Eastside Real Estate Market Update — November 2022

Eastside Real Estate Market Update - OctoberThe Eastside real estate market is always changing, and if you're thinking about buying or selling a home in Eastside, you need to be up to date with market activity. Here, we've compiled six charts featuring data for you to compare to help you should buy or sell now or later.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Eastside Homes Listed Monthly

Eastside, WA New Listings 2022

The number of Eastside homes listed this year began lower in January. It hit its peak in June, but we can see that it has declined from July to August. While there was a bump up in September, the number of new listings dropped significantly in October, but this is normal for this time of the year.

Eastside Active Listings

2022 Active Listings in Eastside, WA

Monthly active inventory in 2022 started out historically low, but it began to rise until July, after which it saw a slight dip before coming back up in September. October has seen a decrease that is on par with previous years.

Eastside Homes Pending Monthly

Eastside WA Pending Listings in 2022

2022 started out with a three-month rise, but the year has been fairly tumultuous for pending listings. As we’ve passed the most popular season for buying homes, the number of pending listings in October has gone down quite a bit compared to September.

Eastside Homes Sold Monthly

Total Home Sales in Eastside, WA 2022

Like pending homes, completed sales throughout 2022 have had quite a few ups and downs. Sales numbers peaked in May and have seen an overall decrease throughout the rest of the year. However, October still has nearly the same number of sales that July saw. The pattern of this year’s graph can be attributed to rising mortgage rates impacting buyers.

Eastside Average Selling Price Per Month - Single-Family Homes

Average Single-Family Home Prices - Eastside, WA 2022

Since hitting a peak in April, there has been a steady decline in single-family home prices. However, October broke that pattern by being the first month since May to have an increase—and it was a significant one at more than $200,000.

Eastside Average Selling Price Per Month - Condos & Multi

Average Condo and Multi-Family Home Prices - Eastside, WA 2022

Like single-family homes, condos and multi-family housing also hit a peak in April and have spent most of 2022 coming down from it. However, whereas single-family homes saw a significant increase in October, condos and multi-family homes saw a slight decrease after an increase in September.

Let Us Help You Buy Your Next Home

The Eastside real estate market is active, with homes moving on a monthly basis. If you are looking to buy a home in this area, RexMont Real Estate can help. We have experienced agents who will work hard to find the perfect property for you. Contact us today to get started!

Previous Market Updates

October 2022 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in September 2022, as originally published in October.

Eastside Homes Listed Monthly

New Eastside Home Listings in September 2022

As illustrated, the number of homes listed in Eastside this year began lower in January. It peaked in June, but we can see that it went down from July to August before jumping back up in September. Homes that were listed didn’t remain on the market for long, with anxious buyers jumping on listings as soon as they hit the market. As mortgage rates impact buyer affordability, we may see listings linger a little longer on the market as the year progresses.

Eastside Active Listings

Eastside Active Home Listings in September 2022

The year started with historically low inventory but climbed throughout the year until experiencing a slight dip in August. September is back up, but it’s suspected that inventory will begin to dip again, as we’ve seen in past years.

Eastside Homes Pending Monthly

Eastside Pending Home Listings in September 2022

So far in 2022, we can see a constant increase in pending homes for the first three months. Eastside pending homes significantly decreased in June, but the total pending homes have gradually increased again since then.

Eastside Homes Sold Monthly

Sold Eastside Home Listings in September 2022

At the beginning of the year, Eastside sales increased steadily from January to March, but numbers decreased a bit in April before returning again in May. However, monthly sales started to trend downward again in June before increasing again in July and August. September has the highest sales since June, but we suspect fewer sales as the year goes on as increasing mortgage rates will continue to impact buyer affordability.

Eastside Average Selling Price Per Month - Single-Family Homes

Eastside Single-Family Home Prices in September 2022

Eastside reached the highest sales price in April 2022. However, sales prices have fallen every month since May.

Eastside Average Selling Price Per Month - Condos & Multi-Family Homes

Eastside Multi-Family Home Prices in September 2022

Eastside multi-family home prices fell in February but increased from March until May. However, prices started falling again in June. Since July, the market has been fairly stable, hovering in the mid-$700s.



September 2022 Eastside Real Estate Market Update

If you're considering buying a home in the near future, it's important to stay up to date on the latest real estate market trends. In this blog post, we'll provide an overview of the Eastside real estate market, including recent trends and predictions for the future. Whether you're interested in purchasing a single-family home or a property for investment purposes, read on for key insights into the Eastside market!

Eastside Homes Listed Monthly

New Eastside Home Listings in August 2022

As illustrated, the number of homes listed in Eastside this year began lower at January.
It reached its highest as of now on June, but we can see that it went downJuly to August. Homes that do get listed haven’t remained on the market for long with anxious buyers jumping on listings as soon as they hit the market. As buyer affordability is impacted by mortgage rates, we may see listings linger a little longer on the market as the year progresses.

Eastside Active Listings

Eastside Active Home Listings in August 2022

The graph illustrates monthly active inventory in 2022. It has shown historically low inventory but has started going up until August 2022 and is expected to continue in this direction as the year progresses.

Eastside Homes Pending Monthly

Eastside Pending Home Listings in August 2022

So far in 2022, we can see that there's a constant increase in homes in pending for the first three months. Eastside had significant decrease on June, but gradually increased until August.

Eastside Homes Sold Monthly

Sold Eastside Home Listings in August 2022

The graph illustrates the number of homes sold per month. At the beginning of the year, sales numbers in Eastside were trending similarly from January up to March, and went down a bit on Aprill. I started going up again on May, however, they have started to trend downwards on June and are expected to continue in that direction as increased mortgage rates will continue to impact buyer affordabilty.

Eastside Average Selling Price Per Month - Single Family Homes

Eastside Single-Family Home Prices in August 2022

The graph shows that Eastside reached the highest sales price on April 2022. However, sales price started going down on May until the recent month which is July.

This chart depicts prices from January 2022 to August 2022

Eastside Average Selling Price Per Month - Condos & Multi

Eastside Multi-Family Home Prices in August 2022

Looking at the graphs, we can see that Eastside started going down on the second month, but went upon March until May. However, it started going down again on June up to the recent month which is July.

This chart depicts prices from January 2022 to August 2022

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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