Eastside Real Estate Market Stats
Updated January 2024
The numbers for what the Eastside single-family and townhome real estate market did in December are in. The number most folks care about is median sales price which decreased by $15,000 in December to $1,560,000. Mortgage rates are below 7% which has helped buyer interest but low inventory has kept prices up. New listings in December were at the lowest point in the last 10 years!
Looking for condo stats? Check out our Eastside condo market stats page.
Also check out our Market Stats & Trends page for more local trends across the Eastside!
Eastside Median Sales Price
(Single-Family Homes & Townhouses)
Eastside Median Sales Price Per Square Foot
(SFH & Townhouses)
Eastside New Listings
How many new listings did we see on the Eastside in December?
New listings hit their lowest point in the last 10 years with just 106 single-family homes listed on the Eastside in December. And even though rates have dropped below 7%, that’s going to keep buyers sidelined as prices won’t come down as quickly.
Eastside Pending Sales
How many homes went under contract or pending on the Eastside in December?
Buyers put 169 homes under contract last month. Buyers aren’t usually very active in December due to the holidays but rates coming down below 7% definitely got a few of them out the door and into new homes. This was still up 11% from December 2022.
Number of Eastside Homes For Sale
How many homes were for sale on the Eastside at the end of December?
This is where lower rates are having an impact! 246 homes were still for sale at the end of the month which is down 43% from December 2022 when rates were on their way up.
Eastside Median Days on Market
Median days on market increased to 15 days. This likely has more to do with the holiday season coupled with the low inventory.
Eastside Median Percent of Last List Price
Even though homes are still selling relatively quickly, sellers are open to negotiating in order to sell their house fast! Median percent of list price dropped below 100% meaning more sellers are taking offers below their list price than previous months.
Eastside Closed Sales
How many homes closed on the Eastside in December?
Closed sales decreased 13% month-over-month in December with 234 closings. This isn’t surprising given the holidays but it is up 5% year-over-year.
Eastside Months of Supply of Inventory (Pending)
Months of supply, a measure of how long it’d take to sell all the homes for sale if no new homes hit the market, decreased to less than a month in December. Fewer and fewer homes means the handful available are selling quickly.