Did Condo Prices Drop on Seattle’s Eastside in August, 2012?

First, a word about condo prices on Seattle's eastside: 

Even though the news media said condo prices were down in King County, they appear to be holding steady in the Seattle's eastside cities of Bellevue, Redmond, Kirkland, etc, when compared to August 2011 pricing.  This is good news for condo sellers who have gotten beaten up by pricing in the last few years.  With the low supply of condos for sale, prices are no longer declining, and, in fact, they may begin rising.  In June, July, and August, prices on the eastside did increase, which brought us back to the pricing in the middle of last year.  Unfortunately, prices did drop last fall through the early spring of this year, but we have now caught up to the prices we had in mid-2011. It appears that market pricing is holding steady now and has increased in the last few months.

Now back to the number of sales:

Condo sales numbers are actually not much higher than August, 2011 when 194 condos sold.  This year, 201 condos sold in August.  Because there's about half the number of condos for sale this year than in 2011, the percentage of those that sold, the absorption rate, skyrocketed.  Last year, 19% of the condos sold and this year, 43% sold. 

Time on the market has also dropped to an average of 68 days to sell vs.116 days in August of 2011. 

So what does this all mean if you are thinking of selling or have your condo on the market?

If your condo takes a long time to sell, then it is either overpriced or is not marketed well.  Make sure your condo has great online photos to start. Staging can also be a big plus. Good pricing and great photos are the two most critical marketing pieces to getting your condo sold. Remember this is how buyers and other agents "see" your home first, so the pricing and online marketing are crucial to getting buyers through the door to actually see your condo and make an offer to buy it.

What does this all mean if you are a condo buyer?

With the pattern of price increases, this means we're past the bottom of the market pricing.  This may be the time to make a purchase. With the short supply, pricing could continue to increase.  Remember, too, that interest rates are still incredibly low.   Don't forget to check the financial viablity of an condo association you're thinking of buying into.  In a blog post I wrote a few months ago, I listed some of the important things to look for when checking condos out. The post looks at the issue from the seller's point of view, but these issues should be important to any buyer.  Fortunately for the buyer, the law requires a seller to provide the answers in the form of a resale certificate which is reviewed as one of the conditions of an offer. 

If you have any questions about the condo market, please feel free to contact us. 

Posted on September 11, 2012 at 7:27 pm
Sinick & Beaupain Team | Category: Eastside Real Estate, Financing, For Buyers, Market Statistics, Real Estate | Tagged , , , , , , , ,

The Seattle-Eastside Condo Market is Amazing!

Our amazing Seattle-Eastside real estate continues! How low can the supply of eastside condos go?  In July there were only 463 condos for sale all over the Eastside, less than half the number of condos for sale in July of 2011!  The supply is low and the prices have dropped considerably over the last few years as evidenced by the chart below. These market conditions bode well for buyers.  Prices are at the bottom and with the low supply, they should begin rising.  Unfortunately for the sellers who bought from 2007 on, it's still a tough market as pricing is well below the high experienced during that time.

Not only was the supply at the lowest I can remember, the number of sales were at the high so far for the year. There were 463 condos for sale and 236 of them sold!  I've been in real estate on Seattle's eastside for 25 years and I've never seen anything like the lack of supply in the market we're experiencing now.  In previous reports I mentioned if the supply of condos stayed on the low side, to expect the positive market to continue in Bellevue, Kirkland, Redmond, and the other cities east of Seattle. This was how the real estate market performed in July.

The chart beow shows the trend in pricing from 2008-2012 for condo sales on the eastside.  Each blue bar represents a month during the years that are represented below.  The red line that is drawn across each year shows where the median point is in pricing for the year.In 2008, the median pricing for condo sales on the eastside was $337,064.  So far this year, the median pricing for sales is at $221,631.  If you look at 2012, pricing has jumped up for the last two months,  but on average, it's still lower than previous years.

Time on the market has also dropped to an average of 90 days to sell vs.109 days in June of 2011.

If you have any questions about the condo market, please feel free to contact us. 

