The Seattle-eastside real estate market is only getting better and better! August home sales beat July and were way ahead of last August. This August was one of the best real estate markets in years!
Real estate sales were hopping. Thirty-three percent more homes received accepted offers this August than August of 2010. Almost 20% fewer homes were on the market, so less supply + more demand equaled more sales. In August, 22% of the homes for sale on Seattle’s eastside got offers. This means out of the 2811 homes for sale, 609 homes sold. On average, most homes sold within 85 days.
In King County, the number of homes for sale dropped below 10,000 for the first time since last May. Here on the eastside, we’re also seeing the lowest number of homes for sale. More than likely, the peak number of homes for sale was 2879 back in June.
Last month I questioned whether the surge in real estate sales would continue because of the volatility in the stock market. With August sales numbers, we’re seeing the most robust market we’ve seen in a long time. The stock market didn’t put a damper on eastside home sales.
Was your market affected by the stock market “roller coaster?”