Real Estate Sales Continued to be Strong on Seattle's Eastside in July, 2011

Real Estate Sales Activity on Seattle's Eastside

Seattle Eastside Real Estate Sales Through July, 2011

The chart above speaks for itself.  July real estate sales were going strong on Seattle’s eastside.  More homes sold in July than in any  month since May, 2010. 

Will this surge in real estate sales continue?  Since the news regarding the stock market from last week, it remains to be seen if August will hold up to the sales growth we’ve seen since December of last year.

The number of properties for sale in King County still remains low compared to the last few summers when King County had over 14,000 properties for sale.   As of August 8th, there were 11,091 properties for sale in King County.  Here on the eastside, there were 2863 available properties.   If you compare the number of homes for sale on the Eastside this July to last July, there were 17% less homes and condos on the market this year.

In July there were 2863 homes for sale and 646 of these homes received offers and sold.  The absorption rate, the number of homes that sold during a month compared to the number for sale, was 22%. 

But what’s also important to note is 12% of the sales from June failed.   I had reported 661 sales in June, but this month I see only 587 of them stayed together.

The bottom line is more homes are selling than previously, but it’s also hard to keep the sales together.  Failed sales can be the result of poor inspections,  trouble with the buyer’s financing, an appraisal that does not agree with the sales price or a buyer getting cold feet and backing out.

How is the real estate market doing in your area?  Do you see similar trends?

Posted on August 12, 2011 at 9:46 am
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, Windermere Real Estate, Woodinville, WA Real Estate | Tagged , , , , , ,

How Many Real Estate Sales Were in Your Seattle-Eastside Neighborhood in June, 2011?

[googlemaps http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Bellevue,+WA&sll=37.0625,-95.677068&sspn=23.403932,58.271484&ie=UTF8&hq=&hnear=Bellevue,+King,+Washington&ll=47.610377,-122.200679&spn=0.310148,0.910492&z=10&output=embed&w=425&h=350]

How many homes sold in June, 2011 in your neighborhood?

June continued to be a strong month for real estate sales on Seattle’ eastside.  In fact, June may have been the strongest month for real estate sales on Seattle’s eastside in four years.  The Puget Sound Business Journal stated more homes sold this month than in recent months.  Every area did far better than previous months and previous years.   The Redmond and Bellevue area around Microsoft led the pack with almost 40% of the homes selling.  Almost every other area had a minimum of 20% of the homes selling.  More homes are selling than we’ve seen in years, but there are still a lot of homes that are languishing on the market.  Know your competition, so your home will land in the 20%+ homes that are selling.

A past client of mine is moving back to the eastside after about 5 years.  He was really surprised to hear that the homes near Microsoft are actually more affordable than those in South Bellevue.  The Bellevue Schools are getting a lot of press because several of the high schools are landing on top 100 lists of the top high schools.  But in reality, parts of Bellevue have  been more expensive for years because of the easy I-90 access to Seattle.  This may explain why the area around Microsoft is usually the hottest real estate market.  It’s a great location, close to jobs, has good schools, and slightly more affordable housing prices.

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%)

The plateau:  Sammamish, Issaquah, North Bend, and Fall City

The odds of selling a home were 23%.

Median sales price dropped: $525,000 to $494,950.

There were 765 homes for sale.

A total of 190 homes sold.

Redmond/East Bellevue

The odds of selling a home were 38%.

Median sales price decreased to $449,900 from $482,500.

193 homes were for sale

A total of 79 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 21%.

Median price decreased from $599,994 to $519,000

364 homes were for sale.

A total of 91  homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 23%.

Median price was down from $419,973 to $369,950.

572 homes were for sale.

A total of 147 homes sold.

Kirkland

The odds of selling a home was 19.5%.

Median price decreased from $624,950 to $535,000.

286 homes were for sale.

A total of 71 homes sold.

West Bellevue

The odds of selling a home were 20%.

Median pricing decreased from $890,000 to $719,950.

181 homes were for sale.

A total of 43 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 20.5%

Median pricing increased from $474,950 to $549,900.

331 homes were for sale.

A total of 77 homes sold.

If you’d like more specific information about your neighborhood or home, feel free to contact me.



