It appears that balance is slowly returning to the local housing market. Home price growth on the Eastside slowed in the third quarter. Inventory increased significantly, but is still far short of the four to six months that indicate a normal market. Homes are taking longer to sell, giving buyers the breathing room to make the right choice for their situation. While the market is softening, the recent expanded presence of Google and Facebook on the Eastside means demand should stay strong. And with inventory still at historically low levels, it’s likely to take some time to move to a fully balanced market.
*All figures are based on single family home sales, which include townhomes + exclude condos. Stats are based on September 2018 sales in Bellevue, East of Lake Sammamish / Issaquah, Kirkland / Bridle Trails, Mercer Island, Redmond / Carnation, Renton Highlands, Woodinville / Juanita / Duvall.