As we begin the new year, it’s an excellent time to reflect on the latest real estate market trends in King, Pierce, and Snohomish counties. Despite shifts in the broader economy, the local housing market has shown resilience and opportunities for both buyers and sellers.
King County: Stability in the Heart of the Market
King County continues to be the centerpiece of the Puget Sound region’s real estate activity. In December 2024, the county saw a slight uptick in new listings and closed sales compared to the previous year. Median home prices remain steady, signaling a balanced market with consistent demand. Buyers are still looking for quality properties, and homes that are priced well continue to sell quickly.
Pierce County: Affordability Meets Demand
Pierce County has maintained its appeal as a more affordable alternative to King County. December 2024 brought moderate growth in both new listings and sales activity, with a healthy increase in median home prices. First-time buyers and investors continue to drive demand in this area, attracted by the mix of suburban charm and proximity to major employment hubs.
Snohomish County: A Significant Surge
Snohomish County’s real estate market has seen remarkable growth in December 2024, especially when compared to the same time last year:
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New Listings: 463 new homes came to market, up from 385 in December 2023.
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Closed Sales: A total of 723 homes closed, a notable increase from 627 the previous year.
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Median Sales Price: The median sales price reached $775,000 in December 2024, a dramatic rise from $550,000 in December 2023.
This surge highlights Snohomish County as a dynamic market with growing appeal. The area’s combination of urban amenities, outdoor lifestyle, and relative affordability compared to King County continues to attract buyers.
Market Trends and Observations
Across the Puget Sound region, housing inventory remains tight, but the increase in new listings in Snohomish County provides a silver lining for buyers. Closed sales in all three counties show that demand remains strong, even with evolving interest rates and economic factors. Sellers are benefiting from rising home values, making it an opportune time to list properties.
What This Means for Buyers and Sellers
For buyers, the increase in new listings in Snohomish County offers more opportunities, but the rising prices emphasize the need for swift decision-making. Partnering with a knowledgeable real estate agent, like Kim Pelham and The Pelham Group Northwest, ensures buyers can navigate this competitive market effectively.
For sellers, the upward trend in closed sales and median home prices in Snohomish County presents an excellent opportunity. Properly marketing and pricing homes can lead to quick and profitable transactions.
Looking Ahead
The real estate market in King, Pierce, and Snohomish counties is poised for continued activity in 2025. With changing dynamics and ongoing demand, having the right guidance is essential. At The Pelham Group Northwest, we’re here to provide expert insights and support for all your real estate needs.
Contact us today to discuss your goals and how we can help you succeed in this dynamic Puget Sound housing market!
Katrina Eileen Brokerage | 