Posted on July 19, 2011 at 11:18 am
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , , , , ,

June was a Great Month for Seattle Eastside Condo Sales

June was a great month for Seattle eastside condos sales.  There were 223 condo sales, the most in any month for this year.   April of 2010 was a stronger month for sales, but the numbers were inflated by the end of the 2010 tax credit.  Buyers were scrambling to buy a condo before April, 30th, 2010. 

The number of sales this year show a more realistic picture of buyers wanting to get out there and buy without feeling any pressure because of a tax credit.
Real Estate Sales on Seattle's Eastside
Seattle-Eastside Condo Sales Through June, 2011

There were 1140 condos for sale on the eastside and 233 of them received offers.  This means that 20% of the condos for sale had accepted offers, pretty good odds, considering the odds over the last few years have been more like 10-14%.  But that also means that 80% of the condos did not sell, so price and condition are still extremely important to getting a condo sold.

Know the competition when putting a condo up for sale.   Make sure the market is monitored on a weekly basis to keep up with the changes in the competition.  It’s important to remain competitive the whole time the property is on the market and the market can change quickly.

If you plan to sell your condo in the near future, feel free to contact me if you have questions about what you need to do to get ready to sell. Every seller has to do a few things before putting a home on the market.   If your home is positioned properly, it can be one of the lucky ones to get an offer.


Posted on July 15, 2011 at 12:17 pm
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, 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 , , , , ,

How Strong Were June, 2011 Real Estate Sales on Seattle's Eastside?

Home Sales on Seattle's Eastside Through June, 2011

Seattle-Eastside Real Estate Sales Through June, 2011

How strong were June, 2011 real estate sales on Seattle’s Eastside?  This summer’s real estate market is going to stay stronger than what we usually see during a Seattle summer. Traditionally, the highest number of homes for sale during a year comes near the end of July.  With this increased competition, it can make it more challenging to sell your home.  Although the number of eastside homes for sale has increased each month, the increase is nothing like the numbers we’ve seen during June of the last few years.

This year, the number of homes for sale is increasing, but at a much slower pace than last year.  In King County as a whole, there are 11,320 properties for sale.  Last year at the end of July, there were 14,639 properties on the market. This translates to 33% fewer homes on the market in King County this year.  On the eastside, there were 15% less homes for sale in June.  Since there’s still a great selection of homes for sale, the smaller number of available homes increases the odds of a home selling.

In fact, we had multiple offers on two listings this week alone.  I find we have a lot of showings on our listings, so buyers are definitely out there more than they usually are in the summer months.

The number of sales this past month dipped a little from the previous month, but only by 12 homes.  In May, we saw the highest number of homes sell in a month so far this year.  As a reminder, in April of last year, there’s a very high number of home sales.  This was artificially high as buyers tried to “cash in” on the tax credit.  This year, the sales numbers are not inflated by any other issue.  Real estate sales are fueled by the amount of job hiring in the area and by buyers who are more willing to move on with their lives, literally.

In June 2011, there were 2880 homes for sale and 661 of these homes had offers. The absorption rate, the number of homes that sold during a month compared to the number for sale, was 23%.  Almost one quarter of the Seattle eastside homes for sale sold in June.

How is the real estate market doing in your area?  Is it as strong as what we’re seeing here or is a little slower.

Posted on July 13, 2011 at 4:34 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , ,

How Many Real Estate Sales Were in Your Seattle Eastside Neighborhood in May, 2011?

[googlemaps http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Bellevue,+WA&sll=37.0625,-95.677068&sspn=23.403932,58.271484&ie=UTF8&hq=&hnear=Bellevue,+King,+Washington&ll=47.610377,-122.200679&spn=0.310148,0.910492&z=10&output=embed&w=425&h=350]

How many homes sold in May, 2011 in your neighborhood?

May real estate sales are proof again that real estate is local. Seattle eastside real estate is doing relatively well when compared to the last few years and to other parts of the country.  Regardless of what the national news reports about real estate, Seattle area real estate sales are better than most parts of the country.

