Eastside Housing Update - Resale Only
Strong Intensity for New Listings
Although the housing market experienced a major intensity adjustment, the percentage of homes going under contract within the first 30 days is strong and resilient. On the Eastside, this is the experience for homes priced up to $2 million where 84 percent of sales take place.
The luxury market on the Eastside is experiencing healthy activity for homes priced from $2 to $5 million. There is selective buyer activity above $5 million.
SALES ACTIVITY INTENSITY™ SCALE
6.06%
4.13%
4.35%
2.89%
UNBELIEVABLE
INTEREST
RATES
3.18%
MONTHS
SUPPLY SCALE
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KEY MARKET INDICATORS OCTOBER 2022 (September Recap)
KEY MARKET INDICATORS OCTOBER 2022 (September Recap)
The highest number of unsold properties is normally September, with January 1st being the low point of the year. Over the fall market there are fewer resale listings on a weekly basis. Plus, there are three major holiday weeks with few new listings. Additionally, some unsold inventory in the upper-end and Luxury price points either expire or are taken off the market and then return after the first of the year. Home buyers during this time are more resilient, therefore the intensity for new listings starts heading higher.
THE WINTER CLEAN-UP BEGINS
The highest number of unsold properties is normally September, with January 1st being the low point of the year. Over the fall market there are fewer resale listings on a weekly basis. Plus, there are three major holiday weeks with few new listings. Additionally, some unsold inventory in the upper-end and Luxury price points either expire or are taken off the market and then return after the first of the year. Home buyers during this time are more resilient, therefore the intensity for new listings starts heading higher.
THE WINTER CLEAN-UP BEGINS