January 2015 Seattle-Eastside Real Estate Review

The low number of available homes for sale continues to test the patience of buyers as levels fall even lower, 11-23% lower, than those of last year.

Year-over-year prices rose 8.7% in King County. While every neighborhood follows the beat of its own drum, overall it’s a very solid and manageable rate of appreciation throughout the region. Interestingly, Mercer Island and the Eastside are outpacing the Seattle core by 30% in year over year gain—with Seattle up a modest 6.6% while Mercer Island and the Eastside gained 9.7% and 8.5%, respectively.

One measure of the market, the month’s supply of inventory (the length of time it would take to sell through all available inventory, assuming no new listings came to market), is at record or near-record lows in most areas. Not surprising, due to the shortage of homes for sale, but an indicator of how competitive the market is nonetheless.

It seems everyone wants to own a piece of the Seattle-Eastside real estate market but no one wants to give one up!

 

Click on the reports below for details.

King County

Seattle Metro

Mercer Island

Eastside

1 Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s