Archive for the ‘Woodinville, WA’ Category
buyers markets in Seattle, buying an eastside home, Eastside real estate, interest rates, interest rates-June 2010, King County Real Estate, Seattle Eastside real estate, Seattle real estate, sellers markets in Seattle, selling an eastside home, Windermere Real Eastate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on August 13, 2010 at 7:40 am
King & Snohomish County Real Estate, 7-31-10
There were no sellers’ market in July. “Red” indicates a sellers’ market with homes selling in less than 3 months. If you look at the map above, all the Seattle markets are either a buyer’s market or a balanced market between buyers and sellers.
There’s a mix on Seattle’s eastside. Some markets are buyers’ markets such as West Bellevue and the Sammamish plateau cities of Sammamish, North Bend, Preston, and Fall City. Homes in these real estate markets took on average over 6 months to sell. The majority of Seattle Eastside real estate was a balanced market with homes selling between 3-6 months.
The state of the real estate market is a huge contrast from just three months ago when there was no “green” on the map at all.
- King Snohomish Counties Real Estate Market 4-30-10
Clearly, the tax credit did its magic during that time. Is it the economy, job situation or is it the lack of urgency with interest rates slated to be low for a long time that is keeping buyers from making a home purchase? I’ve heard opinions about all three reasons as the cause for the slow moving real estate market. What do you think?
__________________________________________________________________________________
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 it’s 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.
Bellevue WA condos, condo sales, Issaquah WA condos, Kirkland WA condos, Redmond WA condos, Sammamish WA condos, Seattle-eastside condo sales
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on August 12, 2010 at 1:29 pm
Seattle Eastside Condo Sales July 2010
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
July, 2010 1552 condos for sale 144 condos sold 9% odds of selling.
June, 2010 1487 condos for sale 131 (was 154) condos sold 9% (was 10) % odds of selling.
May, 2010 1425 condos for sale 117 (was 125) condos sold 8% (was 13%) odds of selling.*
July, 2009 1441 condos for sale 159 condos sold, 11% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close. Some of the reasons sales fail are the buyer and seller don’t agree on the building inspection, the condo does not appraise for the sales price or the buyer’s financing does not come through.
Sales have clearly slowed down from April’s peak. This may be because many first time buyers rushed to buy a home while the tax credit was in place and not as many buyers are out there right now. It also could be because people are fearful of the future. It’s unfortunate as there are some good properties out there and great interest rates.
Bellevue Real Estate, Issaquah Real Estate, Redmond real estate, Sammamish real estate, Seattle Eastside real estate, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on August 12, 2010 at 10:38 am
View Larger Map
How did July, 2009 stack up to July, 2010 in your neighborhood?
(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.)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 12.5%.
Median sales price increased from $525,000 to $539,950.
The number of homes for sale increased by 2% and sales were down by 24% from last year.
West Redmond/East Bellevue
The odds of selling a home were 16%.
Median sales price dropped from $470,000 to $422,475.
The number of homes for sale increased by 8% and sales were down 27%.
South Bellevue/Issaquah
The odds of selling a home were 16.5%.
Median price decreased from $617,000 to $599,475.
The number of homes for sale dropped by 16% and sales were UP by 5%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 14%.
Median price dropped by 2%, from $460,000 to $449,950.
The number of homes for sale declined by 9% and sales were down by 13.5%.
Kirkland
The odds of selling a home were 15%.
Median price decreased to $549,900 from $599,000.
The number of homes for sale declined by 16.5% and sales were UP by 3%.
West Bellevue
The odds of selling a home were 11.5%.
Median pricing was UP from $950,000 to $1,299,000.
The number of homes for sale decreased by 24% and sales decreased by 31%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 17%
Median pricing increased from $499,000 to $548,000.
The number of homes for sale increased by 1% and sales decreased by 5%.
Although real estate numbers are mostly down on Seattle’s eastside, 3 areas, similar to last month, showed an increase in median prices while the others all showed a reduction. Most likely, this was a result of more high end sales than seen previously this year. Many of the first time buyers bought because of the tax credit, so there are fewer first time home buyers making entry level purchases.
The high end real estate market is performing better than it was earlier this year. In July, West Bellevue had a 37% increase in the median pricing, a direct result of the homes that sold that month. This number greatly influenced the trend in the eastside showing the median pricing to increase in July. Median pricing is a function of the actual homes that sell during that particular month.
So I’d recommend not getting too excited if the median pricing went up this past month in your neighborhood. It will be important to see if the trend continues and it’s not just because more high end homes are selling.
The number of home sales were down in almost all of the Seattle eastside neighborhoods, which follows a typical pattern for summer when people choose to do other things, like go on vacation, than look for a home. Slower sales may also be impacted by the fear about jobs and the economy.
Bellevue Real Estate, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish home sales, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, financing, real estate on August 11, 2010 at 9:50 am
Seattle-Eastside Residential Real Estate Sales, July 2010
The odds of selling a home on the Eastside in July, 2010 ranged from a low of 11.5% to a high of 17%, with an average 14% absorption rate.(The absorption rate is the number of homes for sale in a month divided by the actual number of homes sold that month.)
July, 2010 3468 homes for sale 501 homes sold 14% odds of selling.
June, 2010 3360 homes for sale 475 (was 503) homes sold 14%(was 15%) odds of selling.*
May, 2010 3209 homes for sale 492 homes sold 15% odds of selling.*
July, 2009 3819 homes for sale 516 homes sold 13.5 % odds of selling.
June, 2009 3859 homes for sale 563 homes sold 15% odds of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. Each month some sales fall apart and don’t close. A lower number of home sales may be reported at a later date to show the actual number of sales that did close.
For the past few months, the absorption rate for all the Seattle-eastside areas has been in the teens, hovering around 13-15%. May, June, and July all had similar absorption rates. Since May of 2009, the number of homes that have sold each month has not varied all that much, with the exception of March and April of this year. March and April had higher sales because of the tax credit.
Where we see more of a difference is in the number of homes for sale on Seattle’s eastside. Last year there were 3819 homes for sale in July, 2009. This year there are 10% less homes on the market. But even with less homes on the market, the odds of selling are about the same.
We have the lowest interest rates since 1971. Plus, our Seattle eastside real estate market is clearly a buyers’ market again, since the absorption rate is so low. It’s very obvious when shown on a map of the area. I’ll post a map of the Seattle eastside showing where buyers and sellers markets are located later this week. The reality is, however, that most of the real estate markets are buyers’ markets right now.
So why are real estate sales so sluggish? My guess is the “fear factor.” People are still worried about the economy. Plus, with interest rates predicted to remain low for the foreseeable future, there’s also no sense of urgency to buy.
Why do you think the Seattle eastside real estate market is slower?
_____________________________________________________________
July, 2009 Seattle-Eastside real estate market compared to July, 2010:
- The average asking price of pending homes (recently sold homes) went from $558,397 to $573,617. (This does not show what the homes actually sold for.)
- This week, there were 14,414 King County homes (houses and condos) for sale.
- Two weeks ago may have been the peak of the number of homes for sale this year when 14,639 homes were on the market.
- Home sales on Seattle’s Eastside: down 13%.
- Number of homes for sale on Seattle’s Eastside: down 10%
Best odds of selling: Carnation and Redmond, from downtown to north and east, with 17% of the homes getting accepted offers. Ironically, last month this area had the worst odds of selling at 9%.
Worst odds of selling: West Bellevue, with 11.5% of the homes getting accepted offers.
Biggest increase in sales from last year: A 5% increase in South Bellevue home sales, which is the biggest increase.
Smallest increase in sales from last year: Kirkland, with a 3% increase. There were only two areas with an increase in the number of home sales on Seattle’s eastside.
Decline in real estate sales from last year: There was a decline in 5 out of the 7 Seattle-eastside areas with the largest decline in home sales in West Bellevue with a 31% decline in the number of homes sold.
The peak of homes for sale in 2008: July, 4370 homes.
The peak of homes for sale in 2009: June, 3859 homes.
The number of eastside homes for sale at the start of 2010: 2584 homes
The number of eastside homes for sale in July, 2010: 3468 homes.
Rate of home sales that failed and did not close: 6%
For a picture of King County sales, check out The Seattle Times. The headline states sales are down, but prices are up. Keep in mind the headline may not represent each area. Prices are up slightly in some areas, down in others, and sales are down in 5 out of 7 eastside areas.
Seattle real estate, Woodinville real estate, Bellevue Real Estate, Kirkland real estate, Redmond real estate, Issaquah Real Estate, Sammamish home sales
In Bellevue Real Estate, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Redmond, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, market statistics, real estate on July 12, 2010 at 6:04 pm
Seattle-Eastside Home Sales, June 2010
The odds of selling a home on the Eastside in June, 2010 ranged from a low of 9% to a high of 23%, with an average 15% absorption rate. For the past few months, the absorption rate for all the Seattle-eastside areas had been in the double digits. This month, downtown Redmond and Carnation are in the single digits, at 9%. It’s a stark contrast to April, 2010 with its low of 20% to a high of 35%, averaging a 27% absorption rate.
June’s real estate activity is more similar to May, when the numbers started looking more like last year’s real estate rather than the highs of April, 2010. It’s ironic, in a sense, the tax credit did offer buyers a true incentive to buy, but if one looks at the total picture, there still may be many opportunities to “get a deal.” With the lowest interest rates in 30 years and the higher number of homes on the market, it’s becoming more of a buyer’s market again. ( I’ll be posting the map showing the different markets later this week.) Plus, summer is the time to play outside for Seattleites, so there are usually less buyers competing for homes.
(The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
June, 2010 3360 homes for sale 503 homes sold 15 % odds of selling.
May, 2010 3209 homes for sale 492 (was 563) homes sold 15% (was 17.5%) odds of selling.*
June, 2009 3859 homes for sale 563 homes sold 15% odds of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. Each month some sales fall apart and don’t close. A lower number of home sales may be reported at a later date to show the actual number of sales that did close.
_____________________________________________________________
June, 2009 Seattle-Eastside real estate market compared to June, 2010:
- Surprisingly, the average list price of pending homes (recently sold) went from $547,381 to $553,772.
- As of this past week, there were 14,235 King County homes (houses and condos) for sale.
- Is this the peak of the real estate market for the number of homes for sale this year?
- Home sales on Seattle’s Eastside: down 20%, which follows a much smaller drop of 7% in May.
- Number of homes for sale on Seattle’s Eastside: down 11%
Best odds of selling: Redmond, near Microsoft, and East Bellevue.
Worst odds of selling: Carnation and Redmond, from downtown to north and east, with 9% of the homes getting accepted offers.
Biggest increase in sales from last year: A very small 3% increase in East Bellevue and Redmond, near Microsoft, home sales.
Smallest increase in sales from last year: Same as above. This area had the only increase in Seattle-eastside home sales in June.
Decline in real estate sales from last year: There was a decline in 6 out of the 7 Seattle-eastside areas. Redmond and Carnation had the largest decline in home sales with a 43% decline in the number of homes sold. This area also had the largest decline in home sales last month.
The peak of homes for sale in 2008: July, 4370 homes.
The peak of homes for sale in 2009: June, 3859 homes.
The number of eastside homes for sale at the start of 2010: 2584 homes
The number of eastside homes for sale now: 3360 homes.
