Eastside December single-family market report: median sales price sky rockets to close 2021

Happy new year! The numbers for how the Eastside single-family and townhome market did in December are in so let’s take a look at how 2021 wrapped up!

I expected median sales price to climb in December due to low inventory but it absolutely skyrocketed to a new all-time high to $1,649,000. The number of new listings in December didn’t set a new low but it came close with just 182 sellers putting their homes on the market.

Naturally, median price per square foot hit a new high at $644.

Median percent of list price climbed again to 11% over the asking price for homes, a clear indication of the continued sellers market.

Despite the competition, buyers put 202 homes under contract but this was an all-time low for December.

At the end of the month, there were just 37 homes left for sale across the entire Eastside.

Months of supply is the measure of how long it’d take to sell all the condos on the market. The all-time low continued with just 3 days of inventory at the end of the month. If you’re thinking about selling, the buyers are there – we’re expecting a hot start to the first half of the year!