As summer draws to a close, the local housing market remains somewhat unsettled. This is due to persistently high interest rates that have caused buyers to pause and sellers to hold onto their pandemic-era mortgage rates, as well as low inventory increasing competition for the available listings. Sold home prices in some areas have begun to see year-over-year price increases in relation to the slowdown that hit the market at the end of last year.
While these conditions may be challenging to navigate, sellers are still finding success with correctly-priced listings. New listings are attracting multiple offers and often sell over list price. Buyers who come prepared with strategic offers and a willingness to waive contingencies can break into the market with the guidance of a savvy broker.
This report is based on Residential and Condominium sales activities on the Eastside.