December Market Update: Seattle + Eastside

Key takeaway for the month: Inventory levels (the number of homes for sale) are down month-over-month across every home type. Further, both the percent of homes selling under list price and days on market decreased compared to December a year ago.

So what?: This December was more competitive than last December.

The good news: Flyhomes Cash Offer clients win homes 68% more* … winning in competition is one of our superpowers. Two big reasons for that: We help clients make Cash Offers, which are awesome, and avoid contingencies, which are homebuying Kryptonite

Quick highlights

  • Townhomes are selling under list: Townhomes in Kirkland and Redmond both had very high rates of selling under list price in December (73% and 81%, respectively).
  • Things slowed down: In December, median days on market were up for almost all regions and property types—not surprising with the holidays. The exceptions were Bellevue townhomes and Redmond condos/townhomes, which sold faster than the previous month.


  • December closed with single-family homes at a median sale price of $745,000, condos at $474,975 and townhomes at $650,900.
  • Active listings are down more than 30% across all home types.
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  • Median sale prices for single-family homes came in at $1,319,000, a 15.57% increase over November. Condo sale prices are down 10.5%, at $482,450, while townhomes remain flat, at $660,000. 
  • For condos, median list prices dipped 7.35% month-over-month and 13.04% year-over-year.
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  • Median sales for single family homes were at $990,000, down 5.71%, while condos dove 21.25%, to $315,000. Meanwhile, townhomes were up 14.41% at $675,000.
  • For condo buyers: Median list price is down 18% and price per square foot down 16.83%.
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Redmond – newly added this month!

  • Single family homes had a median sale price of $1,100,000, up more than 12% from last month, while condos rang in at $369,500 (down almost 12% month-over-month). Townhomes saw a median sale price of $649,000.
  • Median list price for single family homes rose 20.97% month-over-month.
  • Looking for a townhome? Look elsewhere or wait for new inventory—the year ended with no new townhomes listed in December.

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Don’t see the area you’re interested in? We can get the data for you. Just ask. 

Ready to find your new home? Let’s go!

Or visit Flyhomes

*Average for homes with 4 total competing offers on which our clients made a Cash Offer during the period of 1/1/19 through 6/30/19. The average number of offers in a multi-offer situation during that timeframe was 3.42.