In February 2024, there were 602 new listings in Southwest Washington, which is a 30.6% increase from the 461 listed in February 2023, and an increase of 10.1% from the 547 listed in January 2024.
569 pending sales last month show a 13.8% increase from the 500 offers accepted in February 2023, and an increase of 27.9% from the 445 offers accepted the previous month in January 2024.
Closed sale count of 402 this past February was an increase of 3.6% from the 388 closings last year in February 2023, and an increase of 30.1% from the 309 closings last month in January 2024.
Inventory decreased to 2.5 months in February 2024. Total market time increased to 77 days, with the average home sale price of $557,200, and a median home sale price of $510,800.
So, what does that mean to the buyers and sellers in our market? Director of Sales, Mark Hall, weighs in, “It means that even with interest rates hovering in the mid 7% range, our market is still strong and balancing out. Prices are stabilizing and the homes that are priced correctly are selling quickly. For buyers, the increasing inventory will give them a better chance at getting into a new home and I anticipate that the inventory will continue to rise as we move towards the summer months.”
“The summer is just around the corner and as a buyer or seller, you don’t want to be late to the game. If you are thinking about buying or selling, you need to start today so you are ready to take advantage of the upcoming market.”
For more information or to discuss your plans to buy or sell a home in Clark County, Washington, contact our team today!
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Wow, it’s fascinating to see how the real estate market in Clark County has been shaping up! With more listings popping up and pending sales on the rise, it seems like there’s quite a buzz in the air. Mark Hall’s insights about the market balancing out and prices stabilizing are reassuring, especially for both buyers and sellers. I wonder how these trends will continue as we head into the summer months. Have any locals noticed these changes in the housing market recently?