July 2024 Real Estate Market UPDATE Clark County WA

Residential Market Highlights

New Listings

In July 2024, new listings increased to 797, up 3.9% from 767 in July 2023, but down 4.7% from 836 in June 2024.

Pending Sales

Pending sales dropped to 610, a 6.2% decrease from the 650 accepted offers in July 2023 and a 6.4% decrease from 652 in June 2024.

Closed Sales

Closed sales saw a significant rise, reaching 621, which is a 12.7% increase from 551 in July 2023 and a 12.3% increase from 553 in June 2024.

Inventory and Time on Market

Inventory decreased to 2.6 months in July, while the total market time increased to 45 days.

Year-to-Date Summary

Comparing the first seven months of 2024 to the same period in 2023, new listings increased by 9.9% to 5,363, pending sales rose by 1.3% to 3,966, and closed sales went up by 4.7% to 3,595.

Average and Median Sale Prices

Through July 2024, the average sale price increased by 5.0%, from $579,400 to $608,300. The median sale price rose by 1.7%, from $525,000 to $534,000.

This summary provides an overview of the residential market trends, highlighting increases in new and closed listings, as well as rising average and median sale prices.