In most eastside areas, roughly 1/4-1/3 of the homes on the market sold.  In some areas of the eastside, such as East Bellevue, Redmond near Microsoft, and Kirkland, more than 30% of the available homes sold.   These areas tend to shine, particularly East Bellevue and Redmond, near Microsoft. These neighborhoods have a mix of housing styles and prices and are located close to good schools and jobs.  The areas that are further out tend to be on the slower end of the sales spectrum. More home buyers in today’s market are looking for the convenience of living close to amenities.

I also should qualify my statements regarding the market.  Prices are not up, but remained stable in some areas and lost ground in others.

Seattle’s eastside has a “normal” real estate market when considering the market over the last few years.  A “normal” market means everything is happening from homes selling the minute they hit the market to homes taking months to sell and at reduced prices. The “hot” homes are selling.  “Hot” homes are great values with a good price tag, are staged and ready to go.  The homes that are not “hot” are taking a long time to sell and go through several price reductions before getting an offer.

From the Seattle Times Eric Pryne:

While the rise in pending sales was more modest on the Eastside, King County’s priciest area, closed single-family sales in May actually were up 6 percent from the same month last year — bucking the countywide trend — while prices fell just 4 percent, less than half the countywide drop.

Windermere’s Deasy attributed that in part to hiring by major Eastside employers. “People will start to see houses sell before they have a chance to act on them,” he predicted.

Eastside condo sales also were up from May 2010, climbing 15 percent. Countywide, however, condo sales fell nearly 4 percent, and the median price — $215,000 — was down 14 percent.

(Click on the cities below to see real estate trends for the past 5 years.  You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down.  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%)

The plateau:  Sammamish, Issaquah, North Bend, and Fall City

The odds of selling a home were 22%.

Median sales price dropped: $559,880 to $487,000.

There were 752 homes for sale.

A total of 186 homes sold.

Redmond/East Bellevue

The odds of selling a home were 34%.

Median sales price decreased to $409,000 from $480,000.

189 homes were for sale

A total of 73 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 29%.

Median price decreased from $624,975 to $538,000.

342 homes were for sale.

A total of 113  homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 28%.

Median price was down from $451,126 to $375,000.

541 homes were for sale.

A total of 177 homes sold.

Kirkland

The odds of selling a home was 30%.

Median price decreased from $575,000 to $538,500.

282 homes were for sale.

A total of 94 homes sold.

West Bellevue

The odds of selling a home were 29%.

Median pricing increased from $1,280,000 to $1,350,000.

167 homes were for sale.

A total of 51 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 21%

Median pricing decreased from $519,950 to $411,950.

325 homes were for sale.

A total of 74 homes sold.

If you’d like more specific information about your neighborhood or home, feel free to contact me.



Posted on June 15, 2011 at 3:49 pm
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Woodinville, WA Real Estate | Tagged , , , , , , , , , , , , , , , , ,

How Many Condos Sold on Seattle's Eastside in May, 2011?

Seattle eastside condos sales dropped a bit from April’s high, but sales were still strong.  Condos are still selling better than they have in the last few years.  The number of condos for sale has increased slightly each month since January, but the number is still really low when compared to last year.
Condo Real Estate Sales on Seattle's Eastside

Seattle Eastside Condo Sales Through May, 2011

There were 1126 condos for sale on the eastside and 207 of them received offers.  Eighteen percent of the condos for sale had accepted offers.  May’s odds of selling were far better than any month during all of 2010.  But the odds were still slightly less than 20%, so it’s very competitive out there.  Price and condition are so important.

Buyers still have a lot of choices and are generally not in a rush to buy, so if you’re selling your condo, be careful to keep up with the changes in the market.  Make sure to get an update on any competition at least every 2 weeks. Too much happens during a month’s time to wait 30 days to look at the competition.   Your condo could get left behind,  if better priced homes are up for sale.

If you plan to sell your condo in the near future, feel free to contact me if you have questions about what you need to do to get ready to sell. Every seller has to do a few things before putting a home on the market.   If your home is positioned properly, it can be one of the lucky ones to get an offer.


Posted on June 14, 2011 at 4:34 pm
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, 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 , , , , ,

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 , , , , , , ,

How Many Condos Sold on Seattle's Eastside in April, 2011?

