February 2025 was a Seller's market! The number of for sale listings was down 66.7% from one year earlier and down 50% from the previous month. The number of sold listings decreased 100% year over year and decreased 100% month over month. The number of under contract listings was 1. The Months of Inventory based on Closed Sales was 1, down 66.7% from the previous year.
The Average Sold Price per Square Footage was down 100% compared to previous month and down 100% compared to last year. The Median Sold Price decreased by 100% from last month. The Average Sold Price also decreased by 100% from last month. Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Neutral".
The Average Days on Market showed a neutral trend, a decrease of 100% compared to previous year. The ratio of Sold Price vs. Original List Price was 0%, a decrease of 100% compared to previous year.
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It was a Seller's Market
Property Sales (Sold)
February property sales were 0, down 100% from 1 in February of 2024 and 100% lower than the 2 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was lower by 2 units of 66.7%. 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 down 50% compared to the previous month.
Property Under Contract (Pended)
The total number of homes pended in month was 1. This month's pended property sales were the same as at this time last year.
The Average Sold Price per Square Footage was Neutral*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The February 2025 Average Sold Price per Square Footage of $0 was down 100% from $3,087 last month and down 100% from $932 in February of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
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 February 2025 was 0, down 100% from 17 days last month and down 100% from 2 days in February of last year.
The Sold/Original List Price Ratio was Falling**
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 0% was down 100% % from last month and down from 100% % in February of last year.
* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published March 2025, based on data available at the end of February 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 Neutral*
The Average For Sale Price in February was $13,900,000, down 67.6% from $42,908,000 in February of 2024 and up 59% from $8,740,000 last month.
The Average Sold Price was Neutral*
The Average Sold Price in February was $0,000, down 100% from $4,500,000 in February of 2024 and down 100% from $9,075,000 last month.
The Median Sold Price was Neutral*
The Median Sold Price in February was $0,000, down 100% from $4,500,000 in February of 2024 and down 100% from $9,075,000 last month.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
It was a Seller's 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 February 2025 Months of Inventory based on Closed Sales of 1 was decreased by 66.7% compared to last year and the same compared to last month. February 2025 was Seller's market.
Months of Inventory based on Pended Sales
The February 2025 Months of Inventory based on Pended Sales of 1 was decreased by 66.7% compared to last year and down 50% compared to last month. February 2025 was Seller's market.
All reports are published March 2025, based on data available at the end of February 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.
It was a Buyer's 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 February 2025 Absorption Rate based on Closed Sales of 0 was decreased by 99.9% compared to last year and down 100% compared to last month.
Absorption Rate based on Pended Sales
The February 2025 Absorption Rate based on Pended Sales of 100 was and the same compared to last month.
All reports are published March 2025, based on data available at the end of February 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.
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