Rate of home sales that failed and did not close: 13%
The sun is out now in Seattle (although a little late today), which tends to slow Seattle Eastside real estate sales. The number of home sales could remain on the lower side in the near future for two reasons. One is the slow down after the tax credit rush and the sunny weather and summer vacations. People in Seattle like to play outside in the sun.
The slower home sales is ironic, given the high number of homes for sale, which means lots of choices and the screamingly low interest rates. I believe there are some great deals out there for buyers right now.
For a picture of King County sales, check out The Seattle Times.
Bellevue, Bellevue schools, Interlake High, International School, Redmond High, Seattle, Seattle Eastside, Skyline High, Top High Schools in the country, WA, Woodinville High
In Bellevue, WA, Exploring the Eastside, For Buyers, For Homeowners, For Sellers, Issaquah, WA, Woodinville, WA on June 17, 2010 at 6:47 pm
Bellevue WA condos, condo sales, Issaquah WA condos, Kirkland WA condos, Redmond WA condos, Sammamish WA condos, Seattle-eastside condo sales
In Bellevue Real Estate, Issaquah Real Estate, Kirkland, Redmond, Sammamish, WA Real Estate, Woodinville, WA, real estate on May 17, 2010 at 9:28 am
Seattle - Eastside Condo Sales April 2010
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
April, 2010 1437 condos for sale 316 condos sold, 22% odds of selling.
March, 2010 1356 condos for sale, 241 (was 281) condos sold, 18% (was 21%) odds of selling.*
April, 2009 1315 condos for sale 155 condos sold, 12% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close. Seventeen percent of condo sales originally reported in March failed to close. Some of the reasons sales fail are the buyer and seller don’t agree on the building inspection, the condo does not appraise for the sales price or the buyer’s financing does not come through.
Seattle-eastside condo sales were popping the past two months with the strongest sales seen in years. With the 2010 tax credit behind us, we should continue to see people who need to make a move out there buying and selling their home. We may see a little of a lull in Seattle area condo sales, but I expect condo sales to get back to business as usual.
Bellevue Real Estate, Issaquah Real Estate, Redmond real estate, Seattle Eastside real estate, Seattle real estate, Woodinville real estate
In Bellevue Real Estate, Issaquah Real Estate, Kirkland, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, real estate on May 14, 2010 at 1:32 pm
View Larger Map
How did April, 2009 stack up to April, 2010 in your neighborhood?
(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.)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 31%.
Median sales price dropped from $524,000 to $514,950.
The number of homes for sale dropped by 20% and sales were up by 75% from last year.
West Redmond/East Bellevue
The odds of selling a home were 35%.
Median sales price dropped from $500,000 to $450,000.
The number of homes for sale dropped by 2% and sales were up by 57%.
South Bellevue/Issaquah
The odds of selling a home were 34%.
Median price decreased to $599,900 from $649,000.
The number of homes for sale dropped by 21% and sales were up 23%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 26%.
Median price increased to $409,500 from $399,950.
The number of homes for sale declined by 12% and sales were up by 18%.
Kirkland
The odds of selling a home were 22%.
Median price decreased to $575,000 from $649,000.
The number of homes for sale declined by 23% and sales were up by 102%.
West Bellevue
The odds of selling a home were 20%.
Median pricing was down from $1,100,000 to $849,000.
The number of homes for sale decreased by 27% and sales increased by 62%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 23%
Median pricing decreased from $554,950 to $514,995.
The number of homes for sale decreased by 11% and sales increased by 32%.
When compared to April, 2009, only one area of Seattle’s eastside showed an increase in median prices. This area encompasses Woodinville, Bothell, Kenmore, and Duvall.
The most significant decrease in pricing was in West Bellevue, just like last month. Home values in West Bellevue dropped by 23%. The other Seattle-eastside neighborhoods experienced a reduction in sales price, but not by as much.
Home sales, on the other hand, continued to be strong all over the eastside. Sales increases ranged from 18% in the Woodinville area to 102% in Kirkland, the only area with a triple digit increase in home sales this month.
Eighteen percent less homes are for sale on the eastside this year than last year.
What’s happening in your area? Are home sales strong? Do you expect it to continue?
In 2009 stimulus package, 2010 Home buyer Tax Credit, Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Redmond, Sammamish, WA Real Estate, WA real estate, Windermere Real Estate, Woodinville, WA, real estate on January 13, 2010 at 1:16 pm
Seattle-Eastside Condo Real Estate Sales, Dec 2009
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
December. 2009 1174 condos for sale, 125 condos sold, 11% odds of selling.
November, 2009 1289 condos for sale 140 (now 126)condos sold, 11% (now 10%) odds of selling.
December, 2008 1150 condos for sale 70 condos sold 6% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close. Thirteen percent of condo sales originally reported in October failed to close.
The number of condos for sale also dropped by 115 units, which is 9% decrease in the number of condos available for sale on Seattle’s eastside. The eastside condo sales remained about the same as November. The year finished out with sales happening, but not as many as September and October. Those months were affected by the 2009 first time home buyer’s tax credit.
With the extension and expansion of the home buyer tax credit into 2010, there’s the added benefit of a tax credit, but only if you buy before the end of April, 2010.
Bellevue Real Estate, buyers market in Seattle, Eastside real estate, King County Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, Seattle home prices, Seattle real estate, Seattle/Eastside real estate, sellers market in Seattle, Snohomish County real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on December 17, 2009 at 2:24 pm
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.
2010 home buyer tax credits, Bellevue condo sales, Bellevue Real Estate, buying a condo on Seattle’s eastside, Redmond condo sales, Redmond real estate, Seattle Eastside real estate, Seattle-eastside condo sales, selling a condo on Seattle’s eastside
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, financing, market statistics, real estate on December 16, 2009 at 11:47 am
Seattle Eastside Condo Sales, Nov 2009
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
November, 2009 1289 condos for sale 140 condos sold, 11% odds of selling.
October, 2009 1363 condos for sale 239 (now 207) condos sold 17% (now 15%) odds of selling.*
November, 2008 1243 condos for sale 85 condos sold 7% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close. Thirteen percent of condo sales originally reported in October failed to close.
The number of condos for sale also dropped by 74 units, which is 6% decrease in the number of condos available for sale on Seattle’s eastside. The number of Seattle Eastside condo sales dropped from the last couple of months to numbers more similar to what we saw in the summer.
With only about 10 out of 100 condos selling, it’s a great time to buy. There’s not much competition with other buyers. With the extension and expansion of the home buyer tax credit into 2010, there’s the added benefit of a tax credit, but only if you buy before the end of April, 2010.
Bellevue home sales, Bellevue Real Estate, Issaquah home sales, Issaquah Real Estate, Kirkland Home Sales, Kirkland real estate, Redmond home sales, Redmond real estate, Sammamish home sales, Seattle real estate, Seattle-eastside real estate. selling a home on Seattle’ s eastside, Woodinville home sales, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, Built Green and Sustainable Living, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on December 15, 2009 at 11:47 am
How did November, 2009 stack up to November, 2008 in your neighborhood?
(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.)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 23%.
Median sales price remained the same, $552,500.
The number of homes for sale dropped by 27% and sales were up by 77% from last year.
West Redmond/East Bellevue
The odds of selling a home were 17%.
Median sales price remained the same, $479,000.
The number of homes for sale dropped by 18% and sales were up by 9%.
South Bellevue/Issaquah
The odds of selling a home were 20%.
Median price was the same at $685,000.
The number of homes for sale dropped by 21% and sales were up 71%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 13.5%.
Median price was the same at $411,750.
The number of homes for sale declined by 16% and sales were up by 29%.
Kirkland
The odds of selling a home were 15%.
Median price was the same at $739,000.
The number of homes for sale declined by 21% and sales were up by 148%.
West Bellevue
The odds of selling a home were 14%.
Median pricing was the same at $996,500.
The number of homes for sale decreased by 22% and sales increased by 68%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 16%
Median pricing was the same at $559,900.
The number of homes for sale decreased by 21% and sales increased by 19%.
Last month I reported an increase in home prices in the Redmond/Education Hill/Carnation area and was surprised since all the other cities had lower median home prices. This month, however, almost all the median home prices in the different Seattle eastside cities remained the same as November, 2008. This is good news as prices may have stabilized. Since the number of homes for sale on Seattle’s eastside stands at the lowest number since March, 2007, it bodes well for Seattle real estate. With the extension of the home buyer tax credit, smaller numbers of homes for sale, low interest rates, real estate activity should be brisk in the first part of the year. For those reasons, if you want to sell your home and move in 2010, do it now, rather than later in 2010.
Bellevue home sales, Bellevue Real Estate, Issaquah home sales, Issaquah Real Estate, Kirkland Home Sales, Kirkland real estate, Redmond home sales, Redmond real estate, Sammamish home sales, Seattle real estate, Seattle-eastside real estate. selling a home on Seattle’ s eastside, Woodinville home sales, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on December 15, 2009 at 10:04 am
Eastside Real Estate Sales, November 2009
The odds of selling a home on the Eastside in November 2009 ranged from a low of 13.5 % to a high of 23%, with an average 17% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
November, 2009 2943 homes for sale 503 homes sold 17 % odds of selling.
October, 2009 3240 homes for sale 644(now 561) homes sold 19%(now 17%) odds of selling.*
November, 2008 3645 homes for sale 238 homes sold 6.5% odds of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. (see explanation below) Each month some sales fall apart and don’t close. A lower number of home sales may be reported at a later date to show the actual number of sales that did close.
_____________________________________________________________
November, 2008 Seattle-Eastside real estate market compared to November, 2009:
Several important trends this month:
- Home sales were up in all Seattle-Eastside cities.
- The number of homes for sale dropped to the lowest number, below 3000 homes, since March, 2007. This is a very important factor in our real estate market. For most of the past two years, there’s been a large number of homes on the market. In 2005 and 2006, when the real estate market was booming, we saw the numbers of homes for sale on the eastside in the 2000-3000 range.
- The median prices were UP slightly, by 2%.
- Home sales on Seattle’s Eastside: up 50.5%, a terrific increase in sales, although a much smaller increase than in October, when the increase was over 100%.
Sales prices: UP 2.1%.
Number of homes for sale: down 22%.
Best odds of selling: For the second month in a row, the cities of Sammamish, Issaquah, Fall City, Snohomish, and North Bend, with 23% of the homes selling.
Worst odds of selling: Woodinville, North Kirkland, Bothell, Kenmore and Duvall, with 13% odds of homes selling.
Biggest increase in sales from last year: Kirkland, with 148% more home sales.
Last month, numbers like this were more common in all the eastside cities. Not so this month with Sammamish, Issaquah, etc. coming in with the second highest increase at 77%.
Smallest increase in sales from last year: Again it’s the East Bellevue/Redmond area around Microsoft, with the smallest increase this month, only 9%.
Home sales in Bellevue and Redmond have been so strong in comparison to other eastside areas for so long. Now other Seattle-Eastside neighborhoods are catching up.
Decline in real estate sales: None on the eastside.
The peak of homes for sale in 2008: July, 4370 homes.
The peak of homes for sale in 2009: June, 3859 homes.
Rate of home sales that failed this month: 13%
Why home sales fail to close:
- This can be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there.
- Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.” Many of these offers do not stay together because it often takes months for a short sale to get approved by the bank. There’s no guarantee the bank will accept an offer. I’ve heard only 4% of the short sales actually close in King County. Since there’s a huge number on the market, if you’re someone willing to take a chance and accept that your offer may never be looked at or accepted, then a short sale may be a way to go. With the extension of the home buyer tax credit, home buyers have more time to go after short sales. However, months may still be needed to get the short sale closed, if it is to close at all. Since most buyers truly want to purchase a home and close on it, I would recommend NOT making offers on short sales. I’d also recommend reading as much as you can about short sales before attempting to make an offer on a short sale. This way you’ll be prepared if you choose to go the route of a short sale.
- My team and I are closing on a short sale this week. The original offer was written in August. There were two lienholders, two banks with mortgages on the property, which complicated the process. Short sales can happen, but a buyer has to expect a rocky ride through the sales process, if the banks actually respond to the offer. Be ready for most anything and most of all, be patient and not under any time constraints.
2010 home buyer tax credits, Bellevue condo sales, Bellevue Real Estate, buying a condo on Seattle’s eastside, Redmond condo sales, Redmond real estate, Seattle Eastside real estate, Seattle-eastside condo sales, selling a condo on Seattle's eastside
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 11, 2009 at 12:35 pm
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
October, 2009 1363 condos for sale 239 condos sold 17% odds of selling
September, 2009 1407 condos for sale (now 210) 236 condos sold (now 15%) 17% odds of selling.
October, 2008 1351 condos for sale 116 condos sold 9% odds of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close.
More Seattle Eastside condos are selling than earlier this year, although the absorption rate is still under 20%.
Important news for all condo buyers:
With the extension and extension of the home buyer tax credit to include not only first time buyers, but many move up buyers, I’m hoping the number of condo sales on Seattle’s eastside will increase in the near term.
Bellevue home sales, Bellevue Real Estate, Issaquah home sales, Issaquah Real Estate, Kirkland Home Sales, Kirkland real estate, Redmond home sales, Redmond real estate, Sammamish home sales, Seattle real estate, Seattle-eastside real estate. selling a home on Seattle' s eastside, Woodinville home sales, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 10, 2009 at 12:04 pm
How did October, 2009 stack up to October, 2008 in your neighborhood?
(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.)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 26%.
Median sales price decreased by 9% from $559,000 to $509,000.
The number of homes for sale dropped by 33% and sales were up by 119% from last year.
West Redmond/East Bellevue
The odds of selling a home were 19%.
Median sales price decreased to $445,000 from $484,725, a decrease of 9%
The number of homes for sale dropped by 23.5% and sales were up by 53%.
South Bellevue/Issaquah
The odds of selling a home were 23%.
Median price increased by 4% to $592,500 from $569,900.
The number of homes for sale dropped by 21% and sales were up 156%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 16%.
Median price was down to $429,975 from $533,925, a 19.5% decrease.
The number of homes for sale declined by 15% and sales were up by 89%.
Kirkland
The odds of selling a home were 18%.
Median price decreased by 29.5%, from $709,475 to $500,000.
The number of homes for sale declined by 23% and sales were up by 142%.
West Bellevue
The odds of selling a home were 14%.
Median pricing decreased by 18% from $1,399,000 to $1,150,000.
The number of homes for sale decreased by 16% and sales increased by 100%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 23%
Median pricing increased by 6% to $449,995 from $472,425.
The number of homes for sale decreased by 16% and sales increased by 190%.
The increase in sales was huge all over the Eastside. Surprising, but maybe not so surprising, the increase in sales was the smallest in the area that has traditionally been the strongest over the last few years, the East Bellevue/Redmond area near Microsoft. This could be the result of a few factors. One is Microsoft is not hiring as many people and is also doing some layoffs. Also, with the area so strong in home sales over the years, other areas are starting to catch up more in the number of sales.
Two areas saw an increase in median pricing from last year, downtown Redmond and Carnation and South Bellevue and Issaquah. This is a real surprise, since every area has shown a decline in prices. This may be an anomaly, so I’ll check it out next month.
$8000 first home buyer credit, buying a condo on Seattle's eastside, buying a condo on the eastside, condo sales, Eastside real estate, FHA spot approval, Seattle/Eastside, Seattle/Eastside condo sales, Seattle/Eastside real estate, selling a condo on Seattle's eastside, selling a condo on the eastside
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Mortgages, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on September 15, 2009 at 10:09 am
Seattle/Eastside Condo Sales, August 2009
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
August, 2009 1429 condos for sale 206 condos sold 14% chance of selling.
July, 2009 1441 condos for sale 203 (now 171) condos sold 14% (now 12%) chance of selling
August, 2009 1495 condos for sale 159 condos sold 10% chance of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed. Some of the sales originally reported last month failed and did not close.
More Seattle Eastside condos are selling. Numbers are more than double the figures from January and February of this year. But still, some sales are falling apart and not closing because of inspection, financing issues and appraisal issues.
Sales don’t close for a variety of reasons: an appraisal that came in lower than the selling price, an inspection that both buyer and seller couldn’t agree upon or a lender who didn’t put the loan package together properly. Unfortunately, there are other reasons sales fail to close, such as short sales in which a seller is selling a condo for less than is owed on the property and the bank does not agree to sell the property at the price agreed upon between the buyer and seller.
Important news for all condo buyers: FHA spot approvals will be going away. If a unit in a condo association could meet designated FHA guidelines and the whole complex is not approved, then an offer and approval for this spot FHA loan must be approved by the lender by October 1st, only two weeks away. FHA financing allows for a borrower to put just 3.5% down.
The absence of FHA spot approvals and the end of the $8000 first time home buyer tax credit could affect the number of condo sales in the future.
Bellevue Real Estate, Issaquah Real Estate, King County Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, Seattle, Seattle real estate, Seattle/Eastside real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, real estate on September 14, 2009 at 2:02 pm
Seattle-Eastside Real Estate Activity August 2009
The chances of selling a home on the Eastside in August 2009 ranged from a low of 15% to a high of 28%, with an average 19% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
August, 2009 3604 homes for sale 683 homes sold 19% chance of selling.
July, 2009 3819 homes for sale 631 (now 538) homes sold* 19%(now 14%) chance of selling.*
August, 2008 4346 homes for sale 433 homes sold 9% chance of selling.
*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed. Some sales from each month fall apart and don’t close, hence a lower number of sold homes may be reported at a later date.
_____________________________________________________________
(Click on the cities below to see real estate trends for the past 5 years. You can see the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. If you look at the charts, you’ll notice the total number of homes for sale and the number of homes sold can vary slightly from the above chart. The information for the charts is gathered at slightly different times so can vary slightly. Regardless, the charts show the same trends.)
(click on city names for a chart showing the latest stats in the area)
How did August, 2009 stack up to August, 2008 in your neighborhood?
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The chances of selling a home were 19%.
Median sales price decreased by 10% from $572,000 to $515,000.
The number of homes for sale declined by 22% and sales were up by 21% from last year.
West Redmond/East Bellevue
The chances of selling a home were 28%.
Median sales price decreased to $475,000 from $549,000, a decrease of 13.5%
The number of homes for sale dropped by 23% and sales were up by 12%.
South Bellevue
The chances of selling a home were 17%.
Median price decreased by 15% to $499,500 from $592,475.
The number of homes for sale dropped by 15% and sales were up 55%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The chances of selling a home were 18%.
Median price was down to $425,000 from $478,062, an 11% decrease.
The number of homes for sale declined by 17% from last year and sales were up by 50%.
Kirkland
The chances of selling a home were 21%.
Median price decreased by 10.5%, from $649,950 to $581,919.
The number of homes for sale declined by 15% and sales were up by a whopping 83%.
West Bellevue
The chances of selling a home were 15%.
Median pricing decreased by 10% from $999,950 to $899,475.
The number of homes for sale decreased by 12% and sales increased by a truly whopping 129%.
Redmond/Education Hill/ Carnation
The chances of selling a home were 21%
Median pricing decreased by 10% from $599,950 to $542,250.
The number of homes for sale decreased by 12% and sales increased by 27%.
——————————————————————–
Thoughts on the August 2009 Seattle Eastside real estate market:
Is there a change in the Seattle-Eastside real estate market? You bet! The key indicator is homes are not only selling, but more homes in the high end are selling. This means that buyers in all price ranges are less afraid to go out and buy. This uptick in real estate sales is not just the result of first time buyers looking for the $8000 tax credit, but for home buyers in every price range.
Most eastside homes had 19% chance of selling. Nineteen out of 100 homes had offers last month and are now pending.
Home sales on Seattle’s Eastside were up 42% and prices were down 8.5% overall.
Several areas had a huge increase in the number of homes sold:
West Bellevue 129%
Kirkland 83%
South Bellevue 55%
- Best odds of selling: once again it’s Redmond, near Microsoft, and East Bellevue with a 28% chance of a home selling.
- Most difficult odds of selling: West Bellevue, with a 13% chance of selling a home. Yet, West Bellevue had the biggest sales increase from last year, a whopping 128% more homes sold this August than last year.
- Last month the median sales price in Kirkland and West Bellevue both were up over July, 2008. Looking at August’s median pricing, every neighborhood experienced a decline in median pricing combined with a strong uptick in home sales.
- If you look at the chart above, it’s clear the number of homes for sale is less than last year when the peak of homes for sale happened in July of 2008. I’m hoping this year we hit the peak of homes for sale on Seattle’s Eastside back in July, when 13,835 homes were for sale. So far, this is holding true and the number of homes for sale on Seattle’s eastside keeps dropping each month.
- It’s still looking like a lot of home sales fail to close. There’s a high fallout rate with sales, as you can see from July’s numbers alone, almost a 100 home sales did not close! Given that originally 631 sales were reported for the month in July and 538 sales were reported a month later, 15% of July’s sales failed. This is a high number of failed sales and could be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there.
- Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.” Many of these offers do not stay together because it often takes months for a short sale to get approved by the bank. There is no guarantee the bank will ever look at an offer or approve and accept it. I’ve heard that only 4% of the short sales actually closed in King County. Since there are a huge number on the market, if you are someone who’s willing to take a chance on a property, are willing to accept that your offer may never be looked at or accepted, then a short sale may be a way to go. However, since most buyers truly want to purchase a home and close on it, I would recommend NOT making offers on short sales.
Here’ s what the local news media, The Seattle PI and The Seattle Times reported about August real estate activity. The Times echoed my thoughts above as to the fact that the higher end of the real estate market has new life.
Bellevue Real Estate, Eastside real estate, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, Woodinille real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics on August 12, 2009 at 9:03 pm
Eastside Residential Real Estate July 2009
The chances of selling a home on the Eastside in July 2009 ranged from a low of 13% to a high of 27%, with an average 16.5% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
July, 2009 3819 homes for sale, 631 homes sold 16.5% chance of selling.
June, 2009 3859 homes for sale, 675 ( now 599) homes sold 17%( now 15%) chance of selling.*
July, 2008 4370 homes for sale 494 homes sold 11% chance of selling.
*Adjusted from previous month’s original numbers to reflect the actual number of homes sold and closed. Some sales from each month fall apart and don’t close, hence a lower number of sold homes may be reported.
_____________________________________________________________
(Click on the cities below to see real estate trends for the past 5 years. You can see the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. If you look at the charts, you’ll notice the total number of homes for sale and the number of homes sold can vary slightly from the above chart. The information for the charts is gathered at slightly different times so can vary slightly. Regardless, the charts show the same trends.)
