Market Trends from Around the Sound: Q2-2018
I am pleased to present a look at housing market trends for the second 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 continues its red-hot housing market streak, as the median sales price of a single-family home hit $857K, up 13.1% compared to Q2-2017, which averaged $758K.
Home prices on the Eastside continued their upward climb, increasing 12% year-over-year, while days on market decreased to just over two weeks.
Though other areas experienced increased inventory, Bainbridge Island saw a decrease of homes for sale with just 1.8 months of inventory, as the days on market fell 40%.
Condominiums in Seattle continue to draw buyers, as the average days on market in Q2-2018 was 14 days and the average sales price reached $514,000.