It was a Neutral Market
Property Sales (Sold)
March property sales were 4, down 42.9% from 7 in March of 2024 and 33.3% higher than the 3 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of properties available this month was lower by 2 units of 10%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. The number of current inventory was up 12.5% compared to the previous month.

Property Under Contract (Pended)
There was the same number of pended properties in March, 2 properties. This month's pended property sales were 66.7% lower than at this time last year.

All reports are published April 2025, based on data available at the end of March 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.

The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for March 2025 was 55, up 816.7% from 6 days last month and up 150% from 22 days in March of last year.

The Sold/Original List Price Ratio was Rising**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 99% was the same as last month and up from 4.2% % in March of last year.

* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady 

All reports are published April 2025, based on data available at the end of March 2025, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.

The Average For Sale Price was Depreciating*
The Average For Sale Price in March was $9,566,000, down 10.7% from $10,717,000 in March of 2024 and down 0.8% from $9,646,000 last month.

The Average Sold Price was Neutral*
The Average Sold Price in March was $3,998,000, down 25.2% from $5,347,000 in March of 2024 and up 16% from $3,446,000 last month.

The Median Sold Price was Neutral*
The Median Sold Price in March was $3,250,000, down 18.6% from $3,995,000 in March of 2024 and up 2% from $3,185,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

It was a Neutral Market*

A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.

*Buyer’s market: more than 6 months of inventory
 Seller’s market: less than 3 months of inventory
 Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed Sales
The March 2025 Months of Inventory based on Closed Sales of 4.5 was increased by 56% compared to last year and down 15% compared to last month. March 2025 was Neutral market.

Months of Inventory based on Pended Sales
The March 2025 Months of Inventory based on Pended Sales of 9 was increased by 171% compared to last year and up 12.5% compared to last month. March 2025 was Buyer's market.

It was a Neutral Market*
Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.

*Buyer’s market: 16.67% and below
 Seller’s market: 33.33% and above
Neutral market: 16.67% - 33.33%

Absorption Rate based on Closed Sales
The March 2025 Absorption Rate based on Closed Sales of 22.2 was decreased by 36.6% compared to last year and up 18.1% compared to last month.

Absorption Rate based on Pended Sales
The March 2025 Absorption Rate based on Pended Sales of 11.1 was decreased by 63% compared to last year and down 11.2% compared to last month.