Market Trends from Around the Sound: Q4-2018
Realogics Sotheby’s International Realty presents a look at the housing market trends for the fourth quarter of 2018, from the shores of Bainbridge Island’s waterfront homes and in-city living opportunities to the Eastside’s most distinguished residences.
Seattle | Single-Family Homes
Though inventory dipped from the high of 2.1 months reported in the third quarter of 2018, it shifted dramatically on an annual basis, from the anemic figure of 0.4 months in the fourth quarter of 2017 to 1.5 months in Q4-2018.
Eastside | Single-Family Homes
In the third quarter, we reported that record-breaking home price growth for single-family homes was moderating, and it continued to do so in Q4-2018 with a median sales price of $860,000.
Bainbridge Island | Single-Family Homes
The Bainbridge Island market underwent a typical seasonal slowdown in home sales, with many buyers taking a break from the market. Fewer sales, however, did not equate to home value depreciation, as the median sales price reached $1,035,000, higher than any figure reported on a quarterly basis for the year.
Seattle | Condominiums
After a record-high inventory of 2.7 months for Seattle condos in the third quarter of 2018, inventory sank slightly to 2.2 months in the final quarter of 2018, a figure that drastically rose compared to the fourth quarter of 2017, when there was just 0.2 months of inventory. It comes as no surprise that a sustained influx of inventory is contributing to longer market times, which more than doubled from Q4-2017 (at 16 days) to Q4-2018 (at 36).