Non-geology major reply
Depends where the earthquake is and what plate is moving. In Alaska the 1964 earthquake produced uplift inland and dropping at the coast. They also experienced islands that moved nearly 50 feet and some experienced uplift while other coastlines dropped. Liquafaction has a lot to do with it too.
On the Calif. coast when the Pacific Plates moves under the crust you get uplift as in the 1989 quake that raised the elevation of the local mountain summit by several feet and local coast lines reported uplift up to 5 feet at some places, but it's not a uniform occurrence as some areas miles from the epicenter experienced subsidence from liquafaction.
It seems to be a balancing act.