Hawkins-Poe Monthly Newsletter May 2024

The spring real estate market is in full swing. Brokers are reporting a flurry of activity as buyers
eagerly explore open houses under the warm sunshine. Sellers are capitalizing on the season, listing
their homes amidst blooming flowers and optimal curb appeal. Encouragingly, active listings have
surged by 20.9% across all NWMLS counties compared to last April, offering more choices to prospective
buyers.

Despite lingering high interest rates, buyer demand remains strong, with only 1.7 months’ worth
of inventory available. Although this marks a 10.4% increase from April 2023, it still falls short of
achieving a balanced market. The persistent supply shortage has kept prices steady, with the NWMLS
reporting average sales price hikes in 23 of the 26 counties compared to the previous year.

As May unfolds, the real estate market anticipates heightened activity and a slew of community
events on the horizon.

Buyers and sellers can expect a vibrant market as spring blossoms into full swing.

Maritime Gig Festival
Gig Harbor Waterfront
June 1st, 10am – Noon
Enjoy live music, vendor booths, and the Maritime Parade along the Gig Harbor historic waterfront.
For more information visit: gigharborchamber.net/maritime-gig-festival

Duck Daze Parade
The Village at Chambers Bay
June 1st, 10am
Check out the annual Duck Daze parade, followed by food trucks and music at the Village at
Chambers Bay.
For more information visit: cityofup.com/132/events

The average sales price in Pierce
County gained 8.6% from April
2023 to April 2024.

The number of new residential
homes for sale in Kitsap County
increased 19.1% year-over-year.

The days on the market in King County
went from 22 in April 2023 to 16 in April
2024.