October Eastside Stats

It’s an interesting market. While prices are up 7% year-over-year, they are down for the fourth month in a row. Prices dropped 1.5% month-over-month and are down 10% from May’s peak, which was up 18% since December. Can someone say rollercoaster? We are in a sellers’ market with 1.5 months of inventory and 35% of the homes selling above asking price which makes the declining prices perplexing. I do anticipate price appreciation this month, as the Fed Fund Rate drop stimulated buyer activity and confidence, though rates are higher now. As always, time will tell.