King Snohomish County Monthly Supply - November 2009

King-Snohomish County Real Estate Map - October 2009

King Snohomish County Months Supply-November 2008

The November, 2009 Seattle real estate map looks a lot different than October and really different than last November.  More of the eastside of Seattle was in the “yellow,” a real estate market more evenly balanced between buyers and sellers, in October than in November, 2009.   The increase in real estate sales in the Seattle area in October was so huge, that the real estate market settled down a bit in November.

There was such  huge increase in Seattle-Eastside home sales in October 2009 with  100%+ increase in many neighborhoods.  This past November, the increase in Seattle area home sales was an average of 50% more than last November. This is still a terrific increase in Seattle home sales, but not off the charts like October.   Kirkland had the highest increase with 148% more homes selling this year than last.  The smallest increase at 9% was in area 530,  the East Bellevue and Redmond area near Microsoft.

The number of homes for sale is at the lowest point in almost three years.  We have not seen so few homes for sale since March, 2007.

I expect the extension and expansion of the 2010 home buyer credit to continue to spur real estate sales on.

As I’ve been mentioning, be prepared for any and everything with real estate sales in the coming months. There’s no “one size fits all.”  Home sales will depend on the price point, location, the home’s condition, the competition, and/or a combination of these things. Some homes will sell quickly and for a good price, others will still undergo significant price reductions to meet market expectations, and others will sell, but for less than one would expect.  This, actually, is what we expect to see in a normal, more balanced real estate market.

What do the numbers on the map mean? The map is divided into the numbered areas as defined by our Northwest Multiple Listing Service (NWMLS).  Downtown Bellevue is area 520 and East Bellevue is area 530, as an example.

What do the colors mean?

Red means it’s a sellers’ market, a sellers’ advantage.

Yellow means a balanced market between buyers and sellers.

Green means its a buyers’ market.

If you take each area as shown on the map and look to the area number on the side of the map, it will tell you how long it would take to sell every home currently for sale if no other home came up on the market in that area.