Sunshine and Brooke: Windermere Real Estate Greenwood

The Eastside residential market didn’t follow a linear path in July. Single-family home prices were up 8% year over year ($1,620,000 vs. $1,500,000 a year ago) and down 1% month over month. Inventory was up 7% year over year but flat compared to June. July saw 8% more closed units than June, but a lower percentage of multiple-offer scenarios.

Last month the Snohomish County median residential sold price dipped 1% from the previous month, landing at $818,419, which was 9% higher than a year ago. The supply of homes held steady compared to June but was up 38% year over year. The market may be moderating a little, with 35% of July closings selling above list price vs. 44% of June closings.

July ended with two months’ available inventory of residential listings in Seattle, a number that represents relative balance in our market. Despite growing residential inventory, however, last month still saw a 8% year-over-year increase in the median sold price of a Seattle single-family home, to $972,500. Let’s connect to see how the late summer market aligns with your real estate goals.

The King County real estate market is still very active. July’s median sold price for a single-family home was $999,000, a jump of 11% over a year ago. Despite residential inventory being 30% higher than it was this time last year, 89% of July sales went under contract within 30 days, and 43% sold above list price.

In Seattle, continued increases in residential sold prices are showing signs of slowing. The median sold price for a Seattle single-family home was $957,000 last month, up just 3% from June 2023, and down 1% from May of this year. This trend is likely caused by a healthy rise in available inventory, which was up 30% month over month and 27% year over year. Let’s chat about what this evolving market means for you.

The median sold price of a King County single-family home decreased by 4% in June, from $1,001,000 in May to $965,000. The trend coincides with a significant increase in available inventory, cutting buyers some slack on pace and offer terms. By the end of June, the number of active listings was up 31% year over year and 12% month over month.

To all of the Amazing Dad’s out there!

The Eastside saw the median sold price of a single-family home rise to $1,699,975 last month, up 17% year over year. Dramatic price growth may be slowing, however, as May ended with 53% more active Eastside listings than it began with. More inventory will benefit buyers previously shut out of the hyper-competitive spring market.

Sold home prices rose again last month on the Eastside, to a median of $1,677,500, up 16% from a year ago. Nearly three-quarters of those sales closed at or above list price, and 9 in 10 properties sold within 30 days, reflecting heavy buyer competition for limited inventory. Let’s connect to see how these trends might impact your real estate goals.

Last month, Snohomish County saw an increase in the median sold price of a single-family home ($799,950), as well as in the percentage of homes selling at or above list price (76%). Low inventory prompted buyers to act fast, with 90% of April’s sold listings on the market for 30 days or less.

Seattle homebuyers continue to compete for the best listings. The median sold price of a single-family home within the city limits was $997,900 last month, up 13% from a year prior, and 68% of residential sales closed at or above list price. Let’s talk about what these market dynamics mean for you as a homebuyer or seller.

The median sold price of a King County single-family home increased to $980,000 last month, up 12% from a year ago. Interest rates continue to rise, yet 70% of the county’s home sales closed at or above list price due to intense buyer competition over slim inventory. Let’s discuss how these trends might influence your real estate goals.