Realogics Sotheby's International Realty has published the third quarter market trends for 2019 from around the sound. From the shores of Bainbridge Island's waterfront homes and in-city living opportunities to the Eastside's most distinguished residences, these are key market insights you don't want to miss!
CONDOS | SEATTLE
The higher levels of inventory in the Seattle condominium market that we reported in the first and second quarters of 2019 continued into the third, with 3.6 months of inventory. This indicates neutral market conditions for buyers and sellers, which have not been felt in the market’s recent past. With more options, homebuyers continued to take time before making a purchase, as condominiums spent an average of about six weeks on the market.
Buyers truly came off the sidelines as summer turned to autumn, with the number of home sales up by nearly eight percent (from 1,531 to 1,653). Inventory conditions were nearly identical on a year-over-year basis with roughly 1,050 homes for sale and 2.3 months of inventory.
Home prices on the Eastside remained relatively unchanged from the third quarter of 2018 to the third quarter of 2019, at $890,000 and $885,000, respectively. September was a particularly notable month for single-family homes sales on the Eastside, with a spike in median sales price from $860,000 in 2018 to $869,000 in 2019