September 2024: The latest NWMLS data shows home sellers in Western Washington are adjusting expectations, with list prices down from peak levels in all but one market. As a result, sale price growth is also slowing, although prices remain up year-over-year.

The Federal Reserve's decision to lower interest rates in September certainly energized the market, creating a positive end-of-summer environment. This dynamic indicates a potential shift towards a more balanced market, where both buyers and sellers can find common ground.

New Listings:  We saw a decrease in homes coming on the market in Stanwood, with only 21 new listings as compared to 35 at the same time last year. The Camano Island market increased slightly month-over-month, with 45 new listings added in September.

Active Listings: Our active listings are roughly the same as the prior month, with a combined 142 homes available for sale at the end of the month. However, year-over-year, we are up 23% for September.

Pending Listings:   Homes that found buyers and went pending in September 2024 remain consistent at 54 listings for the month.

Sale Price: The average sales ticked down slightly month-over-month. However, we are up over 13% from September of last year, and prices are predicted to continue increasing as lower interest rates drive more demand.