March real estate statistics

The Shoreline real estate market showed remarkable activity in March, with sales more than doubling compared to previous months, illustrating a vibrant spring season. The median home price surged by 24%, reaching $960,000, while the average price per square foot rose by 12% to $558. Despite a steady number of homes sold—43 compared to 44 last year—the significant increase in prices underscores strong buyer demand. However, homes are taking longer to sell, with the average days on market increasing by 37% to 27 days. This shift suggests that buyers may be exercising more caution and selectivity due to the rising costs, emphasizing the importance of effective pricing strategies.

The data points to a more competitive and active real estate landscape, where presentation and pricing matter significantly. As spring unfolds, these trends highlight the dynamic nature of the Shoreline market, which continues to adapt to changing buyer behaviors. Sellers are advised to stay informed and agile to navigate this evolving environment successfully.