Snoqualmie Ridge 2024 Real Estate Recap
2024 started with the lowest housing inventory levels in the history of the NWMLS and was at the lowest level nationally in 40 years. As a result, the start of the year saw intense competition for limited inventory despite relatively high interest rates. Those factors culminated in a 19.9% price spike for homes that went under contract in late February through early March with closing dates in April. Conversely, as more inventory came on the market price adjusted back down and by June closings were only up 10% from where they started in January. This slowed down the days on market and even caused some homes to go for under asking price. Rounding out the year, Snoqualmie Ridge had a year-end price increase of approximately 8%. The winners were clearly those people who had their homes on the market by the first week of March to the tune of over $200,000!
For 2025, we are starting with the highest inventory levels in 5 years. Factoring the inventory level with interest rates we expect the best time to sell in 2025 to be slightly earlier this year. That places February solidly as the best time to list your home with closing taking place in March to very early April.
Homes For Sale in Snoqualmie Ridge
Cary Porter founded The Cascade Team right here at Snoqualmie Ridge!
Working alongside his son Keenan Porter, Cary is there to provide exceptional market insight and information valuable to both Sellers and Buyers. Keenan Porter and his wife and son live right here at Snoqualmie Ridge and can be your local expert neighborhood guide to real estate, restaurants, local parks, shopping and more! Call Keenan directly at 425-518-9094
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