Seattle/Eastside Real Estate Is Looking Good!
King Snohomish County Real Estate, August 2009
Seattle/Eastside real estate is looking good. The “green” is almost gone from King and Snohomish County real estate. It’s been almost 15 years since I can remember such a balanced, healthy real estate market. A balanced market is when the real estate market is not skewed towards buyers or sellers, but is balanced between both.
A number of my colleagues, including myself, made a move in 1994, the last time I can think of such a balanced market. The market was healthy then and is healthy now. There’s a reasonable supply of homes and a good number which are now selling each month. We’re seeing homes sell quickly, if they are priced right and show well. There are some homes that sell with multiple offers, but rarely for full price.
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. This number is shrinking each month, which is a good thing. Buyers still have a great selection and sellers can sell for a realistic price. There’s a renewed confidence in Seattle/Eastside real estate.
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