Eastside Condo Market Real Estate Stats
Updated November 2022
Eastside Condo Median Sales Price
Surprisingly, median sales price for Eastside condos ticked upwards $15,000 from September to October to $566,000. I would have expected this to drop month-over-month as the market continues to cool. Median sales price has declined $91,000 from the high in May but is still up 5% year-over-year from 2021.
Eastside Condo Median Sales Price Per Square Foot
Eastside Condo New Listings
How many new condo listings did we see on the Eastside in October?
We saw 147 new listings in October, down from September’s 228. September is usually the last busy month for new listings for the year and unlike the single-family market, we’re not far off from last year’s inventory levels in October (177).
Eastside Condo Pending Sales
How many homes went under contract or pending on the Eastside in October?
118 condos went pending on the Eastside in October down from 131 in September. I’d expect this to continue to decline through the end of the year unless there is a surprise drop in interest rates. Between higher interest payments and HOA dues, the monthly payments for condos are pretty high for a lot of buyers right now.
Number of Eastside Condos For Sale
How many homes were for sale on the Eastside at the end of October?
There were 257 homes for sale on the last day of October, down from 293 for sale at the end of September. We’re certainly still below our pre-Covid levels of inventory even though buyers will see they have a decent amount of choice right now. Especially compared to last December when there were just 21 condos for sale.
Eastside Condo Median Days on Market
A bit of a surprise that median days on market decreased in October to 10 days. I’d expect this to increase again in November and December.
Eastside Condo Median Percent of Last List Price
The median percent of last list price was 98.3%. Again, not surprising given the lack of buyers and abundance of inventory.
Eastside Condo Closed Sales
How many condos closed in Seattle in October?
133 condos closed on the Eastside in October, down from 147 in September. Last year, 219 homes closed in October.
Eastside Condo 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 was was down to 1.6 from 1.8 in October. A balanced market is considered to be 3 months, so we’re still far from a balanced market.