Hawkins-Poe Monthly Newsletter July 2024

In June 2024, the Northwest Multiple Listing Service (NWMLS) reported a significant 35.7% increase
in active listings compared to June 2023. This influx of inventory has contributed to a more stabilized
housing market. The median sales price for homes and condos sold in the NWMLS region rose by a
modest 4% year-over-year, indicating a slowdown in price appreciation from previous years.

Despite the overall increase in listings, several counties, including Snohomish, Thurston, Kitsap, King
and Pierce, continue to experience a shortage of available homes. This disparity in inventory levels
suggests that while the market is stabilizing, certain areas remain highly competitive. The added
inventory should provide more options for buyers, potentially easing some of the pressure on home
prices.

For sellers, this likely means an increase in the days your home is on the market, so be prepared for a
longer transaction timeline. Overall, the market shows signs of balancing for both buyers and sellers.

Lee’s SUP Day Camp
8829 N Harborview Drive Gig Harbor
9 am - 2 pm Monday – Thursday in August
SUP and Kayak Day Camp in the protected waterways of Gig Harbor. Kids ages 8 – 14 are welcome!
Sign up at: leessup1.com

Brew Five Three Beer and Music Festival
Chambers Creek Regional Park
August 10th - 12 – 5 pm
Live entertainment, local brewers, and local bites! 21+ event.
Purchase tickets and find out more information at: tacomaartslive.org

Pierce County’s average sales price
decreased to $630,002 for June.

The average sales price increased
to $718,480 for Kitsap County in
June.

The number of active listings on the
market increased by 40% in King County
compared to last June.