The Eastside crossed a notable threshold in September, with 4.1 months of available inventory tipping the market advantage toward buyers. The median residential sold price fell to $1,425,000, down 10% year over year, the steepest decline regionally, though only a modest 1% pullback from August. Active listings were up 49% year over year, closed sales slipped 5% and pending sales dropped 17%, and just 11% of homes sold above asking. Buyers have clear leverage here, and sellers will need to lean harder into pricing and presentation to compete. Eastside condos followed similar trends: the median price fell 18% year over year to $600,000, even as active listings grew 28%.
|
|
|
Seattle posted the region’s strongest rebound in September, with the median residential sold price climbing 4% from August to $960,000, down just 2% year over year. It also held onto the most competitive edge of our four markets: 24% of homes sold above asking and 63% sold within 30 days, both the strongest and fastest figures regionally. Even so, closed sales (-7%) and pending sales (-10%) both fell year over year, a reminder of reduced buyer activity over the summer. The condo market saw the median price rise 1% from a year ago to $530,000 and active listings rose 14%.
|
|
|
