The 2018 Quarter Four Market Report
Realogics Sotheby’s International Realty just released their Quarterly Market Report for quarter four of 2018. The report outlines the latest real estate trends and what to look out for in Seattle and on the Eastside.
In quarter four of 2018, there were 1.5 months of inventory for Seattle and 1.7 months of inventory for the Eastside. Although inventory is down, the average cumulative days on market was just over one month in Seattle, a sharp increase compared to the previous quarter’s summer months. On the Eastside, the average days on the market increased by 62% from the year previous.
The median price for a single-family home in Seattle in the fourth quarter of 2018 was $781,000, a slight decrease from 2017. On the Eastside, the median sales price increased slightly to $860,000.
The average price per square foot in increased from $349 to $372 on the Eastside, and it increased from $435 to $441 in Seattle.
Interest rates continue to rise in Seattle and on the Eastside, and the state of the market is no longer balanced. This quarter, it is a sellers market.
To read more about the state of the market in the Greater Seattle Area, click here, and be sure to check out our featured listings below.
LIVE Listings by Nielson RE Group
5, 0002 SQ FT | 4 Beds | 3.5 Baths | Offered at: $2,499,000
Perched above the 4th tee-box of the China Creek course at the Golf Club at Newcastle, this stunning Lochwood Lozier showcase home elegantly whispers luxury throughout. Blending with the natural surroundings of Cougar Mountain, enjoy 2-story entry and great room with 20ft stone lodge-like fireplace overlooking peaceful views.
5, 237 SQ FT | 5 Bed | 4.5 Baths | Offered at: $1,995,000
This striking home in The Reserve Estates at Newcastle is the epitome of luxury living. Built for entertaining, this home features soaring ceilings, sprawling family and great rooms, cozy theater room, a true chef’s kitchen—indoor and outdoor—and all of the storage you could ask for. Northwest-inspired architecture with rich wood moldings and finishes invite you to experience the best of Newcastle living.