Market Trends From Around The Sound: Q4-2024
Realogics Sotheby’s International Realty is proud to present the Market Trends From Around the Sound report, examining insightful data from 2024’s fourth quarter. The data collected for 13 of the region’s communities reveals price growth in many areas and seller’s markets in most of the areas analyzed. The fourth quarter is typically a slower period for real estate activity, with many sellers and buyers deferring their plans to enjoy the holiday season and prepare to hit the ground running in the new year. However, the report reveals that many buyers were motivated to make their purchases during the fourth quarter, rather than waiting for 2025 or the historically busy spring selling season.
We invite you to explore the report’s findings and reach out to a trusted RSIR Global Real Estate Advisor with any questions or if you’re feeling inspired to begin your own real estate journey.
Bainbridge Island | Single-Family Homes
Buyers were motivated to make their move before the end of the year, and they were rewarded with lower prices than seen in the previous year. Bainbridge Island’s median sales price decreased 9.28% from $1,433,000 in Q4-2023 to $1,300,000 in Q4-2024.
Cle Elum | Single-Family Homes
Inventory in this area moves significantly slower than in neighboring cities to the west with homes sitting on the market for an average of 95 days (up from 80 days in Q4-2023).
Eastside | Single-Family Homes
More homes were listed for sale, spiking 17.38% from 265 homes to 311 homes. The growth did not stop there, with the median sales price increasing from $1,370,000 to $1,485,000.
Eastside | Condominiums
The most notable year-over-year change in the Eastside condominium market was between the number of homes sold in Q4-2023 and Q4-2024, increasing 41.12% from 304 to 429 condominiums.
Gig Harbor | Single-Family Homes
Buyers were motivated in their home searches as evidenced by the notable 55.38% year-over-year increase in homes sold.
Island County | Single-Family Homes
With 2.2 months of inventory, just slightly more than Q4-2023’s 2 months of inventory, it was considered a seller’s market.
King County | Single-Family Homes
The average days on market has not experienced significant change in the past three years’ final quarters—with an average of 34 days in Q4-2024.
Kitsap County | Single-Family Homes
(Excluding Bainbridge Island)
The largest year-over-year difference observed in our reporting was found in homes sold, increasing by 17.18% from 716 homes to 839 homes, indicating a boost in buyer activity.
Mercer Island | Single-Family Homes
There were just 50 homes sold in 2024’s fourth quarter, but that was a 48.65% increase from Q4-2023, indicating that there was a major increase in buyer interest on the island.
Pierce County | Single-Family Homes
Buyers did not feel pressured to make quick purchases as evidenced by the average days on market—43 days in Q4-2024, which is greater than the 34-day average of Q4-2023.
Seattle | Single-Family Homes
Despite the market obstacles of 2024, the Seattle real estate market proves to be resilient even during historically slower quarters.
Seattle | Condominiums
This market did experience slower conditions during 2024’s fourth quarter, with condominiums spending more time on the market than witnessed in previous fourth quarters.
Snohomish County | Single-Family Homes
The county experienced price growth, with a 10.92% year-over-year increase from $705,000 to $782,000 in median sales prices and an 8.85% year-over-year increase from $373 to $406 in average price per square foot.
