Market Trends from Around the Sound: Q3-2018

 
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I am proud to present a look at the housing market trends for the third quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.

Seattle  |  Single-Family Homes

Inventory continues to remain at the center of real estate conversations in Seattle, as the frenetic market of recent years has given way to a more balanced one that reflects typical seasonal trends. In Q3-2018 we saw 2.1 months of inventory, up nearly 75% compared to last quarter (at 1.2 months) and a staggering 156.4% on a yearly basis.

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Eastside  |  Single-Family Homes

Record-breaking home price growth for single-family homes on the Eastside moderated from Q3-2017 to Q3-2018 with a 7.11% gain, a stark difference from last year’s report, which showed a 14.80% increase in median home prices from Q3-2016 to Q3-2017.

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Bainbridge Island  |  Single-Family Homes

Inventory continues to remain at the center of real estate conversations in Seattle, as the frenetic market of recent years has given way to a more balanced once that reflects typical seasonal trends. In Q3-2018 we saw 2.1 months of inventory, up nearly 75% compared to last quarter (at 1.2 months) and a staggering 156.4% on a yearly basis.

View report >>

 Seattle  |  Condominiums

As was the case in Seattle’s single-family market, the number of homes available for sale is dominating real estate discussions, as the condominium market in Seattle saw 2.7 months of inventory in the third quarter of 2018, the highest number reported since the third quarter of 2012, when we nearly reached a balanced market at 2.9 months. Since that time, inventory has continued to dip, maintaining numbers well below 1 month in every quarter since the start of 2015.

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Market UpdateSean Nielsen