Northeast Washington Market January 2023
After the sharp decline in the 4th quarter of 2022, the Northeast Washington Market January 2023 statistics are disappointing but not surprising. Perhaps the most concerning is the low number of new listings shown on the Year over Year Comparison for January 2022 to January 2023 and the Yearly comparison for January from 2005 to 2023.
The Northeast Washington Market January 2023 Year over Year Comparison also shows we only have 66 Currently Active Residential listings on the day the search was run. The number of listings active at some time during January was 114. As a comparison, January 2020 had 170 active listings, and January 2019 had 238 active listings throughout January. 19 Properties were closed, also called sold in some reports, during January. These 19 properties received an acceptable offer and were put “under contract” in the final quarter of 2022. January 2023 saw 35 properties placed under contract. These 35 properties will be recorded as sold in the next 30 to 120 or more days.
Our summary statistics provide the same information as the tables above, but they also include information on canceled, withdrawn, expired listings, and listings that came back on the market.
Market activity remains at the upper end of the Northeast Washington Market January 2023. In the past, our residential property’s most active price range was from $175,000 to $275,000. Our January Price Range Statistic chart shows our most active price range between $225,000 and $999,999. Most under-contract and sold listings are between $225,000 and $750,000.
Below is the Price Range Report for January 2023, which shows the price range of the sold and closed single-family and condo listings, active listings, and pending sales. Toward the bottom of the Price Range Report is the type of financing used for the closed sales. The information is the same as the Price Range Statistics chart with a little more information.
Northeast Washington Market January 2023 inventory remains low so prices are remaining high, which is good for the Seller. But the high prices, high-interest rates, and high inflation seem to have Buyers on hold, waiting to see if interest rates will come down as several experts are predicting.