Information and statistics derived from Northwest Multiple Listing Service.
General Market Observations:
Efficiency Redefined
- Median Prices: Median pending prices are suggesting a strong market. In case you’re interested the highest being in San Juan ($987,750) and the lowest in Grays Harbor ($294,900).
- Sales Volume: King County continues to dominate in sales volume, reflecting the ongoing demand to be in the Seattle metropolitan area.
Key Takeaways
Here are some key insights from the July 2024 real estate market report for Western Washington that could be helpful for both buyers and sellers:
- Pricing Trends: In King County, the median pending price is around $830,000, with an average pending price of $1,045,143. Snohomish and Pierce counties have lower median pending prices at $725,000 and $549,999, respectively.
- Market Activity: Active listings are higher in larger counties like King, Snohomish, and Pierce, indicating more options for buyers. However, smaller counties like San Juan and Mason have fewer listings, potentially leading to more competition.
- Faster Sales: Several counties show a high percentage of cross-sales, indicating that a large portion of pending sales are closing successfully. This suggests that well-priced homes are likely to sell faster.