 

Posted on August 15, 2012 at 1:59 pm
Sinick & Beaupain Team | Category: Bellevue Real Estate, Eastside Real Estate, For Buyers, For Sellers, Issaquah Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate | Tagged , , , , , , , ,

Were June Condo Sales on Seattle’s Eastside Still Hot?

What an amazing condo market on Seattle's Eastside!  Since June of 2011, the number of condos for sale has continued to drop, and drop by alot.    Last June there were 1139 condos for sale and this June there are less than 500!  What a huge difference! 

Not only are there fewer condos for sale, but the sales have been very strong, especially since February.  The condo market has been even stronger over the past two months.  Approximately 42% of the available condos sold in June.    If the supply of condos stays on the low side, expect this positive market to continue in Bellevue, Kirkland, Redmond, and the other cities east of Seattle.

Median pricing was $235,000 this past month, whereas last year the median pricing for the month stood at $250,000.  Don't worry too much about pricing for one month's worth of sales.  As we always say, you must follow the trend over a period of months to measure any true increases or decreases in value.  One month's real estate prices are only a reflection of the sales that happened that particular month.

Time on the market has also dropped to an average of 90 days to sell vs. 118 days in June of 2011.

So get our there and find a great home, but do your homework before getting in the car to look at properties.  Check out the commute, the neighborhood, schools and anything else that is of importance to you before you start looking for a home.  If you do that, you can target the right location to look for a home.  You can then look for a home that works for you in a the right location. 

Remember location, location, location is the primary rule of real estate.  In today's world, location can mean many different things to people based on job location, commutes, and area amenities. Determine what it means to you and then go for the condos in that particular location. 

If you have any questions about the condo market, please feel free to contact us. 

 

Posted on July 19, 2012 at 5:38 pm
Sinick & Beaupain Team | Category: Bellevue Real Estate, Eastside Real Estate, For Buyers, For Sellers, King County Real Estate, Market Statistics, Real Estate, Windermere Real Estate | Tagged , , , , , , , ,

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

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

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

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

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

The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales, so if 10 out of 100 homes sold, the odds of selling would be 10/100 or 10%)

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

The odds of selling a home were 23%.

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

There were 765 homes for sale.

A total of 190 homes sold.

Redmond/East Bellevue

The odds of selling a home were 38%.

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

193 homes were for sale

A total of 79 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 21%.

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

364 homes were for sale.

A total of 91  homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 23%.

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

572 homes were for sale.

A total of 147 homes sold.

Kirkland

The odds of selling a home was 19.5%.

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

286 homes were for sale.

A total of 71 homes sold.

West Bellevue

The odds of selling a home were 20%.

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

181 homes were for sale.

A total of 43 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 20.5%

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

331 homes were for sale.

A total of 77 homes sold.

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



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

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

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

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

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

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

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

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

From the Seattle Times Eric Pryne:

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

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

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

(Click on the cities below to see real estate trends for the past 5 years.  You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down.  The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales, so if 10 out of 100 homes sold, the odds of selling would be 10/100 or 10%)

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

The odds of selling a home were 22%.

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

There were 752 homes for sale.

A total of 186 homes sold.

Redmond/East Bellevue

The odds of selling a home were 34%.

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

189 homes were for sale

A total of 73 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 29%.

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

342 homes were for sale.

A total of 113  homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 28%.

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

541 homes were for sale.

A total of 177 homes sold.

Kirkland

The odds of selling a home was 30%.

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

282 homes were for sale.

A total of 94 homes sold.

West Bellevue

The odds of selling a home were 29%.

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

167 homes were for sale.

A total of 51 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 21%

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

325 homes were for sale.

A total of 74 homes sold.

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



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

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

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

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

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

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

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

(Click on the cities below to see real estate trends for the past 5 years.  You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down.  The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales, so if 10 out of 100 homes sold, the odds of selling would be 10/100 or 10%)

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

The odds of selling a home were 20%.

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

There were 701 homes for sale.

A total of 161 homes sold.

Redmond/East Bellevue

The odds of selling a home were 32%.

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

176 homes were for sale

A total of 59 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 24%.

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

322 homes were for sale.

A total of 91  homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 26%.

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

559 homes were for sale.

