While the rental housing market is still on an upward tear, home prices have exhibited more consistent signs of stabilizing—especially compared to the bonkers year that was 2021. 

In Seattle proper, that means slower year-over-year price growth and even declines. In the suburbs, where we saw the most eye-popping competition, it means even as prices trend downward, those median home prices are still remarkably higher than they once were.

Rising

4. Kent

This spring, Kent saw median sale prices in the $700,000s. July's more modest $650,000 figure might indicate some relief is in sight for those seeking to purchase, but the year-over-year price change isn't nothing. The same time last year, that median price was only $560,000.
July 2022 median sale price: $650,000
Price growth year-over-year: 16.07 percent

3. Bellevue (West of 405)

What's that we say about context is everything? Sure, the west side of Bellevue, where the downtown commercial core is, didn't show the same 20-plus percentage price jumps it has in months past. But that median sale price is still well above the $2 million mark.
July 2022 median sale price: $2,242,500
Price growth year-over-year: 16.64 percent

2. Mercer Island

This burb has always been one of the most expensive places to live in the Seattle area, which says something about that robust price growth. It's not the 39.3 percent leap Mercer Island saw back in May, but considering its already hefty prices, it's certainly more than enough.
July 2022 median sale price: $2,295,000
Price growth year-over-year: 19.84 percent

1. Enumclaw

After the Eastside's domination of ridiculous year-over-year price change last year, it's kind of refreshing to see one of the more affordable communities make it to the top spot. A solid two-month inventory and sub-$700,000 pricing might attract even more buyers who have been riding out the real estate roller coaster. 
July 2022 median sale price: $675,000
Price growth year-over-year: 22.5 percent

Falling

4. Kirkland (Bridle Trails)

Back in May, Kirkland saw a massive 45.45 percent year-over-year price jump. In July, it was in the red. There are a couple of potential reasons: that hefty price tag is turning away potential buyers and the 2.43 months of inventory is the highest it's been all year, leaving more room for negotiation.
July 2022 median sale price: $1,294,485
Price growth year-over-year: -0.81 percent

3. Sammamish

Of all the Eastside suburbs, Sammamish has had the most even-keeled year-over-year price growth of the bunch. That's why the dip in July comes as somewhat of a surprise as prices likely aren't correcting from previously overzealous activity. 
July 2022 median sale price: $1,199,500
Price growth year-over-year: -2.08 percent

2. Redmond and Carnation

Are more Redmond dwellers renting instead of buying? Apartment prices have continued to go up (for six straight months now) yet home prices saw a modest dip. Perhaps the ample 2.45 months of inventory has something to do with it.
July 2022 median sale price: $1,087,000
Price growth year-over-year: -5.68 percent

1. Vashon Island

A small island community with scant available homes compared to other burbs is bound to see wild swings month to month. In July, the price growth trended steeply down from the median sale price of $950,000 in the same month the previous year.
July 2022 median sale price: $831,000
Price growth year-over-year: -12.53 percent