Real Estate Market Report for Washington: December 2022
The numbers are in for the final month of 2022! Understanding real estate pricing trends, average time on the market, and the number of available homes can help you predict when to buy, list a property, or wait a little longer.
So, as many look to 2023 for a long-awaited opportunity to purchase affordable real estate, let's review how popular Washington counties finished out the year.
Seller's Market Zones
Lewis County
- Median selling price: +8.7% YTY
- Available inventory: -12.6% MTM
- Homes sold: -22.9% MTM
- Number of homes selling below asking price: 50%
- Time on the market: +78.7% YTY
Single bedroom prices fell nearly 10% YTY in December, opening up space for first-time home buyers or investors interested in renting property.
Battle Ground
- Median selling price: +13.2% YTY
- Available inventory: -9.8% MTM
- Homes sold: +3.6% MTM
- Number of homes selling around asking price: 55.2%
- Time on the market: +112.2% YTY
The Battle Ground market was cooling for most of fall 2022 but saw a rise in sales in December 2022, pushing it into a seller's market for the New Year.
Neutral Zones
Clark County
- Median selling price: +11.7% YTY
- Available inventory: -7.1% MTM
- Homes sold: -6.1% MTM
- Number of homes selling below asking price: 50%
- Time on the market: +98.2% YTY
Clark County has dropped into a neutral market, making homes more accessible for buyers than they've been in a few years.
Buyer's Market Zones
Pacific County
- Median selling price: +1.4% YTY
- Available inventory: -12.5% MTM
- Homes sold: -38.6% MTM
- Number of homes selling below asking price: 81.5%
- Time on the market: +33.9% YTY
Pacific County slowly cooled during fall 2022, finally settling into a buyer's market to kick off 2023.
Klickitat County
- Median selling price: -7.2% YTY
- Available inventory: -12.4% MTM
- Homes sold: -29.4% MTM
- Number of homes selling below asking price: 66.7%
- Time on the market: -5.2% YTY
The average sales time for homes in Klickitat County fell in December 2022 to just 51 days or about half the time from earlier in the fall.
Skamania County
- Median selling price: +5.1% YTY
- Available inventory: -17.1% MTM
- Homes sold: Unavailable for December 2022
- Number of homes selling below asking price: Unavailable for December 2022
- Time on the market: +18.3% YTY
Skamania County has experienced a relatively slow real estate market, with no completed home sales in December 2022.
Looking to Buy Real Estate in Washington?
The national real estate market is moving with higher interest and inflation. So it's never been more critical to have qualified, knowledgeable real estate agents on your side.
At UCNW, we pride ourselves in our local expertise, guiding our clients to the perfect location and price. So contact us today to get started on your home purchase or sale!