Northeast Washington Market Statistics February 2023 shows the real estate market is down compared to February 2022.
As of 3/27/2023 at 6:15 PM, 102 active Residential Listings and 119 active Land Listing are in the Northeast Washington Multiple Listing Service.
The Average List Price for February 2023 was $344,950 compared to $523,147 in February 2022, a 10.93 percent decline.
The Median List Price for February 2023 was $379,450 compared to $397,000 in February 2022, a 4.42 percent decline.
The Average Sale Price for February 2023 was $335,197 compared to $355,175 in February 2022, a 5.62 percent decline.
The Median Sale Price for February 2023 was $252,600 compared to $320,000 in February 2022, a 21.06 percent decline.
As noted in the Summary Statistics Table below, our year-to-date numbers continue to show declines in these metrics through March 27th, 2023.
Additional notable metrics follow below, starting with the time spent on the market.
The months of inventory. That is the amount of time it would take at the present rate of sales, with no new listings coming on the market, to deplete the current inventory.
Price Trends are the trend everyone wants to see.
When prices had to be lowered to attract buyers, the sale-to-list and sale-to-original list price ratios were.
The number of listings, the inventory available for sale, new, pending, and sold.
An initial look at March statistics did not indicate the market was improving. But since we still have snow on the ground, that is expected. Usually, the snow is gone by this time of year, so the market picks up. Since the snow is slowly leaving, we expect a slow start to the listing season this year.
