The third quarter of the year has come to a close and we are proud to share a market update from the shores of Bainbridge Island and in-city living opportunities to the Eastside’s most distinguished homes.
On the Eastside record-breaking home price growth was seen, with total increase of 7.11% compared to Q3-2017. This gain was significantly less that the year prior, which held an increase of nearly 15%. The median sales price was $889,000 and the average days on market increased to 23.
The total number of homes for sale within Seattle increased, with the highest number of condos available since 2012 and inventory among single-family homes up nearly 75% from Q2. Prices throughout the city continued their upward journey, though growth seen in Q3 was slower than seen earlier in the year.
Bainbridge Island homes saw a higher increase in price than the rest of the Puget Sound region, which may be attributed to short supply of just 2 months of inventory. The current days on market climbed up to 43 days, a relatively steady number for this time of year.
Click to read more about the market for single-family homes on the Eastside, Seattle or Bainbridge Island, or check out Seattle’s condo market. Visit Realogics Sotheby’s International Realty for additional details.