Shoreline real estate market report for November 2024

Closed sales increased significantly from 29 in November 2023 to 40 in November 2024 but were down substantially from 57 sales last month.

The Median Price was higher in October 2024 ($816,000) and dropped to $780,000 in November 2024. Compared to November 2023 ($799,950), there is a year-over-year decline in median price.

The market slowed down significantly in November 2024, with properties taking longer to sell (43 days) than last month (27 days), in line with our typical seasonal variations.

Price per Square Foot rose significantly from $446 in November 2023 to $514 in October 2024, before dropping to $479 in November 2024. This still reflects a substantial year-over-year increase in value.

Market Dynamics: November 2024 showed a cooling off compared to October but was still more active compared to November 2023.

Pricing Trends: Despite fluctuations in sales volume, the price per square foot has been on a general upward trend from November 2023 to November 2024, indicating a steady appreciation in property values. 

Hopefully, these insights can help in understanding market trends and making informed real estate decisions.

--Lella Norberg, Shoreline Windermere