Hawkins-Poe Monthly Newsletter September 2024

The housing market saw a significant shift, with available inventory rising by 34.1% for August of
2024 compared to August of 2023. This is a positive shift for buyers faced with limited options over
the past few years.

This is still just 2.3 months’ worth of inventory, not quite a buyer’s market, but a vast improvement
compared to .70 months of inventory in August of 2021.

On the pricing front, the median sold price increased for the entire MLS to $645,000 up from
$615,000 (a 4.9% gain) from August 2023. This steady price appreciation shows signs of stabilization
with inventory and pricing moving in tandem.

Many potential buyers are waiting on the sidelines for more favorable interest rates. However, with
discussions of rate improvements on the horizon, we expect buyers to re-enter the housing market,
leading to a more steady and active market as we move into the fall season.

Trick or Treat
October 31st 3–6 pm, Gig Harbor Waterfront
Harborview Drive will be closed from Pioneer Way to Rosedale. Join us for trick-or-treating at
businesses along the downtown waterfront.
For more information visit: Trick or Treat

Oktoberfest Northwest
October 4th – 6th Washington State Fairgrounds, Puyallup
Enjoy traditional Oktoberfest music and dance, authentic German food and a large variety of
German beer poured in steins. For more information and to get tickets visit:
Oktoberfest

Pierce County Average Sales Price
increased to $661,975

Kitsap County Average Days on
the Market increased to 30.

King County Average Sales Price decreased
to $1,234,245