MARKET REPORTS

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OCTOBER 2020

 

The second-highest number of sales for the month of October and record low inventory for October lead to a staggering 17% annual price increase.

0.6 months supply of inventory on the Eastside

51% of sold over the original list price

Looking forward: The Eastside real estate market has a general pattern of seasonality. Specifically, buyer activity starts in January and February and the new listing is the highest of the year from April through August. The result is annual price appreciation tends to happen in the 1st six
months of the year and then flattens out over the second half. March or April tend to have the highest number of multiple offers demonstrated by properties selling for more than the original list price.