Market Snapshot

Real Estate Market – Market Snapshot January 2024

January 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. 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 7,084 active listings on the market at the end of January 2024, a decrease of nearly 14% compared to January 2023 (8,220). The volume of homes on the market has continued to decline throughout Washington with 15 out of 26 counties covered by NWMLS seeing a year-over-year decrease. 

New Listings

NWMLS brokers added 4,954 new listings to the database in January 2024, which is nearly the same (+.6%) as in January 2023, when 4,925 new listings were added.

Pending Sales

There were 5,282 total residential units & condo units under contract in January 2024, a decrease of 8.6% when compared to January 2023 (5,776).

Despite the overall decrease, there were 10 counties that had a year-over-year increase in the number of pending sales, in Adams, Chelan, Clallam, Clark, Grant, Grays Harbor, Jefferson, Kittitas, Pacific, and Whatcom counties.

Closed Sales

January 2024 saw a 3% increase in closed sales transactions year-over-year, an improvement from December 2023’s year-over-year change in closed sales transactions (-11%). The total dollar value of closed sales for residential homes for this month was $2,161,883,933 and was $264,930,742 for condominiums.

The seven counties with the highest increases in the number of homes sold year over year were Walla Walla (+61%), Chelan (+60%), Kittitas (+36%), Thurston (+17%), Snohomish (+11%), Douglas (+11%), and Whatcom (+9%).

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 around two months to sell every home that is active in the NWMLS inventory. The four counties with the lowest months of inventory in January 2024 were Snohomish (0.84), Thurston (1.69), King (1.78), and Pierce (1.82).

Median Price

Overall, the median price for residential homes and condominiums sold in January 2024 was $593,500, up 6.5% when compared to January 2023 ($557,250). The median sales price increased year-over-year in 19 of the 26 counties, with the highest median sales prices in King ($760,000), San Juan ($757,000) and Snohomish ($700,000) 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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