Our typical late-Fall slowdown continues, with inventory dropping as homes sell or come off the market to wait for the busier 1st quarter. On the Eastside, the median price of a Single Family Residence (SFR) dropped $112k to $1,430,000 – the lowest level since 2023. In the greater Seattle area, the SFR median price dropped $76k to $973,500. Condo prices were more stable. On the Eastside, the median condo price went up a few thousand dollars to $750k. In Seattle it decreased a few thousand dollars to $573,500.
Lower prices combined with favorable interest rates, make December and early January excellent times to buy. (I’ve had great success helping buyers negotiate their dream home purchase this past year and I’d love to do the same for you and yours!) I expect the usual surge in inventory and buyer-interest in the first quarter, so I’m encouraging my sellers to come on the market as early as possible next year.
Need help figuring out how to get the most for your home? I’m happy to come by and help you determine what needs to be done to optimize your return. If a move out of the area is in your future, I can provide you with a referral to a trusted agent anywhere in the nation. I love hearing from you, so send me a text or email if you’d like to discuss the market and/or your real estate needs.
Wishing you a wonderful holiday season!
