Market Trends: Q4-2021

Typically, the real estate market slows down over the holiday season. Buyers take a break from their home search, whether from fatigue or just the hustle and bustle of the holidays. And sellers tend to focus on gathering with loved ones instead of preparing to list. But, 2021 has proved to be anything but typical: What little inventory there was in the fourth quarter of the year was scooped up by eager buyers, closing out a huge year for real estate.

Seattle | Single-Family Homes

There is only half a month of inventory in Seattle, creating a seller’s market with 70 percent fewer homes for sale than this time last year. It’s bolstered a lot of competition among buyers, and offered plenty of incentives for sellers to list.

Eastside | Single-Family Homes

With so few homes for sale, we’ve certainly seen the demand and the price for homes go up on the Eastside. The median sales price for a single-family home went up by over 33 percent compared to this time last year.

Seattle | Condominiums

The median sales price went back up this quarter after falling a few percentage points year-over-year in Q3. With just 1.3 months of inventory available, condo sellers in Q4 went pending sooner as the average days on market ticked down.