The total number of condos for sale increased by only 6 more on Seattle’s eastside in April, so we are still at record low numbers for sale.  But the better news is the number of condo sales increased by 46 sales from March.  More than one-fifth of all the condos for sale in April got offers!    The odds of selling are, without a doubt, the best we’ve seen in years.
Knowing your competition and pricing your condo accordingly will put you in the 20%+ of condos that are selling.
April Condo Sales on Seattle's Eastside

Seattle Eastside Condo Sales Through April, 2011

 

If you plan to sell your condo in the near future, feel free to contact me if you have questions about what you need to do to get ready to sell. Every seller has to do a few things before putting a home on the market.   If your home is positioned properly, it can be one of the lucky ones to get an offer.


Posted on May 16, 2011 at 5:22 am
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Kirkland, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA Real Estate | Tagged , , , , ,

How Many Homes Sold in Your Seattle Eastside Neighborhood in April, 2011?

[googlemaps http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Bellevue,+WA&sll=37.0625,-95.677068&sspn=23.403932,58.271484&ie=UTF8&hq=&hnear=Bellevue,+King,+Washington&ll=47.610377,-122.200679&spn=0.310148,0.910492&z=10&output=embed&w=425&h=350]

How many homes sold in April, 2011 in your neighborhood?

The increasing number of home sales on Seattle’s eastside continues, despite what the news media is saying.  Every month of this year has had a big increase in the number of home sales over the previous month.  It would be great if our news reporting could be more balanced.  Our real estate market is more balanced, so let’s hope the media figures it out!  One local news source did peg the market fairly well.

Right now, Seattle’s eastside has the most “normal” real estate market that we’ve seen in years.  A “normal” market means everything is happening from homes selling the minute they hit the market to homes taking months to sell and at reduced prices. The “hot” homes are selling.  “Hot” homes are great values with a good price tag, are staged and ready to go.  The homes that are not “hot” are taking a long time to sell and go through several price reductions before getting an offer.

The other issue working in favor of a more positive real estate market is that in every area on the eastside, except Sammamish, there are fewer homes on the market.  Less supply=more demand.

(Click on the cities below to see real estate trends for the past 5 years.  You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down.  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%)

The plateau:  Sammamish, Issaquah, North Bend, and Fall City

The odds of selling a home were 20%.

Median sales price dropped: $514,950 to $499,900.

There were 701 homes for sale.

A total of 161 homes sold.

Redmond/East Bellevue

The odds of selling a home were 32%.

Median sales price decreased by 11% to $400,000 from $450,000.

176 homes were for sale

A total of 59 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 24%.

Median price decreased from $599,900 to $568,800.

322 homes were for sale.

A total of 91  homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 26%.

Median price was down from $409,500 to $397,000.

559 homes were for sale.

A total of 160 homes sold.

Kirkland

The odds of selling a home were 30%.

Median price decreased from $575,000 to $538,500Z .

282 homes were for sale.

A total of 94 homes sold.

West Bellevue

The odds of selling a home were 22%.

Median pricing was down from $849,000 to $649,995.

170 homes were for sale.

A total of 45 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 23%

Median pricing decreased from $514,995 to $462,475.

299 homes were for sale.

A total of 80 homes sold.

If you’d like more specific information about your neighborhood or home, feel free to contact me.



Posted on May 12, 2011 at 4:43 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , , , , , , , , ,

How Many Condos Sold on Seattle's Eastside in March, 2011?

There are now more than 1000  condos for sale on Seattle’s eastside, still a very low number.  Match it with the increases in the number of sales each month and the eastside condo market is having it’s best sales quarter in years!   One-fifth of all the condos for sale in March got offers!  This is the best odds there have been for condos for years, and I mean years.
Condo sales have been trending upwards, big time, since December of last year.  The number of condo sales almost doubled in March from December.  There’s a trend here in eastside condo sales, don’t you think?


 
Condo Real Estate on the Eastside

Seattle Eastside Condo Sales Through March 2011

 

If you plan to sell your condo in the near future, feel free to contact me if you have questions about what you need to do to get ready to sell. Every seller has to do a few things before putting a home on the market.   If your home is positioned properly, it can be one of the lucky ones to get an offer.


Posted on April 14, 2011 at 5:49 pm
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Market Statistics, Real Estate, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , ,