Realogics Sotheby’s International Realty has published the third quarter market trends for 2019. This is valuable news you can use! These key insights shed light on unique markets in our region. Below, I’ve highlighted the trends for Eastside single-family homes, but for the full report, please visit RSIR.
Eastside Quarterly Market Update
Home prices on the Eastside remained relatively unchanged from the third quarter of 2018 to the third quarter of 2019, at $890,000 and $885,000, respectively. September was a particularly notable month for single-family home sales on the Eastside, with a spike in median sales price from $860,000 in 2018 to $869,000 in 2019. The number of homes for sale on the Eastside decreased by over 20% from Q3-2018 to Q3-2019: from 1,398 to 1,103, affording buyers fewer options than they saw in previous quarters this year.
Despite less homes offered for sale, buyers benefitted from a healthy supply of inventory (at 2.5 months) and didn’t feel the pressure to make a quick decision, as it took an average of about 5 weeks for a home to sell.