(click on city names for a chart showing the latest stats in the area)
How did July, 2009 stack up to July, 2008 in your neighborhood?
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The chances of selling were 18%.
Median sales price decreased by 9% from $575,000 to $525,000.
The number of homes for sale declined by 21% and sales were up by 24% from last year.
West Redmond/East Bellevue
The chances of selling were 27%.
Median sales price decreased to $470,000 from $574,990 a decrease of 18%.
The number of homes for sale dropped by 21% and sales were up by 40%. (77 vs. 55 sales)
South Bellevue
The chances of selling were 15%.
Median price increased by 2% to $617,000 from $604,950
The number of homes for sale dropped by 14% and sales were even with last year as 80 sales happened July-08 and July-09.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The chances of selling were 16%.
Median price was down to $460,000 from $475,000, a 3% decrease.
The number of homes for sale declined by 9% from last year and sales were up by 6%.
Kirkland
The chances of selling were 14%.
Median price increased by 5%, from $569,000 to $599,000.
The number of homes for sale declined by 11% and sales were up by 27.5%.
West Bellevue
The chances of selling were 13%.
Median pricing decreased by 46% from $1,748,000 to $950,000.
The number of homes for sale decreased by 4.5% and sales increased by 165%.
Redmond/Education Hill/ Carnation
The chances of selling were 17%
Median pricing decreased by 9% from $549,375 to $499,000.
the number of homes for sale decreased by 7% and sales increased by 33%.
——————————————————————–
Thoughts on the July 2009 Seattle Eastside real estate market:
- Most eastside homes had 16.5% chance of selling. Sixteen to 17 out of 100 homes had offers last month and are now pending.
- It looks like 11% of the home sales fell out of escrow, as the absorption rate for June dropped by 2% from 17 to 15%. Originally, there were 675 pending sales, so 76 offers did not stay together. This is a high number of failed sales and could be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there. Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.” Many of these offers do not stay together because it often takes months to resolve a sale between the buyer, seller, and the bank.
- Best odds of selling: once again it’s Redmond, near Microsoft, and East Bellevue with a 27% chance.
- Most difficult odds of selling: West Bellevue, with a 13% chance of selling a home. Yet, West Bellevue had the biggest increase from last year with the chance of getting a home sold, a whopping 165% more homes sold this July than last year, 45 vs. 17.
- In a couple of areas prices actually went up this month from last year, quite an unusual occurrence these days. West Bellevue and Kirkland had a slightly higher median price this past July than July, 2008.
- Overall, the number of homes for sale is less than last year. I’m hoping we hit the peak of homes for sale on Seattle’s eastside back in July, when 13,835 homes were for sale. Home sales were up 22% and prices were down 7%.
King County Real Estate, MLS, NWMLS, Seattle Eastside real estate, Seattle real estate, Snohomish County real estate, Windermere Real Estate
In Bellevue Real Estate, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, King County Real Estate, King County, WA, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA real estate, Woodinville, WA, market statistics, real estate on June 15, 2009 at 3:15 pm
The Seattle area real estate market is going from green to yellow. The map colors have changed on these real estate maps, representing a shift in the real estate market.
King Snohomish County Months Supply Area Map May 2009
King Snohomish County Months Supply Area Map-May 2008
Here’s what these maps show:
Each NWMLS (Northwest Multiple Listing Service) real estate area in the two counties is shown on the maps. For example, if you look at the eastside, you’ll see an area labeled 530, which is East Bellevue and parts of Redmond, and 560, which is Kirkland.
Every area of the NWMLS is then evaluated by looking at the number of homes for sale and the number of homes that sell each month in that area. If there’s an overabundance of homes for sale compared to the number of homes selling, then it’s a buyers’ market. If there are a reasonable number of homes selling each month compared to the number of homes on the market, then it’s a balanced market between buyer and seller. Lastly, if the number of homes is selling well compared to how many are for sale, then it’s a sellers’ market.
What do the colors on the maps represent?
- Green represents a buyers’ market.
- Yellow represents a balanced market between buyer and seller.
- Red represents a sellers’ market.
Along the sides of the maps, each real estate area is listed with the number of months it would take to sell all the homes currently for sale in the area. Let’s look at area 530 again. In area 530, if no other home comes on the market, it would take about 4.4 months for the homes to sell. In Kirkland, area 560, if no other home comes on the market, it would take 8.1 months to sell the homes for sale. East Bellevue and Redmond near Microsoft are color coded in yellow. With 4.4 months of inventory, it has a more balanced market. Kirkland is colored green. It’s a buyer’s market because it would take 8.1 months to sell the homes on the market.
Looking at 2009′s map, it’s clear how much the Seattle area real estate market has changed to a more balanced market. Most King and Snohomish county real estate areas are colored yellow, showing a balance between buyers and sellers.
May of 2008 was very definitely a buyers’ market and a buyers’ market only. In May of 2008, green for a buyers’ market was the predominant color on the map. In May of 2009, yellow is the dominant color, representing a more balanced real estate market.
Bellevue, Hopelink, King County, Redmond, vounteering in King County
In Bellevue, WA, Issaquah, WA, King County, WA, Kirkland, Redmond, Sammamish, WA, Seattle, Woodinville, WA on May 28, 2009 at 11:54 am
Denise Stephens from Hope-link asked that I post this press release because Hope-link is in need of more volunteers:
Prospective volunteers can learn more at orientation in Bellevue, Bothell, Redmond or Carnation. Bellevue, Wash. – Hopelink, a 38-year-old nonprofit agency helping families, senior citizens and people with disabilities in east and north King County, needs more volunteers at its centers in Redmond, Bellevue, Kirkland, Shoreline, Bothell and Carnation. Hopelink relies upon volunteers for such jobs as sorting food in its food banks, helping adults learn to read or do basic math or study for the GED exams, delivering food to homebound clients, or answering phones and helping with administrative tasks. In April alone, more than 700 volunteers donated over 6,000 hours to help Hopelink programs and clients.
Hopelink continues to need new volunteers over age 16 and volunteers between the ages of 12 and 16 with parent/guardian supervision. We welcome anyone interested to an orientation meeting to learn more about Hopelink and its many volunteer opportunities. Space is limited and orientation sessions start promptly, so please arrive early. • Wednesday, June 3, 2009, at Hopelink’s Bellevue center in the Learning Center conference room, 14812 Main St., in Bellevue. (Note: this is a new location for the Bellevue orientations.) Parking is limited on site.
Please contact the Volunteer Coordinator at volunteer@hope-link.org for information about off site parking options. This location is served by Metro routes 221 and 247. An afternoon orientation will start promptly at 1:00 p.m. and end at 2:30 p.m. An evening orientation will start promptly at 7:00 p.m. and end at 8:30 p.m. • Thursday, June 4, 2009, from 10:00 to 11:30 a.m. at Hopelink’s Bothell center, 18220 96th Ave. NE in Bothell. • Tuesday, June 9, 2009, from 5:00 to 6:30 p.m. at Hopelink’s Redmond center. The orientation will be held in the Rainier Room conference room of the Family Resource Center complex (where Hopelink is located), Building A, 16225 NE 87th St., in Redmond. The Redmond volunteer orientation is a new addition to the schedule. • Wednesday, June 10, 2009, from 2:00 to 3:30 p.m. at Hopelink’s Carnation center, 31957 Commercial Street in Carnation.
For more information, go to www.hope-link.org/takeaction/volunteer. For information on how young people between middle school and high school age can help Hopelink, please visit http://youthlink.hope-link.org/ Since 1971, Hopelink has helped homeless and low income families, children, seniors and people with disabilities make lasting change in their lives. Hopelink promotes self-sufficiency by helping people meet their needs for food, shelter, homelessness prevention, family development, transportation and adult literacy. For more information on Hopelink and its services, call 425.869.6000 or visit www.hope-link.org.
$8000 first time home buyer tax incentive, Bellevue Real Estate, buying a condo on Seattle’s eastside, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Sammamish real estate, selling a condo on Seattle’s eastside, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, financing, market statistics, real estate on May 19, 2009 at 5:52 pm
Seattle Eastside April 2009 condo real estate statistics
April, 2009 1315 condos for sale,177 sold, 13% chance of selling a condo
(The absorption rate, the percentage of condos selling, is the number of condos for sale in any given month divided by the actual number of condos sold that month. So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)
(pended means the number of condos that got offers this month)
Much good news for the Seattle-Eastside condo sales during April, 2009. April represented the highest number of condo sales on Seattle’s eastside since June, 2008. Only 15 more condos were offered for sale, but 67 more sold in April than in March. I’m sure the first time home buyer credit is spurring on all the activity.
The other piece of good news is HUD, the office of Housing and Urban Development, announced the $8000 first time home buyer tax credit can be used towards a buyer’s down payment. This is a boon to first time buyers. The actual workings of the program have not been released yet, but I will report on it as soon as I hear about it. If you have a lender you trust, you can also contact them to get more information about the program. Remember, the tax incentive must be used before December 1st, 2009. To be safe, if you plan to use it, you should consider buying before the end of October, so your home or condo purchase will close in time for you to be eligible for the credit.
Bellevue Real Estate, buying a home in Seattle, buying a home on Seattle’s eastside, Issaquah Real Estate, Kirkland real estate, Redmond real estate, Seattle Eastside real estate, Seattle real estate, selling a home in Seattle, selling a home on Seattle’s eastside, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, financing, real estate on May 15, 2009 at 7:32 am
Seattle Eastside Real Estate Activity April 2009
The media was hopping with news stories about the increase in April, 2009 real estate sales in the Seattle area. Local TV stations KOMO and KING5, both had reports on the more positive real estate market. The Seattle Times, Seattle PI.com, and BizJournals all had stories with the same theme.
The chances of selling a home on the Eastside in April 2009 ranged from a low of 10% to a high of 23%, with an average 16% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
April, 2009 3600 homes for sale 573 homes sold 16% chance of selling.
March, 2009 3711 homes for sale 372 homes sold 10% chance of selling.
April, 2008 4017 homes for sale 489 homes sold 12% chance of selling
_____________________________________________________________
(This monthly Seattle/Eastside real estate report now includes the chart above because it’s clear and easy to read. You can still find the MLS charts by clicking on each of the cities below. Those charts have some of the same information as the chart above, but also show the real estate trends for the last 5 years, including median pricing for each city and whether the number of homes for sale and the number of sales are up or down. If you look at the charts by city, you’ll notice the total number of homes for sale and the number of homes sold can vary slightly from the chart above. This is because the information for the charts is gathered at slightly different times. Regardless of the exact numbers, it’s clear the charts show the same trends, which is the most important piece of information.)
(click on city names for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall Ciy
Median sales price decreased by 12% from $597,639 to $524,000.
Inventory was down by 12% and sales were down by 12% from last year.
West Redmond/East Bellevue
Median sales price decreased from $608,998 to $500,000 a decrease of 18%.
Inventory was down 6% and sales were up 15%.
South Bellevue
Median price increased by 8% from $600,000 to $649,900.
Inventory was down by 15% and sales were up 70%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
Median price was down to $399,950 from $484,450, a 17% decrease.
Inventory was down by 6% from last year and sales were up by 44%.
