Eastside Real Estate Market Update: August 2018

You may have heard in the news that our real estate market is changing. The number of homes for sale on the Eastside is up 82% over last year for a total of 1,569 active listings in August as reported by NWMLS. That is compared to 862. I am pleased to say that our current and local market numbers are representing a more-stable market. I expect to see a reasonable amount of buyers in the market for the inventory we have, fewer multiple offers, and much smaller overall price increases. The wages in our area could not sustain the rapid price increases of the last few years so these changes may allow buyers to catch up.

Then and Now

NWMLS stats for residential properties: Areas 500-600 except areas 501 and 561. Information and statistics derived from Northwest Multiple Listing Service.

The below homes represent three of the 712 homes sold in August on the Eastside.

3026 108th Ave SE, Bellevue
4,200 Sq Ft | 5 BD | 4.25 BA
List Price: $2,649,880
Sold Price: $2,600,000 (98.1% of list)
Listed By: John L. Scott, Inc.
Sold By: Windermere Real Estate Midtown

 

16219 Tiger Mountain Rd SE, Issaquah
2,268 Sq Ft | 3 BD | 1.75 BA
List Price: $650,000
Sold Price: $670,000 (103.9% of list)
Listed By: Windermere Real Estate/East
Sold By: Coldwell Banker Danforth

 

3026 108th Ave SE, Bellevue
4,200 Sq Ft | 5 BD | 4.25 BA
List Price: $2,649,880
Sold Price: $2,600,000 (98.1% of list)
Listed By: John L. Scott, Inc.
Sold By: Windermere Real Estate Midtown

 

I don’t have a crystal ball, but I am excited about the current market conditions in that more buyers and sellers can join in and can work together. I have plenty of trends to better-illustrate the current situation so you can make great decisions about what you should do with your real estate. Reach out! 206-595-4284 or Marcia@HardyRealtyLLC.com.

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