Hawkins-Poe Monthly Newsletter February 2024

The real estate market in January 2024 remained relatively subdued, typical of the seasonal slowdown
during this period. However, there were a few notable trends worth mentioning. Closed sales experienced
a modest uptick of 3% compared to the same month last year. Despite this, the median price
for residential homes in the NWMLS exhibited a substantial increase of 6.5% year-over-year, reflecting
persistent demand and limited supply.

The number of active homes on the market continued its downward trajectory across Washington
state, with 15 out of 26 counties witnessing a decrease compared to last year. January 2024 saw a
significant decline in active listings (14%) compared to January 2023.

Looking ahead, there is optimism that the spring season may bring relief to buyers as inventory is
anticipated to increase. However, the market is likely to remain competitive, underscoring the importance
of strategic planning for both buyers and sellers.

Shamrock’n the Harbor
Cushman Trail, Gig Harbor
Saturday, March 16
Run or walk the 5K or 12K out and back along the Cushman Trail. Children 5 and under are
free!

For more information visit: gghf.redpodium.com/shamrockn-the-harbor-2024

Irish Festival at Freighthouse Square
Freighthouse Square Rainier Room, Tacoma
Saturday, March 15, 10am – 5 pm
Over 40 vendors, beer garden, leprechaun photos, Irish sweet treats, and entertainment. For
more information visit: nwpb.org/event/irish-fest

The average sales price for Pierce
County decreased by $25,224 in
January compared to December
2023

The days on the market increased
in Pierce, Kitsap, and King County,
the highest being Kitsap, which
increased by 16 days.

New listings on the market increased in
King County, up 5.4% year-over-year.