2024 Market Report
Overall Sales Volume By Area
2023 VS. 2024
2024 Real Estate MARKET REPORT
Overall Sales Volume By Category
2023 VS. 2024
$50M
$45M
$40M
$35M
$30M
$25M
$20M
On behalf of our team of local and dedicated brokers at Windermere Real Estate/Methow Valley, we are pleased to present you with the 2024 year-end market report. Our data is compiled from the NW Multiple Listing Service and provides a comprehensive overview and deeper insight into the trends of the Methow Valley real estate market.
Overall Market
The overall market includes all home, vacant land, farm & ranch, condo, and commercial transactions. Overall sales dollar volume increased by 14% over last year, finishing at $85.3M, which is still well below the volume of the last three years. This increase indicates that buyers and sellers feel less uncertainty and are getting more comfortable with the normalizing market.
Looking Ahead
Heading into 2025, there are 43 active listings valley wide, similar to the inventory at the beginning of 2022 and down respectively from the 67 active listings at this time last year. We expect the 2025 housing market to reflect a gradual settling into a new normal after several abnormal years. Windermere’s Principle Economist, Jeff Tucker, predicts slightly lower interest rates around 6.5%, existing home sales will pick up, and home prices will not fall.
2024 YEAR-END
Single Family Homes
Vacant Land
Sales Volume By Area
2023 VS. 2024
2023
NOW, MORE THAN EVER, THE EXPERTISE OF A REAL ESTATE PROFESSIONAL MATTERS IN THE SALE OF YOUR HOME.
Single Family Homes
The number of homes sold in 2024 increased by 30%, for a total of 107 sales. However, the average price of a singlefamily home decreased, just like the previous year, by 4.5% to $687,240. Single family homes sold at an average of 98.2% of what the home was listed for. The average days it to took to sell a home was 69 days.
Vacant Land
Vacant land continues to be even scarcer, landing at 15 properties available for sale, compared to 32 last year. Average days on market to sell land in 2024 was 93 days. The average sales price was $214,991, which equates to properties selling within an average of 95% compared to their list price. The majority of sales occurred in the $100K-$200K price range, representing 43% of total sales, while the $200K-$300K price range came in second at 23% of the vacant land market share.
We hope this report has given you a snapshot of market trends and as always, we would be glad to discuss the details with you. If you are scouting a professional REALTOR to represent you in your next real estate transaction, or a comprehensive market analysis of your property, please call us. Our knowledge of the valley and the market make us your Local Real Estate Experts.
MAZAMA WINTHROP TWISP CARLTON METHOW
313 E. Hwy 20, Box 1088
Twisp, WA 98856
509-997-6562
methowinfo@windermere.com
WindermereMethow.com
42 Lost River Rd.
Mazama, WA 98833
509-996-6562
WHY LIST WITH US?
Value For the Seller
Our extensive market knowledge will help you price your property appropriately in this ever-changing market, ensuring you sell your property in a timely manner for the highest possible price. Respecting the unique characteristics of each and every property, we believe that every listing requires a different marketing strategy. We will develop a customized plan for you; market updates, showings, open houses and unique marketing materials. We are skillful negotiators and will work to make the entire process, from start to finish, as streamlined as possible. We will live up to your high expectations!
Services Delivering Results
• We will provide you with the most accurate, in-depth data in the Methow Valley markets.
· Your property will have the most extensive online presence offered.
· We offer the most elegant and premier marketing materials available.
· We will expose your home to our extensive list of current and former buyers.
· We know what is valued in property and will advise you accordingly.
With an emphasis on service to our clients and community, our core values of relationships, collaboration, and professionalism remain central to how we do business.
