JANUARY 2024

REAL ESTATE NEWSLETTER

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2024 Real Estate Predictions and December 2023 Recap

January 2024 Real Estate Recap - The Good, The Bad, and The Ugly

December 2023 was a Seller's market!

•  There were 13.9% fewer homes sold this year than last year, and 13% fewer homes sold this month than last.

•  There were 5.4% fewer homes under contract (meaning the buyer and seller agreed on a price, but the sale is not final yet) this month, but 9% more homes under contract this year than last year.

•  There were enough homes for sale to last for 2.1 months, based on how many homes were sold. This was 4.5% less than last year.

•  The average price of homes sold per square foot (meaning the size of the home) was 1.6% less this month than last month, but 7.2% more this year than last year.

•  The middle price of homes sold was 2.9% less this month than last. The average price of homes sold was also 2.7% less this month than last.

•  Based on the last 6 months, the average price and the middle price of homes sold were going down.

•  The average time it took to sell a home was longer this year than last year, by 2.3%.

•  The average percentage of the original asking price that the seller got was 96%, which was 2.1% more than last year.


REAL ESTATE MARKET NEWS

Buying a home became cheaper because the interest rates went down, but finding a home became harder because there were not many homes for sale. Also, home prices went up in most places, and they will keep going up in 2024.
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REAL ESTATE TIPS

4 Possible Causes of a Broken Water Heater and What to Do About It
How to Check for Mold Before Purchasing a Home

INVESTOR CORNER

Investment Properties

LIST OF VETTED CONTRACTORS 

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EVENTS AND HIGHLIGHTS OF JANUARY

Wine and Watercolors
Explore the Outdoors Family Fair

If you have any questions or comments you would like answered in next month's newsletter, email me at [email protected] and they will be included in the next market update.

OR if you would like more information on our unique systems and programs, call us at 425-236-6777 or visit our website www.GeorgeMoorhead.com

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