MONTHLY MARKET SNAPSHOT

Real Estate Market

  • March 2024 Overview

    These interactive charts help visualize important year-over-year real estate statistics such as the number of active listings, new listings entered during the month, pending sales, closed sales, and months of inventory.

    Access data for individual counties by using the drop-down filter menu. You may download and share or publish these charts and infographics with appropriate attribution.

    Active Listings

    There were 8,100 active listings on the market at the end of March 2024, a slight increase of 1.2% when compared to March 2023 (8,007). Although the overall number of homes on the market increased, active inventory decreased in 6 counties, including Adams (-29.17%), Snohomish (-23.15%), Whatcom (-16.82%), Clallam (-10.24%), King (-6.8%), and Kitsap (-4.86%).

    Select a county in the chart below to view the available inventory counts in a particular county:

    New Listings

    NWMLS brokers added 8,028 new listings to the database in March 2024, a slight increase of 1.6% compared to March 2023, when 7,904 new listings were added.

    Use the drop-down menu in the chart below to view the number of new listings added in each county:

    Pending Sales

    There were 7,218 total residential units & condo units under contract in March 2024, a slight increase of around 1% when compared to March 2023 (7,136).

    Despite the slight overall increase, there were 6 counties that had more than a 6% year-over-year increase in the number of pending sales, including Okanogan (+29.41%), Clallam (+17.65%), Snohomish (+11.57%), King (+8.25%), Clark, (+8.22%), Lewis (+6.8%), and Adams (+6.67%).

    Select a county in the chart below to view the pending sales:

    Closed Sales

    March 2024 saw an 11.2% decrease in the number of closed sales transactions year-over-year. The total dollar value of closed sales for residential homes for this month was $3,685,299,238 and was $461,759,636 for condominiums.

    Select a county from the chart below to view the number of closed sales:

    Months of Inventory

    A balanced market is considered to be 4 to 6 months by most industry experts. At the current rate of sales, it would take less than two months to sell every home that is active in the NWMLS inventory. The four counties with the lowest months of inventory in March 2024 were Snohomish (0.8), King (1.23), Pierce (1.39), and Kitsap (1.41).

    Median Price

    Overall, the median price for residential homes and condominiums sold in March 2024 was $633,717, up 7.4% when compared to March 2023 ($590,000). The median sales price increased year-over-year in 19 of the 26 counties, with the highest median sales prices in King ($850,000), San Juan ($750,000), and Snohomish ($730,000) counties. The three counties with the lowest median priced homes sold were Pacific ($347,500), Grant ($325,000), and Columbia ($274,000).

    Select a county from the chart below to view its median sales price:

    Market Snapshot Video

    View Historical Real Estate Statistics.

    Get granular on real estate statistics with interactive charts encompassing the length of active, new, and additional metrics.

    Historical Stats

    Usage Terms

    You may share and republish NWMLS’s Market Snapshot Video, interactive charts, and infographics on websites, blogs, and social media. Any use of NWMLS’s statistical charts or infographics must include the logo that is displayed on the graphics and the following attribution: “Information and statistics compiled and reported by the Northwest Multiple Listing Service.” You may not alter or otherwise modify NWMLS’s Market Snapshot Video, interactive charts, and infographics. Derivatives of NWMLS’s housing marketing statistics may not be published, broadcast, rewritten or redistributed without prior written permission.

Back to top