Seattle Eastside real estate continues with its frenzied, fast pace. Sellers could not ask for anything better than the market we have on the eastside this year. If no other homes were to come on the market, it would only take two months to sell all the homes that were for sale in May, when 71% of the available homes sold. Most homes sold at the asking price, with many selling over full price because of the demand with multiple offers.
As typical of the late spring and early summer, more homes are coming on the market, but the supply is still incredibly low. We're far below the supply in May, 2012, when there were almost 500 more homes for sale.
This year, the pace of the sale has kept up with the increase in listings. The number of sales per month has increased from 587 in January to 944 in May.
What a difference a year makes! Here are the specifics for May, 2013 as compared to May 2012:
- 71.5% of the available homes sold this past May, 41% sold in May, 2012.
- Homes sold in 41 days, down from 74 days in May, 2012.
- In 2012 median pricing in May was $500,000. In 2013, May's median pricing was $565,000.
If you'd like to know more about the value of your home, please don't hesitate to contact us.