Realogics Sotheby’s International Realty just released the Q1 market report for 2019. This report has key data from the Seattle condo market to Eastside living.
SEATTLE | SINGLE-FAMILY HOMES
Though the median sales price declined by just over 7% from the first quarter of 2018 to the first quarter of 2019, the average price per square foot held relatively steady. The number of homes sold likewise remained largely unchanged, falling by just 3.76%.
Unlike other local markets, the median sales price on the Eastside increased slightly—by 1.7%—from the first quarter of 2018 to the first quarter of 2019. This gain came amidst higher inventory levels than the Eastside saw in all of 2018, at 2.4 months.
Sustained higher levels of inventory in the Seattle condominium market continued through the first quarter of 2019, which reported 2.8 months of inventory. The influx of options for condominium buyers has contributed to less home sales and lengthier market times, which reached just over two months in the first quarter of 2019, a markedly higher figure than the preceding two years.