In June 2024, there were 836 new listings in Southwest Washington, which is a 4.6% decrease from the 876 listed in June 2023, and a decrease of 11.3% from the 943 listed in May 2024.
652 pending sales last month show a 2.0% increase from the 639 offers accepted in June 2023, and a decrease of 0.5% from the 655 offers accepted the previous month in May 2024.
Closed sale count of 553 this past June was an increase of 3.2% from the 536 closings last year in June 2023, and a decrease of 0.5% from the 556 closings last month in May 2024.
Inventory increased to 2.8 months in June 2024. Total market time decreased to 42 days, with the average home sale price of $617,200, and a median home sale price of $535,000.
Looking back we see that for the 5th consecutive month, the number of closed sales has increased. In the last couple of months, pending sales have also risen, while the average time properties sit on the market has dropped. So, what does that mean to the sellers and buyers in our market today?
Real Estate Broker Megan Storie, weighs in, “The listings that I have taken have all gone under contract at terms that the sellers have been very excited about. And, my buyers that have been searching for months are finally finding homes. I’ve been able to negotiate terms that weren’t available in months past, because of the increase in inventory that we are seeing now. I’m optimistic for the inventory that’s going to be coming on the market in July and August. I think it’s going to help a lot of my buyers get into the perfect properties for their families.”
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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The Clark County real estate market continues to evolve, and it’s fascinating to see how much it has grown over the past few years. Home prices are definitely on the rise, and as a local, I’m curious about what that means for affordability. Are there any initiatives in place to keep housing accessible to first-time buyers or those on a budget? With so many new developments popping up, I hope the county finds a way to balance growth with affordability. Anyone else feeling the pinch in the market?