Wednesday Update: Seattle’s Eastside Residential Market Update for the week of 12/14/22.
This Eastside Real Estate Market Update encompasses the cities of Bellevue, Bothell, Carnation, Clyde Hill, Duvall, Fall City, Issaquah, Kirkland, Kenmore, Medina, Mercer Island, Newcastle, North Bend, Redmond, Sammamish and Woodinville
THE NUMBERS:
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings continue to drop from last week. 664 vs 726 a 9% decrease. Compared to a year ago this week, listings are up 655%.
Active List Prices peaked this year in the week of 3/9/22 with the median at $2,499,500. As of this week they are at a median price of $1,750,000.
Pending Sales have dropped from last week. 51 vs 53 a 4% decrease. Compared to a year ago this week, pending sales are down 41%.
Pending Sales Prices peaked this year in the week of 3/30/22 with the median at $1,659,500. As of this week, they are now at a median of $1,298,000 which is up from last week where they were at $1,225,000.
Months of Inventory reached their lowest level (favoring a seller) this year in the week of 3/9/22 at 0.16 months of inventory.
Current Months of Inventory dropped this week. It was 3.16 months of inventory last week and is now 3.0 months of inventory.
(Months of Inventory Guide: 2 months or less = Seller Favored, 2-4 months = Balanced Market, 4+ months = Buyer Favored)
As always… If we can help with any questions as you contemplate your real estate moves, let us know! Tony Meier & Team – Windermere
Find us online at:
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Our mission: To empower our client’s decision-making process with data-driven information, perspective and knowledge acquired from 33 years of real estate experience. To handle the process as if our clients are family and negotiate ideal outcomes at every step of the way. To be a valuable resource for our clients and their referrals during the transaction, and in the years that follow.
If we can help you or someone you know, please give us a call!
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