Realogics Sotheby's International Realty presents a look at the housing market trends for the fourth quarter of 2017, from the shores of Bainbridge Island to the Emerald City and the Eastside.
SEATTLE Q4 REPORT
Seattle home prices continued to reach far beyond seller's expectations in Q4-2017, as the median sales price increased 16.7% year-over-year to $882,000.
Q4-2017 posted impressive gains on the Eastside, as the average sales price increased 11% compared to last year and the days on market plummeted to 26 days.
Bainbridge Island continues to attract buyers, as the number of homes sold was up slightly compared to Q4-2016 despite a sharp 32.9% decrease in inventory.
The average sales prices for condominiums in Seattle as a whole increased by 11.6% compared to the third quarter of 2016, while the value of condos in the downtown core continues to skyrocket.
The lack of new construction closings in 2017 combined with increasing demand for home ownership drove the median price of downtown Seattle condominiums to $625,000, an increase of $100,000 or 19-percent for the year.
