Real estate market ‘heating up as predicted’

Cano Real Estate Broker Destiney Evans offers an analysis of the Southwest Washington real estate market.
Cano Real Estate Broker Destiney Evans offers an analysis of the Southwest Washington real estate market.

Cano Real Estate Broker Destiney Evans offers an analysis of the Southwest Washington real estate market

Ken Vance, editor
Clark County Today

Cano Real Estate Broker Destiney Evans weighed in on the latest market action report this week. In January, there were 547 new listings in Southwest Washington, a 74.8 percent increase over December 2023.

“Hello 2024!,’’ Evans exclaimed with enthusiasm. “As we’re entering the early spring season (brought to us by our very own Punxsutawney Phil) the market is heating up as predicted. The buyers and sellers that have put their home shopping and selling on pause these last few months have arrived.

“Pending sales from the last two weeks have increased by 5 percent and the number of new listings is already up 28 percent,’’ Evans stated. “I think these numbers are a strong indicator of how the market is going to look leading us through spring and into the summer. With interest rates still around 6.5-7 percent, sellers are continuing to offer buyers the opportunity towards rate buy downs and even some concessions.’’

According to the Regional Multiple Listing Service January report, the 547 new listings in January 2024 represented a 2.2 percent increase over January 2023. The 445 pending sales last month show a 12.7 percent decrease from the 510 offers accepted in January 2023, and an increase of 16.5 percent from the 382 offers accepted the previous month in December 2023.

The closed sale count of 309 this past January was a decrease of 2.5 percent from the 317 closings last year in January 2023, and a decrease of 18.9 percent from the 381 closings last month in December 2023.

Inventory increased to 3.2 months in January 2024. Total market time also increased to 64 days, with the average home sale price of $570,200, and a median home sale price of $510,800.

“I’m proud to say that Cano Real Estate was the No. 1 team in Clark County in 2023, and we are continuing to go above and beyond to ensure our clients have the best experience when buying or selling a home in our beautiful community,” Evans said.

For more information, contact Destiney Evans at Cano Real Estate by phone (504) 218-9861 or email destiney@canorealestate.com, or visit destiney.canorealestate.com


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