Eastside Market Update - 2nd Quarter, 2015

Summer is in full swing and so is the real estate market! Here is the latest from our statistics team at Windermere:

The strong real estate market maintained its momentum in the second quarter of the year. Continued low inventory coupled with ever-increasing demand pushed home prices in King County to an all-time high. Competition was fierce, as firsttime home buyers competed with foreign buyers and those moving here for new jobs. The multiple offers and escalation clauses that have now become common made it a very hot market for sellers.

• Home prices in every community on the Eastside increased over last year.

• While sales on the Eastside jumped significantly, inventory remains very tight.

• With very little new construction in the pipeline, low inventory is expected to continue until more sellers are willing to list their homes

We're also including a look at stats for the Kirkland/Bridle Trails area specifically, starting with Median Closed Sales Price going back to 2006:

Also, a look at June inventory vs 2014:

And June Closed Sales vs 2014:

All figures are based on single-family home sales, which includes townhomes ,but excludes condos.Graphs were created by Windermere Real Estate using NWMLS data, but information was not verified or published by NWMLS. Data reflects all new and resale single-family residences sold.