Medina, WA January 2025 Housing Market
Medina, WA January 2025 Housing Market

December 2024 was a Seller's market! The number of for sale listings was up 40% from one year earlier and down 41.7% from the previous month. The number of sold listings decreased 25% year over year and increased 50% month over month. The number of under contract listings was down 66.7% compared to previous month. The Months of Inventory based on Closed Sales was 2.3, up 80% from the previous year.

The Average Sold Price per Square Footage was up 22.8% compared to previous month and down 4.4% compared to last year. The Median Sold Price decreased by 15.6% from last month. The Average Sold Price also increased by 11.1% from last month. Based on the 6 month trend, the Average Sold Price trend was "Appreciating" and the Median Sold Price trend was "Neutral".

The Average Days on Market showed a upward trend, an increase of 186.2% compared to previous year. The ratio of Sold Price vs. Original List Price was 93%, an increase of 3.3% compared to previous year.

Video edited on Kapwing


It was a Seller's Market
Property Sales (Sold)
December property sales were 3, down 25% from 4 in December of 2023 and 50% higher than the 2 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 2 units of 40%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was down 41.7% compared to the previous month.

Property Under Contract (Pended)
There was a decrease of 66.7% in the pended properties in December, with 1 properties versus 3 last month. This month's pended property sales were the same as at this time last year.

All reports are published January 2025, based on data available at the end of December 2024, 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 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 December 2024 Average Sold Price per Square Footage of $1,458 was up 22.8% from $1,187 last month and down 4.4% from $1,525 in December of last year.

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

The Days on Market Showed Upward 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 December 2024 was 83, up 591.7% from 12 days last month and up 186.2% from 29 days in December 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 93% was down 4.1% % from last month and up from 3.3% % in December of last year.

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

All reports are published January 2025, based on data available at the end of December 2024, 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 Appreciating*
The Average For Sale Price in December was $12,870,000, down 2.3% from $13,178,000 in December of 2023 and up 19.2% from $10,793,000 last month.

The Average Sold Price was Appreciating*
The Average Sold Price in December was $6,583,000, up 0.7% from $6,535,000 in December of 2023 and up 11.1% from $5,925,000 last month.

The Median Sold Price was Neutral*
The Median Sold Price in December was $5,000,000, down 18.4% from $6,130,000 in December of 2023 and down 15.6% from $5,925,000 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 December 2024 Months of Inventory based on Closed Sales of 2.3 was increased by 80% compared to last year and down 61.7% compared to last month. December 2024 was Seller's market.

Months of Inventory based on Pended Sales
The December 2024 Months of Inventory based on Pended Sales of 7 was increased by 40% compared to last year and up 75% compared to last month. December 2024 was Buyer's market.

All reports are published January 2025, based on data available at the end of December 2024, 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 Seller'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 December 2024 Absorption Rate based on Closed Sales of 42.9 was decreased by 46.4% compared to last year and up 157.2% compared to last month.

Absorption Rate based on Pended Sales
The December 2024 Absorption Rate based on Pended Sales of 14.3 was down 42.8% compared to last month.

All reports are published January 2025, based on data available at the end of December 2024, 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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