Kirkland
Median price decreased by 8%, from $707,950 to $649,000.
Inventory was down by 8% and sales were up by 9.5%.
West Bellevue
Median pricing decreased by21% from $1,399,000 to $1,100,000.
Inventory increased by 5 % and sales increased by 18.5%.
Redmond/Education Hill/ Carnation
Median pricing decreased by 14% from $652,450 to $554,950.
Inventory decreased by 9% and sales decreased by 5%.
——————————————————————–
Thoughts on the April 2009 Seattle Eastside real estate market:
- Ok, everyone, take a deep breath. Things are looking up! Seattle -Eastside homes are selling. Every eastside area had a double digit absorption rate, for the first time in months.
- All areas saw some very positive changes this past month. The positive changes are in bold print. Everycity had some positive change in the real estate activity. The number of homes for sale, the inventory, was down in every city, except one. The number of homes sold was up in all cities except two!
- The stand-out area, which is often the case, is the area in East Bellevue and Redmond, close to Microsoft. This area’s absorption rate was the last to slow down and is the first to come back to life. Twenty-three percent of the homes for sale sold there last month.
- Are real estate prices increasing on Seattle’s Eastside? No, the number of sales has increased dramatically though.
- April had the most number of home sales since June of last year. In King County overall, six of the last ten weeks have had the most number of sales since July, 2007.
- In some areas on Seattle’s Eastside, we are seeing a more balanced market between buyers and sellers.
- The $8000 buyers credit will now be available for a down payment. This is great news, which should help bolster the real estate market even more.
buying a home, real estate, Seattle, Seattle real estate, Seattle/Eastside real estate, selling a home
In Bellevue Real Estate, For Sellers, Issaquah Real Estate, Kirkland, Redmond, Sammamish, WA, Seattle real estate, Woodinville, WA, market statistics, real estate, real estate opinion on February 18, 2009 at 5:01 pm
The chances of selling a home on the Eastside in January 2009 ranged from a low of 7% to a high of 11%, with an average 10% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
January 2009 3294 home available 325 homes sold 10% chance of selling.
December 2008 3169 homes available 243 homes sold, 8% chance of selling.
January 2008 2963 homes available 346 homes sold, 12% chance of selling.
_____________________________________________________________
(click on each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had 11 % chance of getting a home sold, the same as last month and DOWN from13 % last year. Median home prices were DOWN, from $619,900 to $535,000. Inventory was down by 4% and sales were down by 24% from last year.
West Redmond/East Bellevue
Sellers had a 11% chance of getting a home sold, the same as last month, and DOWN from 15% last year. Median sales price decreased from $567,250 to $480,000, a decrease of 15%. Inventory was up 20% and sales were down 14%.
South Bellevue
Sellers had an 11% chance of getting a home sold, UP from 6% last month and UP from 8% last year. Median price decreased by 11% from $630,000 to $559,900. Inventory was up 1% and sales were down 58%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
Sellers had a 10% chance of selling a home, UP from 7% last month and DOWN from 14% last year. Median price was down to $438,200 from $459,950, a 5% decrease. Inventory was up by 27% from last year and sales were down by 9%.
Kirkland
Sellers had a 11% chance of selling a home, UP from 6% last month and UP from 10% last year. Median price decreased by 21%, to $521,440 from $652,250. Inventory was up by 2% and sales were down by 10.5%.
West Bellevue
Sellers had a 7% chance of selling a home, UP from 3% last month, and the same as last year. Median pricing decreased by 10% to $937,500 from $1,027,500. Inventory increased by 43 % and sales decreased by 43%.
Redmond/Education Hill/ Carnation
Sellers had a 9% chance of selling a home, UP from 7% from last month, and DOWN from 12% last year. Median pricing decreased by 27% from $664,925 to $484,950. Inventory increased by 17% and sales decreased by 13%.
——————————————————————–
Some thoughts on January’s real estate market:
- No big surprise again, all eastside areas experienced a reduction in both pricing and sales.
- Most eastside neighborhoods had similar chances of having a home sell in January.
- All areas, except the plateau area of Sammamish, Snoqualmie, Fall City, Issaquah, and North Bend, had an increase in the number of homes for sale when compared to last year. There were fewer homes available to buy on the plateau this January than last, about 30 less homes
- The chances of selling in the core neighborhoods of Kirkland, area 560, was actually a little better than last year, but only by 1%. The same thing is true for (area 500), South Bellevue and parts of Issaquah. Sellers had a 4% greater chance of getting their home sold this January than last.
The number of homes for sale on the eastside is creeping up slightly. As of February 16th, there are 12,678 homes available, whereas 2009 started with 11,363 homes for sale. This is the typical pattern each year. As spring progresses, more people think about moving. I anticipate more homes coming on the market in the next few months. If you’re thinking of moving, your chances of getting your home sold are far better with less competition now, so it’s best not to wait. Those of you who are thinking of waiting until school is over, should be thinking about putting your home on the market in March or April, so you can get moved in the summer. If you wait until school is over, then you may not have your home sold and your move complete by the time the next school year starts.
As I’ve been saying for the past year, this is a market for realistic sellers. If you want to make a move, be prepared to have your home in show condition and priced right. If you’re planning a move into a new home, since it clearly is a buyer’s market, you can negotiate in your favor then. Homes are selling, as you see above, but it usually is the homes that are the best value that get sold.
Contact a Realtor well before you want to sell to make sure you’ll be ready when you do want to sell. As always, if the market or your situation means it’s best for you to stay put, then that’s what you should do.
Molbak's, Poinsettia festival, Woodinville, Woodinville Washington
In Bellevue Real Estate, Exploring the Eastside, For Homeowners, Local news and information, Woodinville, WA, not real estate on December 18, 2008 at 2:49 pm
condo buyers, condo buying, condo sellers, condo selling, condominium sales, condominiums, real estate, sales absorption rate, Seattle/Eastside, Seattle/Eastside real estate, town home sales. town home buyers, town homes
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 21, 2008 at 2:09 pm
Sellers had a 12% chance of selling a condo on Seattle’s Eastside in October, 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
October, 2008 1324 condos for sale, 153 condos sold, 12% chance of selling.
September, 2008 1414 condos for sale, 173 condos sold, 12% chance of selling.
October, 2007 1121 condos for sale, 202 condos sold, 18 % chance of selling.
The number of condos/ town homes for sale on the Eastside is dropping from its summer high. The chance of selling a condo, however, has remained pretty constant throughout the year with 12-13% of the available condos selling each month.
Median pricing was down this month by about 13%, dropping from $345,416 to $300,215. Inventory is up by 18% from last October and sales have dropped by 24%.
I’ve seen some great condos sell and all of the ones that have sold were well priced and showed well, the key to success in this market. Sellers must be ahead of the curve in pricing or they stay among the pack of available condos.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on November 20, 2008 at 4:46 pm
The chances of selling a home on the Eastside in October 2008 ranged from a low of 6% to a high of 11%, with an average 8% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
October 2008 3975 homes available, 320 sold, 8% chance of selling.
September 2008 4117 homes available, 513 sold, 12% chance of selling.
October 2007 3398 homes available, 461 sold, 14% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 9 % chance of getting a home sold, DOWN from 14% last month and DOWN from 17% last year. Median home prices were essentially the same, from $559,000 to $559,194. Inventory was up by 13% and sales were down by 40% from last year.
West Redmond/East Bellevue
Sellers had a 11% chance of getting a home sold, the SAME as last month, and DOWN from 14 % last year. Median sales price decreased from $609,950 to $484,725, a decrease of 20.5%. Inventory was up 13% and sales were down 10%.
South Bellevue
Sellers had an 8% chance of getting a home sold, the same as last month, and DOWN from 12% last year. Median price decreased by 14% to $569,900 from $664,950. Inventory was up 5% and sales were down 32%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
Sellers had a 9% chance of selling a home, DOWN from 12% last month and DOWN from 13% last year. Median price was down to $533,925 from $549,250, a 3% decrease. Inventory was up by 17.5% from last year and sales were down by 17%.
Kirkland
Sellers had a 6% chance of selling a home, DOWN from 9% last month and DOWN from 11% last year. Median price increased by 8%, to $709,475 from $657,475. Inventory was up by 17% and sales were up down by 41%.
West Bellevue
Sellers had a 6% chance of selling a home, DOWN from 8% last month, and DOWN from 10% last year. Median pricing decreased by 6% to $1,399,000 from $1,492,000. Inventory increased by 45.5% and sales decreased by 9%.
Redmond/Education Hill/ Carnation
Sellers had a 7% chance of selling a home, DOWN from 17% from last month, and DOWN from 16% last year. Median pricing decreased by 21% (oops, typo of 421% before!) from $599,475 to $472,425. Inventory increased by 24% and sales decreased by 44%.
October has been the toughest month to get a home sold on the eastside so far this year. This is not a big surprise, given the volatility of the economy, the bailout, and the pre-election jitters. Most neighborhoods saw the chances of selling drop to the single digits, with the exception being the East Bellevue and Redmond area around Microsoft. Eleven percent of the homes for sale in that area received offers last month, while it was toughest to get a home sold in Kirkland as only 6% of the homes sold.
Every area on the eastside experienced a decline in the number of sales when compared to October of last year. Ironically, most of this September’s sales were higher than September of last year. The number of homes for sale on the Eastside has dropped back below 4000 homes for the first time this year.
Median prices have dropped back, in many cases, to 2006 levels. In some areas, such as East Bellevue and Redmond around Microsoft, the median price has dropped below $500,000 for the first time since the beginning of 2006. Even though the number of sales are down, the median price continues to jump up or down. In Kirkland, the toughest area for a sale last month, prices went up almost 8%, while in Sammamish, sales were down, but prices remained stable. As I’ve mentioned in the past, it’s important to look at trends in each area over a few months. Prices and sales go up and down in each area and there isn’t always a correlation between the two.
Will things continue to drop or will they stabilize? Having the election behind us and giving the country a more optimistic focus than we have seen in a long time, it will be interesting to follow. It take a few months after the election before we see any changes.
But if you follow Forbes magazine, Seattle is looked at as the number one city to bounce back.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate, real estate opinion on October 15, 2008 at 10:05 pm
The chances of selling a home on the Eastside in September 2008 ranged from a low of 8% to a high of 17.5%, with an average 12% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers. (Revised numbers)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
September 2008 4117 homes available, 513 sold, 12% chance of selling.
August 2008 4240 homes available, 503 sold, 12% chance of selling.
July 2008 4332 homes available, 543 sold, 12.5% chance of selling.
September 2007 3529 homes available, 443 sold, 12% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 14% chance of getting a home sold, UP from 13% last month and DOWN from 15% last year. Median home prices were down by 14%, from $602,500 to $519,000. Inventory was up by 10% and sales up by 1.5% from last year.
West Redmond/East Bellevue
Sellers had a 17.5% chance of getting a home sold, DOWN from 19% last month, and DOWN from 19 % last year. Median sales price decreased from $575,000 to $550,000, a decrease of 5%. Inventory was up 24% and sales were up 16%.
South Bellevue
Sellers had a 11% chance of selling a home, THE SAME as last month and UP from 10% last year. Median price decreased by 5% to $594,500 from $627,250. Inventory was up 7% and sales were up 19%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 12% chance of selling a home, UP from 11% last month and DOWN from 13% last year. Median price was down to $459,950 from $495,000, a 7% decrease. Inventory was up by 19% from last year and sales were up by 15%.
