in school and summer vacations over, homeowners who wish to sell their house before the winter season will look to put their home on the market soon. Similarly, buyers can take advantage of the market timing and low interest rates in the next two months to come."

So if you're looking to buy, there may be a window soon. But act fast — winter is coming.

Click through the slideshow above to see less expensive housing options in Pierce, Kitsap and Snohomish counties. The listings start at $349,950.