May Real Estate Sales Were Strong on Seattle's Eastside

Real Estate Sales on Seattle's Eastside

Seattle Eastside Residential Real Estate Sales Through May, 2011

On Seattle’s eastside, there have been 6 straight months with an increase in the number of real estate sales.  There’s clearly a trend here, although some people do not agree there’s a trend in Seattle real estate.  The trend in sales is matched by the slower increase in the number of homes for sale.  If you look at May last year, there were 3360 homes for sale on the eastside and this year there were only 2733 homes for sale.

The number of homes that sold in May, 2011 is close to the highest number of sales for last year, which happened in April.  Last year sales were inflated by the tax credit.  This year there’s no tax credit available.  This year’s real estate sales are fueled by buyers who feel comfortable moving forward and purchasing homes because prices are down, they want and need to buy. Interestingly, when I speak with buyers at open houses they tell me they’re  seeing some of the good homes moving rather quickly. The buyers are taking notice and buying those homes that are priced well.

In May 2011, there were 2733 homes for sale and 720 of these homes had offers. The absorption rate, the number of homes that sold during a month compared to the number for sale, was 26%.  One-fourth of the Seattle eastside homes for sale sold in May.

How is the real estate market doing in your area?

Posted on June 9, 2011 at 9:22 pm
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA Real Estate | Tagged , , , , , , ,

2 responses to “May Real Estate Sales Were Strong on Seattle's Eastside”

  1. Hey there! This post couldn’t be written any better! Reading through this post reminds me of my old room mate! He always kept talking about this. I will forward this write-up to him. Pretty sure he will have a good read. Thanks for sharing!

Leave a Reply

Your email address will not be published. Required fields are marked *