July, 2011 Seattle-Eastside Condo Sales-The Best for the Year?

Condo sales on Seattle's eastside

Seattle Eastside condo sales through July, 2011

July, 2011 condo sales hit the highest number of sales in more than a year.  There were 1063 condos for sale on the eastside, 76 less than June, and 250 of them received offers.  Twenty-three percent of the condos for sale had accepted offers, great odds when compared to the odds of selling just a year ago.   As you can see, there are so many less condos for sale now, almost 1/3 less, and more are selling this year than last.

Although, the odds of selling a condo are far stronger than the last few years, there are a number of the sales that didn’t come together.  I had reported 223 sales in June and looking at the chart now, I see there were only 195 condo sales.  This means 28 sales or 13% failed last month.

Sales fail for many reasons.  A condo may not pass inspection or an appraisal.  The buyer may not get financing or the condo complex itself may not fit financing guidelines.  There could be too high a proportion of renters as compared to home owners or there could be a pending lawsuit, both could affect the ability to obtain a loan on a condo in a particular complex.

August began with the economy and the volatile stock market hanging over our heads.  It’s too soon to see how this will affect our real estate market.  How are condo sales going in your area?


Posted on August 15, 2011 at 5:54 am
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA Real Estate | Tagged , , , , ,

June was a Great Month for Seattle Eastside Condo Sales

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

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

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

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

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


Posted on July 15, 2011 at 12:17 pm
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA Real Estate | Tagged , , , , ,

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

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

Seattle Eastside Condo Sales Through May, 2011

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

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

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


Posted on June 14, 2011 at 4:34 pm
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA Real Estate | Tagged , , , , ,

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

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

Seattle Eastside Condo Sales Through April, 2011

 

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


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

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

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


 
Condo Real Estate on the Eastside

Seattle Eastside Condo Sales Through March 2011

 

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


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

How Many Condos Sold on Seattle's Eastside in 2-11?

There were less than 1000 condos for sale on the eastside in February! Seattle-eastside condo sales are creeping up and the number of condos for sale is creeping downward.   This is the fewest number of condos for sale since the beginning of 2008!

Besides the number of condos for sale being at the low for the last 3 years, the number of sales took a big jump up over the last two months.  The number of condos sales almost doubled in that time to 200 sales.

The condo sales market is the most positive it’s been for a long time, and I mean a long time! It’s exciting to see sales really picking up as buyers are out there on the eastside buying condos.  The best of the best are selling quickly, while the rest just stay on the market.
 

Condo Sales in Seattle, 2-11

Seattle-Eastside Condo Real Estate Sales, February 2011

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


Posted on March 18, 2011 at 10:34 am
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Market Statistics, Real Estate, Seattle | Tagged , , , , , ,

How Did January, 2011 Seattle-Eastside Condo Sales Compare to January, 2010?

This is the fewest number of condos for sale in years, and I mean years.  I checked all the way back to the beginning of 2008.  There were only two months in 2008 when less than 1100  condos were for sale on Seattle’s eastside.
 

This is a better time than most of the past three years (tax credit time is the exception) to sell a condo.  Buyers are getting “off the fence” to buy, hence the higher absorption rate. The best of the best are selling quickly, while the rest just stay on the market.

Seattle Eastside Condo Sales

January 2011 Condo Sales on Seattle's Eastside

(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.)

January, 2011             1028 condos for sale      174 condos sold               17% odds of selling.

December, 2010         1084 condos for sale      120 (was 135)  condos sold      11% (was 12%) odds of selling.

January, 2010             1217 condos for sale       117 condos sold          10%  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.

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


Posted on February 17, 2011 at 6:43 am
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA Real Estate | Tagged , , , , , , , , , ,

How Many Condos Sold on Seattle's Eastside in Dec 2010 Compared to 2009?

 

Seattle Eastside Condo Sales Results

Seattle Eastside Condo Sales from 2009 through 2010

December, 2010 beat out December, 2009 by 35 sales.  Over 30% more Seattle-eastside condos sold in 2010 than in December, 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, 2010         1084 condos for sale      135  condos sold                   12.5% odds of selling.

November, 2010         1191 condos for sale       138 (was 150) condos sold          11.5%  (was 12.5%)  odds of selling

December, 2009         1174  condos for sale     100 condos  sold                   8.5% 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.

Other than the spring when the tax credit was in place, December was one of the best months to sell a condo last year.  Partly because there were fewer condos for sale, 31% fewer than the peak of 1552 in July.  Competition fell off so much by the end of the year, the odds of selling increased.  It will still be a challenge this year, but condos will sell.

If you plan to sell your condo in the next year or so, feel free to contact me if you have questions about what you need to do to get ready to sell.  Most every seller has to do a few things before putting a home on the market for the world to see.  If your home is in the best possible condition before going on the market, there’s a better chance your home will be one of those 9-12% of homes that gets the offer.  The number seems a little scary because it still is low, but if your home is positioned properly, it can be one of the lucky few to get an offer.


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

How Was The Seattle Eastside Condo Real Estate Market in November, 2010?

Seattle Eastside Real Estate Sales

Seattle Eastside Condo Sales Nov 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.)

November, 2010         1191 condos for sale       150 condos sold                    12.5% odds of selling

October, 2010             1375 condos for sale       136 (was 147) condos sold      9% (was 11%)  odds of selling.*

September, 2010        1448 condos for sale      130 (was 155) condos sold         9% (was 11%) odds of selling.*

November, 2009            1289  condos for sale     121 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.   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.

Wow, November showed the biggest drop in the number of Seattle-eastside condos for sale so far this year! There are 184 less condos for sale.  We’re almost at the lowest point of inventory, that is the available condos, for the year.  The peak of condos for sale was back in July, when over 1500 condos were for sale on the eastside.

Everyone is so focused on how much homes and condos are losing in value.  Yes, there’s no one selling in today’s market that hasn’t lost money in the value of his/her home or condo in the last few years.  But remember, if you’re selling because you’d like to buy another condo or home, that one will also cost a lot less than it would have been a few years ago.

If you plan to selling your condo in the next year or so, feel free to contact me if you have questions about what you need to do to get ready to sell.  Most every seller has to do a few things before putting a home on the market for the world to see.  If your home is in the best possible condition before going on the market, there’s a better chance your home will be one of those 9-12% of homes that gets the offer.

Happy Holidays and have a great 2011!

Posted on December 16, 2010 at 1:02 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , ,

How Was The Seattle-Eastside Condo Market in October, 2010?

Condo Sales on Seattle's Eastside

Seattle Eastside Condo Sales Through October 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.)

October, 2010             1375 condos for sale       147 condos sold                    11% odds of selling.

September, 2010        1448 condos for sale      130 (was 155) condos sold         9% (was 11%) odds of selling.*

October, 2009            1363  condos for sale     200 condos  sold                   15% 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.

The number of Seattle-eastside condos for sale dropped considerably as there are about 75 less condos for sale.  The numbers are back down to March’s numbers.  It’s pretty typical, no matter the kind of real estate market there is out there, for there to be more condos for sale in the summer than at any other time during the year.  The decline in the number of condos for sale should continue until the end of the year. So if you plan to sell next year, start early in the year.  Don’t wait until summer.

If you’re selling your condo now, can you be one of the 11/100 who gets the offer?  Yes, if price and condition beat all of your competition.

What do you see happening with condo sales in your area?

Posted on November 16, 2010 at 2:58 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA real estate | Tagged , , , , , , , , , ,