January 2024 Market Recap! 

The real estate market has maintained its expected seasonal pace, with interest rates showing minor fluctuations, moving from 6.69% in January to a slightly lower 6.63% recently. In a positive turn, January 2024 witnessed a 3% increase in home sales across Washington, marking a significant recovery from an 11% decline in December 2023. Home and condo prices have seen a healthy growth, with January's median sale price reaching $593,500, up 6.5% from the previous year. This price increase was noted in 19 out of 26 counties, highlighting a robust demand, especially in King, San Juan, and Snohomish counties, where the highest prices were recorded. Despite a decrease in available homes for sale, which has intensified the market competition, the overall market remains vibrant with a notable 21% surge in condo sales and many counties reporting increased sales, reflecting a resilient and positive real estate environment.