Further increases in interest rates continue to influence the expected seasonal slow-down during fall and winter months:

Most counties covered by NWMLS (24 of 26) saw a decrease in the number of homes sold with an average decline of 18%.  The median price of homes sold declined in 11 out of 26 counties, increased in 14, and remained virtually unchanged* in one county relative to October 2022. (*Unchanged = less than 0.5 percent change in median price)

The three counties with the highest median priced homes sold were San Juan County ($1,150,000), King County ($800,000) and Snohomish County ($700,322); the three counties with the lowest median priced homes sold were Grays Harbor ($325,000), Ferry ($177,500), and Columbia ($110,000).

The volume of homes on the market has continued to decline throughout Washington with 20 out of 26 counties seeing a year over year decrease in the number of homes on the market. When compared to the same month last year, October 2023 experienced a 20% decrease in active property listings on the market in Washington counties covered by the NWMLS.

Contact me for more details, or watch the 1.25 minute market report video…

Source: NWMLS 11/6/2023