Kirkland
Sellers had a 9% chance of selling a home, THE SAME as last month and DOWN from 12.5% last year. Median price increased by 2%, to $695,000 from $679,975. Inventory was up by 20% and sales were up by 17%.
West Bellevue
Sellers had a 8% chance of selling a home, UP from 6% last month, and THE SAME as last year. Median pricing decreased by 15% to $1,314,000 from $1,550,000. Inventory increased by 49.5% and sales increased by 53%.
Redmond/Education Hill/ Carnation
Sellers had a 17% chance of selling a home, UP from 14% from last month, and UP from 11% last year. Median pricing decreased by 4.5% from $549,950 to $525,000. Inventory increased by 11% and sales increased by 58.5%!
Most eastside neighborhoods showed similar real estate activity in September as in August. The chances of selling a home hardly varied with the exception of the Redmond’s Education and Novelty Hill areas and Carnation. The area experienced a 3% increase over August activity. This area also saw the largest increase in sales from last September, 58% more homes sold.
Homes in West Bellevue had only an 8% chance of selling. However, West Bellevue had a huge increase in inventory, almost 50%, resulting in 53% more sales this year than last year at this time.
All the eastside areas dropped in median pricing, with the exception of Kirkland, which was up 2% this month.
The chances of selling a home on the eastside have not varied much in most neighborhoods over the past few months. However, in almost all neighborhoods, prices are down and inventory and sales are up.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on September 18, 2008 at 2:49 pm
The chances
of selling a home on the Eastside in August 2008 ranged from a low of 6% to a high of 19%, with an average 12% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
August 2008 4240 homes available, 503 sold, 12% chance of selling.
July 2008 4332 homes available, 543 sold, 12.5% chance of selling.
August 2007 3336 homes available, 643 sold, 19% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 13% chance of getting a home sold, UP from 12% last month and DOWN from 21% last year. Median home prices were up by 4%, from $549,250 to $572,000. Inventory was up by 19% and sales declined by 22% from last year.
West Redmond/East Bellevue
Sellers had a 19% chance of getting a home sold, UP from 16% last month, and DOWN from 25 % last year. Median sales price decreased from $582,475 to $549,000, a decrease of 6%. Inventory was up 43% and sales were down 12%.
South Bellevue
Sellers had a 11% chance of selling a home, DOWN from 14% last month and DOWN from 20% last year. Median price decreased by 8.5% to $592,475 from $647,800. Inventory was up 14% and sales were down 38%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 11% chance of selling a home, DOWN from 15% last month and DOWN from 16% last year. Median price was down to $478,062 from $502,500, a 5% decrease. Inventory was up by 30% from last year and sales declined by 14%.
Kirkland
Sellers had a 9% chance of selling a home, DOWN from 10% last month and DOWN from 14% last year. Median price declined by 11%, from $649,950 to $585,000. Inventory was up by 29% and sales were down by 14.5%.
West Bellevue
Sellers had a 6% chance of selling a home, UP from 5%, and DOWN from 19% last year. Median pricing decreased by 37% to $999,950 from $1,582,500. Inventory increased by 73% and sales declined by 42%.
Redmond/Education Hill/ Carnation
Sellers had a 14% chance of selling a home, the same as last month, and DOWN from 26% last year. Median pricing decreased by 8% from $650,000 to $599,950. Inventory increased by 19% and sales dropped by 34.5%.
July and August’s market activity was very similar, with most neighborhoods seeing the same chances for selling in both months. However, the top area for sales on the Eastside, with the largest increase in chances from last month, was the East Bellevue/West Redmond/Microsoft area. The chances of selling your home in South Bellevue, North Kirkland, Woodinville, Kenmore, Bothell, and Duvall dropped by few percentage points. For the first time this year, West Bellevue’s median price dipped below $1,000,000. We’ve not seen median pricing in West Bellevue below $1,000,000 since 2006.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Be the best home out there and your home will sell. People are still relocating, changing jobs, needing more space, reasons that still exist for making a move.
The Seattle/Eastside area is still far more fortunate than many other areas of the country. For example, Southern California is looking at a 34% price drop from last year.
condo buyers, condo buying, condo sellers, condo selling, condominium sales, condominiums, real estate, sales absdorption rate, Seattle/Eastside, Seattle/Eastside real estate, town home sales. town home buyers, town homes
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on August 12, 2008 at 2:26 pm
Sellers had a 12.7% chance of selling a condo on Seattle’s Eastside in July of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
July, 2008 1476 condos for sale, 187 condos sold, 12.7% chance of selling.
June, 2008 1427 condos for sale, 194 condos sold, 13.6% chance of selling.
May, 2008 1472 condos for sale, 211 condos sold, 14% chance of selling.
July, 2007 918 condos for sale, 332 condos sold, 37% chance of selling.
The chances of selling a condo have been pretty consistent for the last three months, varying only by a percent. The number of available condos shrunk a little in June, but is now slightly over the number of condos available to buy in May.
Are condo prices still going up? Yes. However, this past month and in May, the increase in value was less than one percent. Increases in value have slowed down considerably, while the inventory and the chance of selling has stayed fairly constant. Cream puffs are selling, other condos are taking a very long time to sell. If you are buying, consider the best condo with the least amount of issues.
Is the condo located near employment, transportation, schools, shopping?
Is the condo in good condition?
Is the condo in a quiet location?
Does the condo have a strong amount in reserves?
Are the condo dues low?
Do the dues cover exterior maintanence, water, sewer, and garbage?
Anything else you should look for? Do let me know.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Issaquah, King County Real Estate, Kirkland, Kirkland real estate, market statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, WA, WA real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on August 12, 2008 at 1:58 pm
The chances
of selling a home on the Eastside in July 2008 ranged from a low of 5% to a high of 16%, with an average 12.5% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.) Numbers will be rounded off to the nearest whole number, unless the number is exactly .5% between two numbers.
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
July 2008 4332 homes available, 543 sold, 12.5% chance of selling
June 2008 4154 homes available, 635 sold, 15.2 % chance of selling.
May 2008 4349 homes available, 522 sold, 12% chance of selling.
July 2007 3253 homes available, 773 sold, 23.8% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 12% chance of getting a home sold, DOWN from 17% last month and DOWN from 22% last year. Median home prices were up by 1%, from $569,800 to $575,000. Inventory was up by 18% and sales declined by 33.5% from last year.
West Redmond/East Bellevue
Sellers had a 16% chance of getting a home sold, DOWN from 23% last month, and DOWN from 34% last year. Median sales price decreased from $599,000 to $574,990, a decrease of 4%. Inventory was up 70% and sales were down 20%.
South Bellevue
Sellers had a 14% chance of selling a home, UP from 12.5% last month and DOWN from 23% last year. Median price decreased by 19% to $604,950 from $749,975. Inventory was up 24% and sales were down 24.5%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 15% chance of selling a home, DOWN from 15.5% last month and DOWN from 26% last year. Median price was down to $475,000 from $550,000, a 14% decrease. Inventory was up by 35% from last year and sales declined by 23%.
Kirkland
Sellers had a 10% chance of selling a home, DOWN from 16.5% last month and DOWN from 22% last year. Median price declined by 25%, from $757,475 to $569,000. Inventory was up by 25% and sales were down by 38%.
West Bellevue
Sellers had a 5% chance of selling a home, DOWN from 9.5%, and DOWN from 19% last year. Median pricing decreased by 29% to $1,354,975 from $1,748,000. Inventory increased by 85% and sales declined by 50%.
Redmond/Education Hill/ Carnation
Sellers had a 14% chance of selling a home, UP (barely) from 13% last month, and DOWN from 22% last year. Median pricing decreased by 15% from $644,435 to $549,375. Inventory increased by 18% and sales dropped by 25%.
The activity for May is included at the top of this article because July’s market performance is very similar to the market performance in May. June was a stronger month for sales for most of the Eastside neighborhoods than July has been. South Bellevue, and Education Hill, Carnation, and Union Hill areas were all stronger performing areas, but only by a fraction. Every other area of the Eastside showed less of an absorption rate than in June. West Bellevue, Medina and Clyde Hill, our most expensive areas, were hit the hardest with the biggest decline in activity and pricing.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Remember sellers, it’s price and condition in this market. Homes are selling, but as we all know, there’s competition. Be the best home out there and your home will sell.
condo buyers, condo buying, condo seller, condo selling, condominium sales, condominiums, monthly real estate statistics, real estate, Seattle real estate, Seattle/Eastside real estate, town home sales, town homes
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on July 17, 2008 at 8:58 pm
Sellers had a 13.6% chance of selling a condo on Seattle’s Eastside in June of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
June, 2008 1427 condos for sale, 194 condos sold, 13.6% chance of selling.
May, 2008 1472 condos for sale, 211 condos sold, 14% chance of selling.
June, 2007 840 condos for sale, 382 condos sold, 45.5% chance of selling.
The absorption rate, the chance of getting your home sold, did not vary much from May to June of this year. Inventory is actually down slightly, but the chances of selling were almost the same during the past two months.
Condo values on the Eastside continue to go up, but last month the increase was negligible at only .5% from June of last year. The actual number of sales is down considerably, by almost 50%. This means the cream of the crop of condos are getting the offers and other condos are just sitting on the market. Pick your condo/town home purchase wisely.
Bellevue, Bellevue Real Estate, Carnation, Eastside real estate, Education Hill, home buyers, home sellers, home selling, Kirkland, Kirkland real estate, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle, Seattle Eastside, Seattle real estate, union Hill, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on July 17, 2008 at 10:23 am
The chances
of selling a home on the Eastside in June 2008 ranged from a low of 9.5% to a high of 23.2%, with an average 15.2% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
June 2008 4154 homes available, 635 sold, 15.2 % chance of selling.
May, 2008 4349 homes available, 522 sold, 12% chance of selling.
June 2007 3107 homes available, 841 sold, 27% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 16.7% chance of getting a home sold, UP from 12.7% last month and DOWN from 25.3% last year. Median home prices were down by 2.6%, from $604,475 to $589,000. Inventory was up by 17.5% and sales declined by 22.6% from last year.
West Redmond/East Bellevue
Sellers had a 23.2% chance of getting a home sold, UP from 13.5% last month, and DOWN from 42.5% last year. Median sales price decreased from $624,500 to $549,500, a decrease of 12%. Inventory was up 80.4% and sales were down 1.3%.
South Bellevue
Sellers had a 12.5% chance of selling a home, UP from 11.5% last month and DOWN from 24.9% last year. Median price decreased by 15.7% to $588,975 from $699,000. Inventory was up 25% and sales were down 37.4%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 15.5% chance of selling a home, UP from 9.6% last month and DOWN from 26.8% last year. Median price was down to $498,875 from $522,475, a 4.5% decrease. Inventory was up by 37% from last year and sales declined by 20.9%.
Kirkland
Sellers had a 16.5% chance of selling a home, UP from 9.6% last month and DOWN from 23.5% last year. Median price declined by 4.5%, from $724,950 to $694,000. Inventory was up by 28% and sales were down by 10%.
