Shoreline real estate statistics

February's real estate market maintained a sluggish pace, consistent with our typical winter trends. 

Real estate brokers are anticipating increase in activity as we transition from winter to spring. 

Over the last month, interest rates have risen by a quarter percent to 6.94%, posing constraints on the purchasing capacity of prospective buyers and impacting the willingness of potential sellers to relinquish low-rate mortgages. 

Within Shoreline, February 2024 witnessed an approximate 29% decline in year-over-year closed residential sales. 

Nevertheless, median prices have demonstrated resilience, registering a nearly 7% year-over-year increase.

--Lella Norberg