Real Estate

Eastside Median Home Prices Up 15 Percent Since Last Year

The median price of homes sold last month was $520,500, compared to $516,000 in June and $452,000 a year ago.

The Eastside's housing market is heating up this summer, where sales are up 23 percent from last year and median prices continue to rise.

According to a monthly report from the Northwest Multiple Listing Service (NWMLS), 1,153 homes were sold on the Eastside for July, compared to 1,069 in June and 940 a year ago.

The median sale price was $520,500 last month, up from $516,000 in June and $452,000 a year ago, marking a year-over-year increase of 15 percent.

Prices have increased throughout King County. In July, the countywide median sale price was $398,000, up about 17 percent from a year ago.

NWMLS, which includes local real estate agents and brokers, has said rising prices and higher interest rates may be frustrating some buyers and noted the market's rebound could give some sellers "unrealistic expectations." Eastside sales took a slight month-over-month dip in June, which have been caused by shrinking inventory.


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