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Market Annual Report

All signs point to winter—the fourth quarter of the year—being the slowest time of year in real estate. And yet, 2021 continues to be anything but normal. What little inventory there was, was scooped up by eager buyers, closing out a huge year for real estate. Check out the findings for the five areas Realogics Sotheby’s International Realty examines for its quarterly report to get a feel for where the market has been. And when you’re ready, get in touch with an RSIR local expert and global real estate advisor who can help you navigate where the market is heading next.

Seattle

Single-Family Homes

There is only half a month of inventory in the Seattle area, creating a seller’s market with 70 percent fewer homes for sale than this time last year. It’s bolstered a lot of competition for buyers, and offered plenty of incentives for sellers to list.

Seattle

Condominiums

The median sales price went back up this quarter after falling a few percentage points year-over-year in Q3. With just 1.3 months of inventory available, condo sellers in Q4 went pending sooner as the average days on market ticked down.

Mercer Island

Single-Family Homes

The median home sales price on Mercer Island saw a year-over-year 14.7 percent price increase in the fourth quarter, though the price per square foot remained relatively steady. With only .2 months of inventory available, the average days on market decreased to a scant 12.

Eastside

Single-Family Homes

With so few homes for sale, we’ve certainly seen the demand and the price for homes go up on the Eastside. The median sales price for a single-family home went up by over 33 percent compared to this time last year.

Bainbridge Island

Single-Family Homes

The median sales price growth for a single-family home on Bainbridge Island climbed nearly 18 percent. But the average price per square foot saw an even bigger increase at 28 percent, a jump that will likely favor sellers yet to enter the market.

Find even more detailed market data and analysis by neighborhood or zip code by signing up for Realogics Sotheby’s International Realty’s monthly automated market tracker reports.