West Bellevue
Sellers had a 9.5% chance of selling a home, UP from 7.3%, and DOWN from 34% last year. Median pricing decreased by 13.7% to $1,294,750 from $1,500,000. Inventory climbed by 95.7% and sales declined by 45.5%.
Redmond/Education Hill/ Carnation
Sellers had a 13.2% chance of selling a home, DOWN from 21.2% last month, and DOWN from 25.5% last year. Median pricing increased by 12.2% from $598,000 to $671,035. Inventory increased by 25.5% and sales dropped by 35%.
Inventory on Seattle’s Eastside dropped significantly from last month, by 195 homes, a 5% deline in inventory. All the eastside areas showed an increase in the absorption rate, the number of sales compared to the amount of homes for sale, except in the Education Hill, Union Hill, Carnation area. This area was the highest performing area last month, with the sales activity declining this month. West Redmond/East Bellevue had the best absorption rate of the Eastside once again. May was the only month this year that the area east of 405 and south of highway 908 was not the best performing area on the eastside.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Remember sellers, it’s price and condition in this market. Homes are selling, but as we all know, there’s competition.
Bellevue Real Estate, condo buyers, condo buying, condo real estate statistics, condo sellers, condo selling, Eastside real estate, Issaquah Real Estate, Kenmore real estate, Kirkland real estate, monthly condo real estate statistics, Redmond real estate, Seattle, Seattle real estate, Seattle/Eastside real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on June 16, 2008 at 4:13 pm
Sellers had a 14% chance of selling a condo on Seattle’s Eastside in May of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
May, 2008 1472 condos for sale, 211 condos sold, 14% chance of selling.
April, 2008 1392 condos for sale, 222 condos sold, 15.9% chance of selling.
May, 2007 761 condos for sale, 376 condos sold, 49% chance of selling.
Condo values on the Eastside continue to go up. Last month prices increased over 5% from May of last year. The actual number of sales is down considerably, which means the cream of the crop is getting the offers and the other condos are just sitting on the market. Pay attention to the competition in the area and price or buy accordingly.
Bellevue Real Estate, Issaquah Real Estate, Kirkland, Kirkland real estate, Medina, Medina real estate, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle real estate, Seattle/Eastside real estate, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on June 16, 2008 at 8:07 am
The chances
of selling a home on the Eastside in May 2008 ranged from a low of 7.3% to a high of 21%, with an average 12% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
May 2008 4349 homes available, 522 sold, 12 % chance of selling.
April, 2008 3985 homes available, 512 sold, 12.8% chance of selling.
May 2007 2823 homes available, 871 sold, 30.9% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 12.7% chance of getting a home sold, DOWN from 15.4% last month and DOWN from 29.8% last year. Median home prices were up by 3.1%, from $596,450 to $614,900. Inventory was up by 36.8% and sales declined by 41.7% from last year.
West Redmond/East Bellevue
Sellers had a 13.5% chance of getting a home sold, DOWN from 19% last month, and DOWN from 63.8% last year. Median sales price decreased from $619,000 to $559,950, a decrease of 9.5%. Inventory was up 128% and sales were down 51.5%.
South Bellevue
Sellers had a 11.5% chance of selling a home, Up from 10.6% last month and DOWN from 29.1% last year. Median price increased by 1.5% to $699,475 from $689,075. Inventory was up 48% and sales were down 41.4%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 9.6% chance of selling a home, DOWN from 12.5% last month and DOWN from 24.9% last year. Median price was down to $499,950 from $525,000, a 4.8% decrease. Inventory was up by 47% from last year and sales declined by 43.3%.
Kirkland
Sellers had a 9.6% chance of selling a home, UP from 8.46% last month and DOWN from 31.3% last year. Median price declined by 15.1%, from $799,950 to $679,000. Inventory was up by 55.4% and sales were down by 52.3%.
West Bellevue
Sellers had a 7.3% chance of selling a home, DOWN from 9.03%, and DOWN from 29% last year. Median pricing decreased by 11.4% to $1,325,000 from $1,495,000. Inventory climbed by 103.2% and sales declined by 48.9%.
Redmond/Education Hill/ Carnation
Sellers had a 21,2% chance of selling a home, UP from 14% last month, and DOWN from 33% last year. Median pricing decreased by .08% from $654,950 to $650,000. Inventory increased by 60.9% and sales dropped by 3.2%.
County wide, inventory is up from January’s numbers. On the eastside 2963 homes were on the market in January and now there are 4349 homes for sale, a 32% increase. The median price was up in four areas on the eastside in April, but only in two areas in May.
To determine the most realistic view of the market, look at several months worth of data. Pay particular attention to the amount of homes for sale in your area. Regardless of what’s happened in the previous months, make sure you know the actual competition in your area before establishing a sales price and going on the market.
Remember sellers, it is price and condition in this market. Homes are selling, but as we all know, there is competition.
biking, BNSF railway, buses, commute, commuter rail, hiking, John Creighton, King County Council, Port of Seattle, Proposition 1, rail banking, Rails/trails, Snohomish County, Sound Transit, traffic
In Bellevue, WA, King County, WA, Kirkland, Local news and information, Redmond, Woodinville, WA on May 15, 2008 at 9:01 am
On Monday Metropolitan King County officials and Port of Seattle Commissioners met to sign the paperwork for the complicated deal between the Port of Seattle, King County, and the BNSF railroad. The Port will buy the BNSF tracks from the railway and allow King County to keep the right of way in the public domain.
But what’s the future of the rail line? What’s the future of a trail? I’ve added links to the some of the news articles about the deal and will highlight some of the key issues raised in each article. It’s interesting to compare what’s reported in each article. The different newspapers do not see the issues in exactly the same light. This is not surprising since the issues surrounding the trail and/or rail line are still unclear and very much up in the air.
Several constants in this saga are:
The BNSF is selling the rail line to the Port for $107 million dollars.
The Port has granted King County an easement to develop a trail on 32 miles of the corridor.
Federal law requires the train line be “rail banked”, kept for possible future use as a train line. The tracks will remain in place. This will keep the line available for public use and ownership.
The port will receive $1.9 million dollars from King County for the use of an easement for a hiking/biking trail along the Renton to Woodinville stretch of the rail line and the 7 mile spur from Woodinville to Redmond.
The Everett Herald had an interesting story summarizing Monday’s inking of the deal. The Herald reflected the Snohomish County Council point of view.
“ Snohomish County wants leverage sooner and is working to keep the rails in place for commuter trains all the way to tech job centers on the east side of Lake Washington.
“We think we can have the rails and the trails,” Somers (Snohomish County Council Chairman) said.
Somers is pushing for a deal with a private company called GNP Railway to provide daily commuter trains on the route from Snohomish to Bellevue as soon as next year. The county is negotiating with the company chairman Tom Payne.
“If we can team up with Tom Payne and get status with the federal government, the port and King County have to deal with us.”
Snohomish County wants rail.
“The port isn’t interested in long-term ownership of the corridor, so questions to be worked out include who would ultimately own the corridor and run commuter rail over it, said Port Commissioner John Creighton. “We’re holding the corridor now, but if Sound Transit determines it can make use of the corridor, we would like to sell it to Sound Transit, get our money out, and invest it in our core business.”
Both The Seattle P-I and The Seattle Times weighed in with their take on the future for the rail/trail. The Seattle P-I’s article was the most comprehensive summary of the story. Here are some additional issues raised in the P-I article:
Previously, a study was done to the tune of $800,000 by The Puget Sound Regional Council. This study stated:
“In May 2007 the Puget Sound Regional Council published a study that found Sound Transit and the state Department of Transportation’s strategy of using a series of rapid buses to serve commuters was more feasible than developing high capacity rail transit along the Eastside rail corridor.”
A new survey is being conducted and will be completed by February, 2009. The cost for this study is $340,000, after $800,000 has already been spent to say the commuter line is not viable in King County! Part of the money for the study is being paid by the Discovery Institute, which has a vested interest in seeing the commuter line developed, since this very group is hoping to develop the commuter line. This second study is being conducted with funds from a source that hopes to gain from the outcome of the study. Hmm….
It’s important to have thorough and impartial studies completed, studies which demonstrate the actual cost per rider and the full cost of developing the trail and rail line. It’s important to have the proper public process for the trail and/rail line. Whatever is decided must be the result of careful, thorough analysis and not just a band-aid solution resulting from the failure of Proposition 1.
Bellevue Real Estate, condo buyers, condo buying, condo sales, condo sellers, condo selling, condominium sales, Issaquah Real Estate, monthly real estate statistics, Redmond real estate, Sammamish real estate, Seattle real estate, Seattle/Eastside real estate, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on May 14, 2008 at 6:04 pm
Sellers had a 15.9% chance of selling a condo on Seattle’s Eastside in April of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
April, 2008 1392 condos for sale, 222 condos sold, 15.9% chance of selling.
March, 2008 1277 condos for sale, 208 condos sold, 16% chance of selling.
April, 2007 621 condos for sale, 377 condos sold, 60% chance of selling.
Condo values on the Eastside continue to go up. Last month prices increased over 7% from last year and this month prices are up 12.6%. This is not to say it’s easy to sell a condo. Clearly, the actual number of sales is down considerably, by 41%.
Pricing a condo for sale should be based on the amount of competition and the most recent sales. Sales from even a few months ago are out of date. Understanding the competition when you go on the market is the key to a successful sale. Pricing must be competitive so a condo stands out from the pack.
Bellevue, Bellevue Real Estate, Eastside real estate, home buyers, home sellers, home selling, Issaquah, Issaquah Real Estate, King County, King County Real Estate, Kirkland, Kirkland real estate, monthly real estate statistics, Redmond, Redmond real estate, Sammamish, Sammamish real estate, Seattle real estate, Seattle/Eastside real estate, Seattle/Eastside real estate statistics, Woodinville, Woodinville real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Local news and information, Real Estate News, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA, WA real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on May 12, 2008 at 7:50 am
The chances
of selling a home on the Eastside in April 2008 ranged from a low of 8.46% to a high of 19%, with an average 12.8% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
April, 2008 3985 homes available, 512 sold, 12.8% chance of selling.
March, 2008 3637 homes available, 493 sold, 13.5% chance of selling.
April, 2007 2444homes available, 734 sold, 30.0% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 15.4% chance of getting a home sold, UP from 14.5% last month and DOWN from 29.4% last year. Median home prices were down by 6.2%, from $637,000 to $597,639. Inventory was up by 48.8% and sales declined by 22% from last year.
West Redmond/East Bellevue
Sellers had a 19% chance of getting a home sold, DOWN from 21.7% last month, and DOWN from 46.0% last year. Median sales price increased from $569,000 to $608,998. Inventory was up 110% and sales were down from 63 sales to 55 homes, a 12.7% decline.
South Bellevue
Sellers had a 10.6% chance of selling a home, DOWN from 12.3% last month and DOWN from 25.9% last year. Median price decreased by 19% to $600,000 from $741,150. Inventory was up 54.5% and sales were down almost 36.7%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 12.5% chance of selling a home, a minimal change from 12.3% last month and DOWN from 37% last year. Median price was down to $484,450 from $514,950, a 5.9% decrease. Inventory was up by 60.1% from last year and sales declined by 45.9%.
Kirkland
Sellers had a 8.46% chance of selling a home, DOWN from 10.7% last month and DOWN from 30.5% last year. Median price declined by .03%, from $710,000 to $707,950. Inventory was up by 62.6% and sales were down by 54.8%.
