We’re still having record heat in the Puget Sound region, and our home prices are rising with the thermometer. It’s still a roaring seller’s market out there, especially on the Eastside. We continue to have local markets in dire need of inventory, so this is an excellent time to list your home and take advantage of the current market. • The months supply of inventory continues to decline from the prior year in Seattle and the Eastside, as well as King and Snohomish counties. • Closed sales on the Eastside have started to decrease in number due to seasonal trends and lowered inventory. • The majority of those Eastside closed sales in July sold over original list price.

Eastside

Click image to view full report.The Eastside had the highest increase in home sales prices since last July, increasing 9 percent to $681,600. We continue to have the highest median home prices in the region. Inventory had the slightest increase since June's 1.1 months of inventory with July holding 1.2 months (a balanced market reflects 3 to 6 months of inventory). Total closed sales dropped to 932, 3 percent less than July 2014 and 5 percent than last month's 981 total closed sales on the Eastside.

 

 

 

 

 

 

 

Seattle

Click image to view full report. Seattle continues to hold the lowest inventory in our region with just over 2 weeks supply. Active listings decreased 40 percent from the year before showing the sharpest decline in our local markets. Many homeowners are hesitant to list their homes for fear of not being able to find a new home in the area. Median sales prices were up 6 percent over last year to $575,500 and only increased about 1 percent from June. The number of closed sales was less, again a reflection of the lower inventory in the area.