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Eastside Real Estate Market Stats

Updated November 2022

The numbers for what the Eastside single-family and townhome real estate market did in October are out. The headline is that there are no surprises in this month’s numbers (though there were some surprises in Seattle’s October numbers). The market continues to cool with median sales price dropping nearly $500k since the high in March. Interest rates might be high but buyers could definitely save a lot on their purchase price right now! Median sales price is down 8% year-over-year from October 2021, the first time in 10 years.

Looking for condo stats? Check out our Eastside condo market stats page.

Eastside Median Sales Price
(Single-Family Homes & Townhouses)

After it ticked upward last month, median sales price dropped $70,000 to $1,380,000. This was a 5% decline month-over-month and I’d expect this trend to continue through the end of the year. Sales prices have cooled 27% since the peak in March.

Eastside Median Sales Price Per Square Foot
(SFH & Townhouses)

Eastside New Listings

How many new listings did we see on the Eastside in October?

We saw 467 new listings in October, down from September’s 664. It isn’t surprising to see new listings slow as fall settles in. September is usually the last busy month for new listings for the year.

Eastside Pending Sales

How many homes went under contract or pending on the Eastside in October?

331 homes went pending on the Eastside in October down from 389 in September. In pre-Covid years, around 500 homes have gone pending in October each so this is the slowest start to the fourth quarter that we’ve had in a long time (the last 10 years).

Number of Eastside Homes For Sale

How many homes were for sale on the Eastside at the end of October?

There were 797 homes for sale on the last day of October, down from 884 for sale at the end of September. At the end of October 2021 there were 178 homes for sale, so inventory has more than quadrupled year-over-year. Looking at earlier years like 2019 for pre-Covid comparisons, there were 944 homes for sale at the end of October so inventory is still below those levels.

Eastside Median Days on Market

A bit of a surprise that median days on market decreased in October to 13 days. I’d expect this to increase again in November and December.

Eastside Median Percent of Last List Price

The median percent of last list price was 97.2%. Again, not surprising given the lack of buyers and abundance of homes.

Eastside Closed Sales

How many homes closed in Seattle in October?

391 homes closed on the Eastside in October, down from 440 in September. Last year, 586 homes closed in October.

Eastside 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 2 from 2.1 in October. A balanced market is considered to be 3 months, so we’re still far from a balanced market.

Eastside Months of Supply of Inventory (Closed)