The Blog ofWashington First

Washington January Market Activity

Below is an excerpt from the Regional Multiple Listing Service’s most recent “Market Action” report that comes out monthly and is e-mailed to all member Realtors. This is data specific to the Southwest Washington Area market.

 

January Residential Highlights

There were 736 new listings in January 2020, a 14.4% decrease from January 2019 (860) and 75.2% more than last month in December 2019 (420).

Pending sales (672) increased 7.0% from January 2019 (628) and rose 26.8% from last month December 2019 when 530 offers were accepted.

Closed sales, at 491, increased 3.6% from January 2019 (474) and decreased 28.8% from the 690 closings recorded last month in December 2019.

Average and Median Sale Prices

Comparing January 2020 to January 2019, the average sale price has increased 1.9% from $406,400 to $414,300. In the same comparison, the median sale price has increased 7.6% from $355,000 to $382,000.

Below is a table with data from the RMLS. Note that Appreciation is based on a comparison of the rolling average sale price for the last 12 months with the 12 months prior. Days on Market is the number of days from when a property is listed to when an offer is accepted on that same property. If a property is re-listed within 31 days, DOM continues to accrue; however, it does not include the time that it was off the market: