Eastside Real Estate Market Update — December 2023


Eastside Real Estate Market Update - OctoberThe Eastside real estate market is always changing, and if you're thinking about buying or selling a home in Eastside, you need to be up to date with market activity. Here, we've compiled six charts featuring data for you to compare to help you should buy or sell now or later.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Eastside New Listings

New Listings by Month - Eastside 2022

In November 2023, East Side County witnessed the introduction of 230 new residential listings, showcasing a steady stream of available properties. This trend continued in December 2023, with 217 additional new residential listings. The consistent addition of new listings provides potential homebuyers with diverse options, reflecting a dynamic real estate market on the East Side.


Eastside Active Listings

2022 Active Listings - Eastside

For residential properties, the active listings in East Side County saw a shift from 340 in November 2023 to 458 in December 2023. This increase suggests a growing inventory of available homes, potentially offering a broader selection for prospective buyers and indicating the evolving nature of the real estate market in the area.


Eastside Pending Listings

2022 Pending Listings in Eastside

The number of pending residential listings in East Side County remained relatively stable from November to December 2023, with 208 and 210 respectively. This consistency indicates a balanced market where properties are moving through the sales process at a steady pace.


Eastside Closed Sales

2022 Home Sold in Eastside

East Side County experienced a notable increase in closed residential sales from 278 in November 2023 to 298 in December 2023. This upward trend signifies a robust market, with a higher number of successful transactions, possibly driven by favorable conditions for both buyers and sellers.


Eastside Average Selling Price - Residential Only

Eastside 2022 Prices - Single-Family Homes

The average sales price for residential properties in East Side County showed a decrease from $1,788,996 in November 2023 to $1,533,422 in December 2023. This shift may be influenced by various market factors, including changes in demand, supply, or seasonal influences.


Eastside Average Selling Price - Condominiums

Eastside 2022 Condo & Townhome Prices

In the condominium sector, the average sales price in East Side County rose from $774,386 in November 2023 to $875,645 in December 2023. This increase suggests a positive market sentiment for condominiums, potentially driven by specific factors influencing this housing category, such as location desirability or amenities.

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The Eastside real estate market is active, with homes moving on a monthly basis. If you are looking to buy a home in this area, RexMont Real Estate can help. We have experienced agents who will work hard to find the perfect property for you. Contact us today to get started!

Previous Market Updates

November 2023 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in November 2023, as originally published in December.

Eastside New Listings

New Listings by Month - Eastside 2022

In October 2023, the East Side residential real estate market welcomed 353 new listings, reflecting a robust and active sector. However, in November 2023, there was a slight decrease with 230 new residential listings. This shift could be influenced by seasonal variations, market dynamics, or seller preferences.


Eastside Active Listings

2022 Active Listings - Eastside

The East Side's housing inventory displayed a decrease in active listings from October to November 2023. In October, there were 441 active residential listings, which decreased to 340 in November. This decline might indicate a heightened demand for properties or a strategic withdrawal of listings from the market.


Eastside Pending Listings

2022 Pending Listings in Eastside

October 2023 witnessed 283 pending residential listings, showcasing a strong interest from potential buyers. The following month, in November, the number decreased to 208 pending listings, suggesting a potential stabilization or adjustment in buyer-seller dynamics.


Eastside Closed Sales

2022 Home Sold in Eastside

For closed residential sales, October 2023 recorded 307 transactions, and November 2023 saw a slightly decreased figure of 278 closed sales. This could be attributed to various factors, such as the time of year, economic conditions, or shifts in buyer behavior.


Eastside Average Selling Price - Residential Only

Eastside 2022 Prices - Single-Family Homes

In terms of the average sales price for residential properties, October 2023 reported an average of $1,800,812. Although there was a slight decrease, November 2023 maintained a strong average sales price at $1,788,996. These figures indicate a resilient and relatively stable residential market on the East Side.


Eastside Average Selling Price - Condominiums

Eastside 2022 Condo & Townhome Prices

October 2023 saw condominiums on the East Side commanding an average sales price of $761,576, which experienced a modest increase to $774,386 in November 2023. This suggests that the condominium market remains active, with prices showing a positive trajectory during this period.

 

March 2023 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in February 2023, as originally published in March.

Eastside New Listings

New Listings by Month - Eastside 2022

2022 started lower than all of the previous years depicted on the chart but peaked in June, where it was higher than any of the previous years. Since that point, there was a gradual decrease in new listings, minus a nice bump in September. December finished out the year with 257 new listings, less than half the number 2022 started with.

Eastside Active Listings

2022 Active Listings - Eastside

2022 started with a historically low inventory at just 260 active listings in Eastside. However, that number grew throughout the year before hitting a late peak in September and decreasing throughout the rest of the year. Compared to years past, 2022 had the most December active listing of the past four years.

Eastside Pending Listings

2022 Pending Listings in Eastside

Pending listings started out quite low compared to previous years, at that number remained fairly low throughout 2022, never setting any historic highs. December ended with 234 pending listings in Eastside, the lowest of any December in recent years.

Eastside Closed Sales

2022 Home Sold in Eastside

Like pending listings, total sales also started low in 2022, with 291 in all. That number had many ups and downs throughout the year before starting the end-of-year decline in October. December had 298 sales—seven more than where we started in January.

Eastside Average Selling Price - Residential Only

Eastside 2022 Prices - Single-Family Homes

While sales numbers have been down compared to previous years, sales prices have been up throughout the vast majority of 2022. For single-family homes, January started with an average price of more than $1.5 million, and the year peaked in April. Since then, there was a gradual decrease before hitting another upward spike in October. For the rest of the year, prices trended downwards, ending with over $1.3 million in December—the only point in the year where prices were lower than those of previous years.

Eastside Average Selling Price - Condominiums

Eastside 2022 Condo & Townhome Prices



February 2023 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in January 2023, as originally published in February.

Eastside Homes Listed Monthly

New Listings by Month - Eastside 2022

2022 started lower than all of the previous years depicted on the chart but peaked in June, where it was higher than any of the previous years. Since that point, there was a gradual decrease in new listings, minus a nice bump in September. December finished out the year with 257 new listings, less than half the number 2022 started with.

Eastside Active Listings

2022 Active Listings - Eastside

2022 started with a historically low inventory at just 260 active listings in Eastside. However, that number grew throughout the year before hitting a late peak in September and decreasing throughout the rest of the year. Compared to years past, 2022 had the most December active listing of the past four years.

Eastside Homes Pending Monthly

2022 Pending Listings in Eastside

Pending listings started out quite low compared to previous years, at that number remained fairly low throughout 2022, never setting any historic highs. December ended with 234 pending listings in Eastside, the lowest of any December in recent years.

Eastside Homes Sold Monthly

2022 Home Sold in Eastside

Like pending listings, total sales also started low in 2022, with 291 in all. That number had many ups and downs throughout the year before starting the end-of-year decline in October. December had 298 sales—seven more than where we started in January.

Eastside Average Selling Price Per Month - Single-Family Homes

Eastside 2022 Prices - Single-Family Homes

While sales numbers have been down compared to previous years, sales prices have been up throughout the vast majority of 2022. For single-family homes, January started with an average price of more than $1.5 million, and the year peaked in April. Since then, there was a gradual decrease before hitting another upward spike in October. For the rest of the year, prices trended downwards, ending with over $1.3 million in December—the only point in the year where prices were lower than those of previous years.

Eastside Average Selling Price Per Month - Condominiums

Eastside 2022 Condo & Townhome Prices

Eastside condo and townhome prices peaked in April, fairly early in the year. Since then, 2022 saw gradual declines and an impressive spike in September. After more declines, 2022 ended with an increase in December, rising about $40,000 from November. December 2022 was also the highest year-end price of any of the years featured on the chart.


January 2023 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in December 2022, as originally published in December.

Eastside Homes Listed Monthly

New Listings by Month - Eastside 2022

2022 started lower than all of the previous years depicted on the chart but peaked in June, where it was higher than any of the previous years. Since that point, there was a gradual decrease in new listings, minus a nice bump in September. December finished out the year with 257 new listings, less than half the number 2022 started with.

Eastside Active Listings

2022 Active Listings - Eastside

2022 started with a historically low inventory at just 260 active listings in Eastside. However, that number grew throughout the year before hitting a late peak in September and decreasing throughout the rest of the year. Compared to years past, 2022 had the most December active listing of the past four years.

Eastside Homes Pending Monthly

2022 Pending Listings in Eastside

Pending listings started out quite low compared to previous years, at that number remained fairly low throughout 2022, never setting any historic highs. December ended with 234 pending listings in Eastside, the lowest of any December in recent years.

Eastside Homes Sold Monthly

2022 Home Sold in Eastside

Like pending listings, total sales also started low in 2022, with 291 in all. That number had many ups and downs throughout the year before starting the end-of-year decline in October. December had 298 sales—seven more than where we started in January.

Eastside Average Selling Price Per Month - Single-Family Homes

Eastside 2022 Prices - Single-Family Homes

While sales numbers have been down compared to previous years, sales prices have been up throughout the vast majority of 2022. For single-family homes, January started with an average price of more than $1.5 million, and the year peaked in April. Since then, there was a gradual decrease before hitting another upward spike in October. For the rest of the year, prices trended downwards, ending with over $1.3 million in December—the only point in the year where prices were lower than those of previous years.

Eastside Average Selling Price Per Month - Condos & Townhomes

Eastside 2022 Condo & Townhome Prices

Eastside condo and townhome prices peaked in April, fairly early in the year. Since then, 2022 saw gradual declines and an impressive spike in September. After more declines, 2022 ended with an increase in December, rising about $40,000 from November. December 2022 was also the highest year-end price of any of the years featured on the chart.


December 2022 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in November 2022, as originally published in December.

New Listings Monthly in Eastside

New Listings in Eastside - Dec 2022

So far, 2022 has been a very average year for Eastside when compared to the past three years. The number of new listings has been falling since September continues to November, but it's in-line with previous years in degree of reduction.

Active Listings Monthly in Eastside

December 2022 - Active Listings in Eastside

2022 has been an exciting year for Eastside in terms of active listings. While the year started lower than it had in the last three years, this November has had the highest number of active listings of the past thre years.

Pending Listings Monthly in Eastside

Pending Listings in Eastside, December 2022

Since September, pending listings have been falling every month, and November has been no exception. November saw the lowest number of pending listings in all of 2022, due in part to the cooling market as well as rising interest rates.

Sales Monthly in Eastside

December Sales in Eastside

In line with the low number of pending listings, the number of Eastside sales for November was just as low. This is to be expected, as sales will typically follow the patterns set by pending listings.

Average Sales Price in Eastside (Single-Family Homes)

Single-Family Home Sales Prices in Eastside

We were curious to see what November would look like for single-family homes after the jump we saw in October. While November fell down again, it’s still the highest November we’ve had in recent years.

Average Sales Price in Eastside (Condo & Multi-Family Homes)

December - Multi-Family Home Sales Prices in Eastside

After a small peak back in September, prices for condos and multi-family homes have been very gently falling. The difference between November and October was less than $3,000, showing that the past two months have been fairly steady.


November 2022 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in October 2022, as originally published in November.

Eastside Homes Listed Monthly

Eastside, WA New Listings 2022

The number of Eastside homes listed this year began lower in January. It hit its peak in June, but we can see that it has declined from July to August. While there was a bump up in September, the number of new listings dropped significantly in October, but this is normal for this time of the year.

Eastside Active Listings

2022 Active Listings in Eastside, WA

Monthly active inventory in 2022 started out historically low, but it began to rise until July, after which it saw a slight dip before coming back up in September. October has seen a decrease that is on par with previous years.

Eastside Homes Pending Monthly

Eastside WA Pending Listings in 2022

2022 started out with a three-month rise, but the year has been fairly tumultuous for pending listings. As we’ve passed the most popular season for buying homes, the number of pending listings in October has gone down quite a bit compared to September.

Eastside Homes Sold Monthly

Total Home Sales in Eastside, WA 2022

Like pending homes, completed sales throughout 2022 have had quite a few ups and downs. Sales numbers peaked in May and have seen an overall decrease throughout the rest of the year. However, October still has nearly the same number of sales that July saw. The pattern of this year’s graph can be attributed to rising mortgage rates impacting buyers.

Eastside Average Selling Price Per Month - Single-Family Homes

Average Single-Family Home Prices - Eastside, WA 2022

Since hitting a peak in April, there has been a steady decline in single-family home prices. However, October broke that pattern by being the first month since May to have an increase—and it was a significant one at more than $200,000.

Eastside Average Selling Price Per Month - Condos & Multi

Average Condo and Multi-Family Home Prices - Eastside, WA 2022

Like single-family homes, condos and multi-family housing also hit a peak in April and have spent most of 2022 coming down from it. However, whereas single-family homes saw a significant increase in October, condos and multi-family homes saw a slight decrease after an increase in September.


October 2022 Eastside Real Estate Market Update

Here is our historical analysis of the changes that occurred in September 2022, as originally published in October.

Eastside Homes Listed Monthly

New Eastside Home Listings in September 2022

As illustrated, the number of homes listed in Eastside this year began lower in January. It peaked in June, but we can see that it went down from July to August before jumping back up in September. Homes that were listed didn’t remain on the market for long, with anxious buyers jumping on listings as soon as they hit the market. As mortgage rates impact buyer affordability, we may see listings linger a little longer on the market as the year progresses.

Eastside Active Listings

Eastside Active Home Listings in September 2022

The year started with historically low inventory but climbed throughout the year until experiencing a slight dip in August. September is back up, but it’s suspected that inventory will begin to dip again, as we’ve seen in past years.

Eastside Homes Pending Monthly

Eastside Pending Home Listings in September 2022

So far in 2022, we can see a constant increase in pending homes for the first three months. Eastside pending homes significantly decreased in June, but the total pending homes have gradually increased again since then.

Eastside Homes Sold Monthly

Sold Eastside Home Listings in September 2022

At the beginning of the year, Eastside sales increased steadily from January to March, but numbers decreased a bit in April before returning again in May. However, monthly sales started to trend downward again in June before increasing again in July and August. September has the highest sales since June, but we suspect fewer sales as the year goes on as increasing mortgage rates will continue to impact buyer affordability.

Eastside Average Selling Price Per Month - Single-Family Homes

Eastside Single-Family Home Prices in September 2022

Eastside reached the highest sales price in April 2022. However, sales prices have fallen every month since May.

Eastside Average Selling Price Per Month - Condos & Multi-Family Homes

Eastside Multi-Family Home Prices in September 2022

Eastside multi-family home prices fell in February but increased from March until May. However, prices started falling again in June. Since July, the market has been fairly stable, hovering in the mid-$700s.



September 2022 Eastside Real Estate Market Update

If you're considering buying a home in the near future, it's important to stay up to date on the latest real estate market trends. In this blog post, we'll provide an overview of the Eastside real estate market, including recent trends and predictions for the future. Whether you're interested in purchasing a single-family home or a property for investment purposes, read on for key insights into the Eastside market!

Eastside Homes Listed Monthly

New Eastside Home Listings in August 2022

As illustrated, the number of homes listed in Eastside this year began lower at January.
It reached its highest as of now on June, but we can see that it went downJuly to August. Homes that do get listed haven’t remained on the market for long with anxious buyers jumping on listings as soon as they hit the market. As buyer affordability is impacted by mortgage rates, we may see listings linger a little longer on the market as the year progresses.

Eastside Active Listings

Eastside Active Home Listings in August 2022

The graph illustrates monthly active inventory in 2022. It has shown historically low inventory but has started going up until August 2022 and is expected to continue in this direction as the year progresses.

Eastside Homes Pending Monthly

Eastside Pending Home Listings in August 2022

So far in 2022, we can see that there's a constant increase in homes in pending for the first three months. Eastside had significant decrease on June, but gradually increased until August.

Eastside Homes Sold- Sold Eastside Home Listings in August 2022

The graph illustrates the number of homes sold per month. At the beginning of the year, sales numbers in Eastside were trending similarly from January up to March, and went down a bit on Aprill. I started going up again on May, however, they have started to trend downwards on June and are expected to continue in that direction as increased mortgage rates will continue to impact buyer affordabilty.

Eastside Average Selling Price Per Month - Single Family Homes

Eastside Single-Family Home Prices in August 2022

The graph shows that Eastside reached the highest sales price on April 2022. However, sales price started going down on May until the recent month which is July.

This chart depicts prices from January 2022 to August 2022

Eastside Average Selling Price Per Month - Condos & Multi

Eastside Multi-Family Home Prices in August 2022

Looking at the graphs, we can see that Eastside started going down on the second month, but went upon March until May. However, it started going down again on June up to the recent month which is July.

This chart depicts prices from January 2022 to August 2022

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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