Wednesday Update: Seattle’s Eastside Residential Market Update for the week of 11/23/22. This Eastside 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
I cover some nice improvements for the Seattle’s Eastside Real Estate Market.
Active Listings reached their highest level this year on 7/27/22 at 1189. Active Listings are down from last week. 838 vs 916 a 9% decrease. Compared to a year ago this week, listings are up 593%.
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 $1,699,450.
Pending Sales have rose from last week. 69 vs 63 a 10% increase. Compared to a year ago this week, pending sales are down 34%.
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 $1,250,000 which is down from last week where they were at $1,348,888.
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 3.36 months of inventory last week and is now 2.80 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
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