Market Snapshot

Real Estate Market – Market Snapshot December 2023

December 2023 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. You can 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 7,617 active listings on the market at the end of December 2023, a decrease of 19.6% compared to December 2022 (9,475). The total volume of homes for sale has continued to decline, with 15 out of 26 counties seeing a year-over-year decrease.

New Listings

NWMLS brokers added 2,884 new listings to the database in December 2023, a decrease of 3.2% compared to December 2022, when 2,980 new listings were added.

Pending Sales

There were 4,098 total residential units & condo units under contract in December 2023, an increase of 2% compared to December 2022 (4,017).

There were 13 counties with a year-over-year increase in the number of pending sales, King, Snohomish Pierce, Kitsap, Cowlitz, Thurston, Kittitas, Jefferson, Okanogan, Whatcom, Clark, Chelan and Adams.

Closed Sales

NWMLS brokers reported 4,018 closed sales in December 2023, which is a 11.2% drop from closed sales in December 2022 (4,524). The total dollar value of closed sales for residential homes for this month was $2,661,716,924 and was $298,646,210 for condominiums.

Despite the decrease, seven counties saw an increase in the number of homes sold year over year, including Clallam, Cowlitz, Grant, Adams, Walla Walla, Island and Kittitas counties.

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 almost two months to sell every home that is active in the NWMLS inventory. The four counties with the lowest months of inventory in December 2023 were Snohomish (0.9), King (1.42), Thurston (1.54), Kitsap (1.75).

Median Price

Overall, the median price for residential homes and condominiums sold in December 2023 was $597,975, up 4.9% when compared to December 2022 ($570,000). The median sales price increased year-over-year in 16 of the 26 counties, with the highest median sales prices in San Juan ($1,450,000), King ($775,000), and Snohomish ($675,000) counties.

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.

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.

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