West Bellevue
Sellers had a 9.03% chance of selling a home, UP from 7.26%, and DOWN from 28.3% last year. Median pricing increased by 42% to $1,399,000 from $985,000. Inventory climbed by 106.2% and sales declined by 34.1%.
Redmond/Education Hill/ Carnation
Sellers had a 14.0% chance of selling a home, DOWN slightly from 14.8% last month, and DOWN from 20.9% last year. Median pricing increased by 13.1% from $577,015 to $652,450. Inventory increased by 71% and sales dropped by 14.5%.
County wide, inventory is up from January’s numbers. On the eastside 2963 homes were on the market in January and now there are 3985 homes for sale, a 26% increase. The chances of selling in the different eastside areas varied very little from March’s numbers. However, if sales were down in an area, there was no absolute correlation with median price. Even if sales were down, the median price could still go up. The median price was up from last April in four of the eastside areas and down in three of the areas.
If you are trying to get a feel of the market in a particular area, look at several months worth of data. This will give the most realistic view of the market. Pay particular attention to the increase in inventory in your area. Sellers. regardless of what’s happened in a previous month, make sure you understand how much actual competition there is in your area before establishing a sales price and going on the market.
Remember sellers, it is price and condition in this market. Homes are selling, but as we all know, competition for the buyer is fierce.
Add new tag, condominiums, condos, Eastside real estate, home buyers, home sellers, home selling, real estate, real estate market statistics, real estate update, Seattle/Eastside, Seattle/Eastside real estate
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Local news and information, Real Estate News, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on April 10, 2008 at 3:43 pm
Sellers had a 16% chance of selling a condo on Seattle’s Eastside in March of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)
March, 2008 1277 condos for sale, 208 condos sold, 16% chance of selling.
February, 2008 1230 condos for sale, 140 condos sold, 11% chance of selling.
March, 2007 535 condos for sale, 405 condos sold, 75% chance of selling.
The eastside certainly doesn’t follow expected trends. Even with the more than double the inventory, pricing is still 7.4% higher than last year. Usually, if there are more properties available and less sales, then the prices go down, but not on Seattle’s Eastside.
Add new tag, Bellevue, Bothell, Duvall, Eastside real estate, home buyers, home seller, home sellers, Issaquah, Kenmore, Kirkland, market statistics, monthly real estate update, Redmond, Sammamish, Seattle, Seattle/Eastside real estate, Woodinville
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Local news and information, Real Estate News, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate, market statistics on April 10, 2008 at 2:29 pm
The chances
of selling a home on the Eastside in March 2008 ranged from a low of 7.26% to a high of 21%, with an average 13.5% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)
Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
March, 2008 3637 homes available, 493 sold, 13.5% chance of selling.
February, 2008 3303 homes available, 453 sold, 13.7% chance of selling.
March, 2007 2126 homes available, 826 sold, 38.8% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 14.5% chance of getting a home sold, DOWN from 16.4% last month and DOWN from 40.4% last year. Median home prices were down by 2.4%, from $593,950 to $579,500. Inventory was up by 59.7% and sales declined by almost 42% from last year.
West Redmond/East Bellevue
Sellers had a 21.7% chance of getting a home sold, UP from 15.6% last month, and DOWN from 58.8% last year. Median sales price decreased from $598,725 to $539,950. Inventory was up 127% and sales were down from 70 sales to 59 homes, a 15.7% decline.
South Bellevue
Sellers had a 12.3% chance of selling a home, DOWN from 13.4% last month and DOWN from 40.7% last year. Median price decreased by 1.5% to $669,950 from $659,950. Inventory was up 60.6% and sales were down almost 51.2%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 12.3% chance of selling a home, as 12.3% last month and DOWN from 35.1% last year. Median price was down to $525,000 from $540,450, a 2.9% decrease. Inventory was up by 57% from last year and sales declined by 44.9%.
Kirkland
Sellers had a 10.7% chance of selling a home, DOWN from 12.5% last month and DOWN from 28.2% last year. Median price declined by 2%, from $714,950 to $699,999. Inventory was up by 57.2% and sales were down by 40.2%.
West Bellevue
Sellers had a 7.26% chance of selling a home, DOWN from 9%, and DOWN from 35.2% last year. Median pricing increased by 2.9% to $1,250,000 from $1,215,000. Inventory climbed by 136.9% and sales declined by 51.2%.
Redmond/Education Hill/ Carnation
Sellers had a 14.8% chance of selling a home, DOWN from 15.8% last month, and DOWN from 48.9% last year. Median pricing decreased by 11.5% from $678,225 to $600,000. Inventory increased by103% and sales dropped by 38.5%.
King county wide, inventory is up from January’s numbers. On the eastside 2963 homes were on the market in January and now there are 3637 homes for sale.
As I mentioned in a previous post, if you’re considering a move, whether you’re buying or selling, it’s important to break the data down regarding the inventory and the absorption rate even further than what is reported above. The information here is a great snapshot for the eastside. But when looking at the price for a particular home, it’s best to look at the information in a smaller area than what’s shown above.
Also, look at several months worth of data. It’s interesting to see how things can fluctuate each month. For example, in West Bellevue, median price has been declining over the past few months and this month median pricing is up. If you look at several months worth of statistics, you’ll get a more realistic flavor of the market in a particular area. It obviously is still a tough market for sellers and a much better market for buyers. Pricing and condition is key in selling a home. It always has been, but now it’s even more critical.
Seattle/Eastside, Woodinville, real estate, log homes, Kirkland, Frank Lloyd Wright, Lincoln Logs, Issaquah, Duvall, Carnation
In Bellevue, WA, Built Green and Sustainable Living, For Buyers, For Sellers, King County Real Estate, Remodeling and style trends, Woodinville, WA, real estate on March 10, 2008 at 7:55 am
There’s been a lot of press this past week about the torching of The Street of Dreams homes. My previous post was about this story. People were horrified by this senseless act. When reading other posts about the event, particularly the one on The Seattle P-I Real Estate Professionals blog, I noticed another thread in the blog comments about the tragic event, many people were voicing an opinion against the mega-houses The Street of Dreams shows represent.
I thought this might be a good time to visit a different form of American architecture, log homes.
Log homes evoke the past, a sense of adventure, and the “Wild West.” We think thoughts of Abe Lincoln and Laura Ingalls Wilder. The rustic nature of logs brings people close to the wood in its natural state. For some, it can create the perfect ambiance of a rustic, warm getaway and still be a primary residence. A log home is a great antithesis to today’s hectic lifestyles.
There are a number of log homes all around Seattle’s eastside. Most are in areas such as Union Hill or in cities like Duvall, Carnation, Fall City, Woodinville, and Issaquah. However, there are log homes everywhere. There’s a great log home in my neighborhood in Kirkland, one on Market St., and one on Rose Hill.
One recent issue of Realtor Magazine had a interesting article about log homes. According to the article, log homes were first seen in this country in the 1700′s. Early settlers had to make do with what was available. Without “city” conveniences and lumber mills, the full logs did the trick. Homes were often built without nails since nails were scarce.
Remember Lincoln Logs? My brothers had those when we were kids. Lincoln Logs were toy sets for building log homes. The toy logs had the same notched style construction as the original log homes. When I read the above article, I discovered Frank Lloyd Wright’s son created Lincoln Logs. I wonder what his Dad would have thought!
The Log Council , a member of NAHB, The National Association of Home Builders, is an industry trade group and information resource. Numerous architects and builders specialize in log home design and building. The above linked article will give you a great introduction to the concept of log homes in the 21st century.
built green, eco-terrorism, Seattle/Eastside real estate, Street of Dreams, sustainable materials, WA, Woodinville, Woodinville real estate
In Built Green and Sustainable Living, Local news and information, Real Estate News, Woodinville, WA, Woodinville, WA Real Estate, real estate on March 7, 2008 at 8:46 pm
Bellevue, buyers, Issaquah, Kirkland, market statistics, Medina, Redmond, Sammamish, Seattle Eastside real estate, sellers, Woodinville
In Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Local news and information, Woodinville, WA, Woodinville, WA Real Estate, market statistics, real estate on February 9, 2008 at 6:05 pm
The chances
of selling a home on the Eastside in January 2008 ranged from a low of 7% to a high of 15.8%, with an average of a 11.6% absorption rate. Here are the real estate statistics for single family home sales activity on Seattle’s Eastside:
January, 2008 2963 homes available, 346 sold, 11.6% chance of selling.
December, 2007 2594 homes available, 295 sold, 9% chance of selling.
January, 2007 1895 homes available, 506 sold, 26.7% chance of selling.
_____________________________________________________________
(click on the each area name for a chart showing the latest stats in the area)
The plateau: Sammamish, Issaquah, North Bend, and Fall City
Sellers had a 13.3% chance of getting a home sold, UP from 12.2% last month and DOWN from 32.6% last year. Median home prices were down by .8%, from $624,900 to $619,900. Inventory was up by 55% and sales declined by almost 36.5% from last year.
West Redmond/East Bellevue
Sellers had a 15.8% chance of getting a home sold, DOWN from 16.1% last month, and DOWN from 33.6% last year. Median sales price increased from $539,450 to $567,250. Inventory was up a whopping 112% and sales were exactly the same as last January, 36 homes.
South Bellevue
Sellers had a 7.2% chance of selling a home, DOWN from 8.9% last month and DOWN from 21.3% last year. Median price decreased by 13.1% to $630,000 from $724,975. Inventory was up 51.6% and sales were down almost 48.3%.
Woodinville/Bothell/Kenmore/Duvall
Sellers had a 14% chance of selling a home, UP from 9.3% last month and DOWN from 25.7% last year. Median price was down to $459,950 from $499,950, an 8% decrease. Inventory was up by 50% from last year and sales declined by 18%.
Kirkland
Sellers had a 9.8% chance of selling a home, DOWN a hair from 10.2% last month and DOWN from 17.2% last year. Median price declined by 3%, from $672,475 to $652,250. Inventory was up by 38% and sales were down by 21%.
West Bellevue
Sellers had an 7% chance of selling a home, DOWN from 9.7%, and DOWN from 21.6% last year. Median pricing dropped by 13% to $937,500 from $1,077,500. Inventory climbed by 78% and sales declined by 42%.
Redmond/Education Hill/ Carnation
Sellers had a 12.4% chance of selling a home, DOWN ever so slightly from 12% last month, and DOWN from 32.8% last December. Median pricing increased by 2.5% from $648,950 to $664,925. Inventory increased by 59% and sales dropped by 40%.
This will continue to be a more realistic year. Here is the evaluation of the market from my January, 2008 article in which I summarized 2007 Seattle/Eastside real estate. The remarks still hole true for this month’s report:
“The market is softer for sellers, but not dead on the arrival of 2008 like in many areas of the country. Sellers need to be competitive with pricing and have a top notch marketing plan and presentation to capture a buyer’s attention and get the sale. Realistic sellers should not have a problem getting a home sold. Those who decide to sell should expect longer market times and flexibility in pricing.
Buyers have great choices, interest rates, negotiation opportunities, and a chance to think before jumping on a home in today’s market. Buyers, however, who plan to buy should stay put for at least 3-5 years. ” So this may not work for everyone.
Condo stats are coming soon!
Eastside Real Estate Buzz
