Eastside August Stats

Prices softened month-over-month across King County. Year-over-year, Seattle — which continues to outpace the rest of the county — is up 4%, while the Eastside is down 2% and King County overall is holding flat. We haven’t seen Seattle outpace the Eastside since the pandemic, and honestly, we’re now looking at inventory and sales numbers that feel a lot like 2019 levels nationwide. (For the data nerds among us, that’s an interesting throwback.)

New listings dropped for the second month in a row — right on schedule for this time of year — and inventory dipped ever so slightly, leaving us with 2.4 months of supply. Technically, that’s a balanced market, but for homes that don’t sell in the first two weeks, it can feel like a buyer’s market.

Here’s the real jaw-dropper: only 37% of homes sold at or above list price — the lowest I can remember seeing. Just a few months ago, that number was closer to 70%. While it feels dramatic, this is closer to a “normal” market. Buyers now have room to breathe and think critically. Sellers, on the other hand, need to be game-on when it comes to presentation, pricing, and marketing — which, again, is just how a healthy market works.

If you’re wondering how to make today’s market work in your favor, let’s talk strategy.