The Eastside continues to feel the weight of rising inventory. Active listings jumped 92% compared to last June, giving buyers more leverage. As a result, the median price for a single-family home dipped 2% to $1,610,000. Closed sales also slipped 2%. Notably, over half of June’s homes sold below list price or after a price reduction – an indication that negotiations are playing a bigger role. However, the condo market told a different story: prices rose 22% to $780,000, while listings increased 91%.
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Seattle’s housing market was the most active last month. The median residential sold price jumped 13% year over year to $1,079,950, as demand remained strong despite a 35% increase in listings. Homes moved quickly – 86% sold within 30 days – and competition stayed high, with 39% of properties selling above asking. Pending sales climbed 16%, and closed sales were up 23%. The city’s condo market also gained ground, with median prices up 7% to $589,000 and listings increasing 26%.
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