Shoreline Real Estate Market Update: December 2024
As 2024 comes to a close, the Shoreline real estate market remains robust, demonstrating steady activity despite the seasonal slowdown. Here's an in-depth review of the December market performance, highlighting key metrics and emerging trends.
Market Highlights for December 2024
Active Listings: The market had 42 active listings, with an average list price of $1,052,478. Properties ranged from a low of $499,950 to a high of $3,100,000.
Pending Sales: December saw 14 properties move to pending status, with an average pending price of $823,085 and a high of $1,649,000.
Sold Properties: A total of 47 properties closed during December, averaging a sale price of $819,336. Sale prices ranged from $595,000 to a high of $1,825,000.
Price Trends
The average price per square foot for sold properties was $460.67, reflecting the premium value of real estate in Shoreline. Smaller homes in desirable neighborhoods often commanded higher per-square-foot prices, showcasing the continued demand for location-centric properties.
Key Observations
Demand Remains High: Despite the holiday season, homes in Shoreline continued to attract buyers, with several properties going under contract within days of being listed.
Diverse Inventory: Active listings showcased a mix of new builds, mid-century homes, and high-end luxury properties, appealing to a wide range of buyers.
Strong Closing Performance: Properties continued to close close to their original list prices, reflecting competitive bidding in key market segments.
Looking Ahead to 2025
As we head into the new year, Shoreline real estate is expected to remain competitive. With a median active listing price holding steady and buyer interest showing no signs of waning, now is the time to plan your next move in the market.
Need Help Navigating the Market? Whether you're buying, selling, or investing, let us guide you through the process with expert insights and personalized advice. Contact us today to discuss your real estate goals for 2025.
Information Deemed Reliable But Cannot Be Guaranteed. Source: NWMLS, Shoreline, WA Residential homes only.
