After serving as our only covered market with a slight gain in median sales price in the first quarter of 2019, the Eastside saw a slight year-over-year decline in prices in the second quarter of 2019, from $930,000 in Q2-2018 to $899,000 in Q2-2019—a 3.3% drop. This came amidst inventory levels that were slightly lower from the first quarter of 2019 (falling from 2.4 to 1.8 months) but were markedly higher than the second quarter of 2018.
The number of homes for sale on the Eastside increased by nearly 30% from Q2-2018 to Q2-2019: from 991 to 1,275, according to buyers more options than they’ve seen in recent years, a contribution to the doubling of the average cumulative days on the market, which hovered just above one month.
Read the full report for market trends in the South Sound here.
