If you lived in Kirkland and had your home for sale last month, the odds of it selling in November were 31%, the strongest absorption rate to be found on the eastside.* The homes in East Bellevue and Redmond areas around Microsoft had a 29% chance of selling. Chances of selling ranged from 11-22.5% in the other eastside cities.
Homes in East Bellevue and Redmond near Microsoft sold the fastest on Seattle’s eastside. On average, homes there sold in 2 months. Market time for the other eastside cities, ranged from 3 to 4 months.
This is reasonable market time, indicating a balanced market between buyers and sellers. A balanced market means there’s a more normal market. Some homes sold quickly and others stayed on the market for a long time. Some homes sold for full price and others sold at steep discounts.
The cities below are grouped together to follow our MLS areas (multiple listing service). This is how our statistics are reported.
How was real estate market in your Seattle-eastside city in November, 2011?
The odds of selling a home were 31%.*
Median price decreased (y-o-y)** from $530,000 to $477,000.
188 homes were for sale.
A total of 58 homes sold.
Days on Market: 105
2. Redmond/East Bellevue
The odds of selling a home were 29%.
Median sales price decreased to $418,000 from $527,000.
163 homes were for sale
A total of 48 homes sold.
Days on the market: 60
3. South Bellevue/Issaquah
The odds of selling a home were 22.5%.
Median price increased from $538,000 to $550,000.
267 homes were for sale.
A total of 60 homes sold.
Days on market: 98
4. Redmond/Education Hill/ Carnation
The odds of selling a home were 22%
Median pricing decreased from $540,000 to $530,000.
247 homes were for sale.
A total of 54 homes sold.
Days on Market: 104
4. (tie) Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 22%.
Median price was down from $451,000 to $394,000.
481 homes were for sale.
A total of 105 homes sold.
Days on Market: 114
5. The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 18%.
Median sales price decreased from $460,000 to $441,000.
There were 580 homes for sale.
A total of 104 homes sold.
Days on the market: 119
6. West Bellevue
The odds of selling a home were 11%.
Median pricing decreased to $950,000 from $1,035,000.
127 homes were for sale.
A total of 14 homes sold.
Days on Market: 91
If you’d like more specific information about your neighborhood or home, feel free to contact either Brooks or me.
*(The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales, so if 10 out of 100 homes sold, the odds of selling would be 10/100 or 10%)
** (y-o-y) median pricing is comparing year over year numbers.