Home prices and sales increase despite low inventory

NWMLS Market Update / January 2024

Real estate market activity has remained slow in accordance with typical seasonal patterns. Interest rates held steady through the month of January to end at 6.69%. For the Washington counties covered by the NWMLS, 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, which was a decrease of 11%.

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). Watch the videos below to see the statistics broken down for King and Snohomish County.

Snohomish County

King County

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