Happy New Year! 

December stats reflected the highest median price of $1,529,500 on the Eastside, which is a 7% increase from the month prior. That’s just staggering! This is a 37% increase since December of last year. 

I sit here writing this while isolating as I tested positive for Covid a few days ago. While in quarantine, the number of friends and clients I’ve talked to who have Covid or had it in the last week is crazy. The good thing is that the symptoms are mild for most who have been fully vaccinated with a booster shot. Stay safe my friends.

We had a listing we were planning to put on the market this week and before I found out I had it, we decided to postpone the listing until the following week, due to the increase in cases and my concerns about a reduced number of showings we would see.  My hope is that by next week the majority of people who traveled and contracted it during the holidays will be in the clear. 

What can we expect going forward?
More of the same… the next two months, historically, have the lowest amount of inventory. As I write this, we currently have 55 homes for sale on the eastside. That’s down 45% from the month before! I do expect to see a slight uptick, but nothing that will match the demand.

The prices and demand are at their peak right now and if continues, we could see a repeat of 2021 appreciation. My skeptical brain says that we’ve exceeded the affordability trendline and with interest rates going up, we could see a slight decrease in appreciation.

Call me if you’d like to discuss this further, but if you’re on the fence about selling, I wouldn’t wait.