Housing market report for December 2021: Seattle + Eastside

architectural photography of city buildings

December 2021 highlights

Overall, the market remained steady in the middle of its slow winter season in and around Seattle. Sale prices were still low for the year but didn’t experience much movement in either direction from November to December. But competition showed some signs of increasing into the new year as the number of listed homes dropped 34% from November while the number of homes being sold kept pace, leading to a lower inventory.

  • Inventory decreased in December in the Seattle area In November, sellers in Seattle listed over 580 homes but that number dropped 34% to just over 380 in December. But the rate of buying didn’t budge much leading to a lower inventory.
  • The Eastside remained competitive For the eighth month in a row, homes spent only five days on the market on the Eastside near Bellevue and Redmond. Both the number of homes listed and sold dipped by the same rate, ensuring that most metrics held despite nearby areas seeing a downward trend in both sales and list price. The Eastside is still the more competitive area for the Seattle metro region.
  • The demand for multi-family homes in Seattle dipped The sale price for condos in Seattle slid to 98% of their list price for a median price of $492,000—a nearly 7% drop from November.

See previous months’ highlights

Competition report

Our research team analyzed the competition in select local areas.

Sale price

List price

Sale price compared to list price

Days on market

Number of properties listed

Number of properties pending sale

Seattle includes data for the city of Seattle.

Eastside includes data for Redmond, Bellevue, and Kirkland.

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