Market Trends Around the Sound: Q1-2022

May 2, 2022

Seattle   |   Single-Family Homes

The sales prices of Seattle homes continue their steady climb supported by a lack of inventory, while homes sold and homes for sale are down year over year, -52.2% and -15.73% respectively.

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Eastside   |   Single-Family Homes

The price per square foot shot up by over 41%, with the median sales price up by 29%, all but ensuring massive equity gains for those with an Eastside address.

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Mercer Island   |   Single-Family Homes

With just .4 months of inventory available, the median sales price on Mercer Island reached $2.53 million in the first quarter of 2022, 31% from Q1-2021.

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Bainbridge Island   |   Single-Family Homes

The Q1 median sales price is $1.325 million, about 20% more than the same period in 2021, with historical gains suggesting more sales price growth likely in the next quarter.

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Seattle   |   Condominiums

The median sales price is up 11% in its median sales price, breathing fresh air into the condo market. There’s urgency here, with only .7 months of inventory available.

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Kitsap County   |   Single-Family Homes

The number of homes sold is up by 15%, rare growth in this low inventory market. Likewise, the number of homes for sale is up by over 50%. All while the median home sales price is up nearly 21% year over year.

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King County   |   Single-Family Homes

King County homes are in demand—it’s not just Seattle and the Eastside. It’s no surprise we’ve seen a steadily decreasing time on the market across the area, down to just 11 days on average.

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Pierce County   |   Single-Family Homes

Listings move fast in Pierce County, but compared to King, it can feel like a walk in the park, with the average number of days on market at 15.

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