Unwrapping Real Estate Trends with Street Talk
Curious about what’s happening in the real estate market? It’s been an intriguing year, and as we step into December, Chris Davies breaks down the latest numbers with insights from our own Carment "CC" Crispeno on Street Talk.
November Trends: A Slowdown, but Perspective Matters
Looking back, November saw homes taking longer to sell compared to October. However, the market shows growth when we zoom out to the same period last year. It’s been a couple of rollercoaster years, but the long-term trends are steady.
Here are a few standout observations:
Listings: Month-to-month, new listings are down (seasonality plays a role here). However, year-over-year, listings have increased.
Prices: Median home prices continue their upward climb. The Eastside, for example, has seen its median price rise to $1.5 million—a 10% increase in year-over-year appreciation.
Inventory: King County’s inventory dropped to 1.5 months in November, far below the healthy 3-4 months we’d expect in a balanced market.
Buyer Hesitation: Interest rates remain the wild card. Rates unexpectedly rose earlier this year but are now stabilizing slightly. Experts predict the potential for rates to settle in the 6% range—a number that could reignite buyer activity.
What’s Next for 2025?
The market is dynamic, and we’re keeping a close watch on several key factors:
Will interest rates finally dip into that sweet spot to encourage buyers?
How will inventory levels respond to potential economic shifts and seasonal trends?
Can we expect continued median price appreciation across King County and beyond?
The best way to stay informed is by staying connected. That’s why Street Talk is your go-to source for real estate news, market updates, and expert predictions.
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Head to our Street Talk page for detailed discussions on interest rates, market forecasts, and practical advice for buyers and sellers. Don’t miss out—2025 is shaping up to be another pivotal year in real estate!
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