SW Washington Market Update – December, 2024
New listings (334) increased 6.7% from the 313 listed in December 2023, and decreased 30.8% from the 483 listed in November 2024. Pending sales (439) increased 14.9% from the 382 offers accepted in December 2023, and decreased 11.1% from the 494 offers accepted in November 2024. Closed sales (458) increased 20.2% from the 381 closings in December 2023, and decreased 4.2% from the 478 closings in November 2024.
Inventory decreased to 2.7 months in December. That means if no new homes were to come onto the market, that it would take 2.7 months to sell at the rate at which they are selling. Total market time increased to 72 days.
Comparing the twelve months of 2024 to the same period in 2023, new listings (8,381) increased 9.2%, pending sales (6,465) increased 8.9%, and closed sales (6,273) increased 8.6%.
Comparing 2024 to 2023 through December, the average sale price has increased 4.6% from $584,300 to $611,400.
