February 2025 Update
We're off to a strong start in 2025! This year is shaping up to be an exciting one for real estate, so get ready!
January is typically a slower month, but this year already shows a different trend than the start of 2024. Inventory is finally picking up as brokers bring new listings to the market. The NWMLS added 6,693 new listings in January 2025—a 35.1% increase from January 2024.
But it's not just inventory on the rise—home sales are climbing, too. Residential properties sold in January 2025 increased by 10.2% compared to January last year. Home prices are also trending upward, with the median price for residential homes and condominiums rising 3.6% compared to 2024.
With this momentum, we’re heading into the year with strong activity. If this trajectory continues, we can expect a bustling spring market ahead!
The big question for 2025 will be affordability. While inventory and sales are increasing, many buyers are still navigating high home prices and interest rates. The balancing of the market will be a key factor in shaping the year ahead.