June Market Update: Seattle + Eastside

Key takeaways for the month

Overall, the Seattle-area market has been resilient after the downturn caused by COVID-19.

  • In the early part of the year, sale prices were far outpacing 2019 and homes were selling much more quickly.
  • Now in the typical peak season, we aren’t having the stellar summer we would have expected pre-COVID, but we’re catching up to 2019.
  • Normally, during peak season, properties are listed under market value to try to entice competition. This June, the trend was different because of continued uncertainty: homes were listed at or above market value because competition was less expected.
  • When the number of properties listed dropped sharply in April, the number of buyers looking for homes didn’t drop as much … so competition remained strong, which is reflected in June seeing days-on-market level out and sale-to-list price ratio rebound.

Competition snapshot

Our Research Team looked into sales in the hottest zip codes on the Eastside for a snapshot of competitiveness in the local market.

The researched homes are a sample of the resale market for single-family houses and townhomes, excluding new construction, listed for $800,000 – $1,200,000 in select zip codes in Bellevue, Kirkland, and Redmond.

Sale Price

Based on date the property sold.

List Price

Based on date the property was listed.

Sale Price Compared to List Price

Based on date the property sold.

Days on Market

Based on the number of days between the list date and the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Listed

Based on date the property was listed.

Number of Properties Pending Sale

Based on the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Sold

Based on date the property sold.


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