A total of 160 homes sold.

Kirkland

The odds of selling a home were 30%.

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

282 homes were for sale.

A total of 94 homes sold.

West Bellevue

The odds of selling a home were 22%.

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

170 homes were for sale.

A total of 45 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 23%

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

299 homes were for sale.

A total of 80 homes sold.

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



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

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

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

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

The number of home sales for the eastside took a huge jump over last month’s total.  Each month of 2011 has seen a big increase in sales.

Are the sales stronger than March of 2010?  No, they’re not.  But remember, in March, 2010, buyers were scrambling to buy to get the tax credit.  This March, buyers are out buying because they’re ready to buy, not because a tax credit is dangling in front of them.  It’s been great to see the amount of activity in each neighborhood on the eastside.  In reality, it’s the hot homes that are selling.  “Hot” homes are great values with a good price tag and are staged and ready to go.  The homes that are not “hot” are taking a long time to sell and go through a lot of price reductions before getting an offer.

(Click on the cities below to see real estate trends for the past 5 years.  You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down.  The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales, so if 10 out of 100 homes sold, the odds of selling would be 10/100 or 10%)

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

The odds of selling a home were 23%.

Median sales price dropped: $497,500 to $466,500.

There were 637 homes for sale.

A total of 160 homes sold.

Redmond/East Bellevue

The odds of selling a home were 29%.

Median sales price increased by .5% to $467,250 from $464,995.

166 homes were for sale

A total of 64 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 32.5%.

Median price increased from $539,450 to $571,470.

281 homes were for sale.

A total of 100  homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 27%.

Median price was down from $396,725 to $359,900.

556 homes were for sale.

A total of 175 homes sold.

Kirkland

The odds of selling a home were 25%.

Median price increased to $559,000 from $515,000, an 8.5% increase.

278 homes were for sale.

A total of 84 homes sold.

West Bellevue

The odds of selling a home were 25%.

Median pricing was down from $921,500 to $780,000.

169 homes were for sale.

A total of 46 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 24%

Median pricing decreased from $529,450 to $461,950.

287 homes were for sale.

A total of 86 homes sold.

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



Posted on April 13, 2011 at 11:40 am
Sinick & Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , , , , , , , , ,

How Many Real Estate Sales Were in Your Seattle-Eastside City in February 2011?

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

How well did homes sell in February, 2011 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, so if 10 out of 100 homes sold, the odds of selling would be 10/100 or 10%)

Thirty-five percent of the homes for sale around Microsoft in Redmond and East Bellevue sold last month.  That’s an incredible number and one we haven’t seen for years.  Overall, February was the most positive month for eastside home sales in the past several years!

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

The odds of selling a home were 23%.

Median sales price dropped: $499,995 to $489,990.  Home values have been more stable here than anywhere else on the eastside.

There were 605 homes for sale.

A total of 153 homes sold.

Redmond/East Bellevue

The odds of selling a home were 35%.

Median sales price increased by 2% to $430,000 to $439,950.

157 homes were for sale

A total of 57 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 25.5%.

Median price decreased from $579,990 to $500,000.

283 homes were for sale.

A total of 83 homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 24.5%.

Median price was down from $397,000 to $375,000.

549 homes were for sale.

A total of 150 homes sold.

Kirkland

The odds of selling a home were 20%.

Median price increased to $542,725 from $537,500, a 1% increase.

251 homes were for sale.

A total of 60 homes sold.

West Bellevue

The odds of selling a home were 18%.

Median pricing was down from $981,750 to $899,000.

174 homes were for sale.

A total of 37 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 16%

Median pricing decreased from $474,950 to $450,000.

293 homes were for sale.

A total of 52 homes sold.

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



Posted on March 18, 2011 at 10:30 am
Sinick & Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , , , , , , , , ,

How Many Real Estate Sales were on Seattle's Eastside in February 2011?

Seattle Eastside Home Sales through 2-11

Seattle Eastside Residential Real Estate Sales Through February, 2011

Despite what the media is reporting, February Seattle-eastside real estate sales were the strongest we’ve seen in a very long time. If you look all the way back to December, 2009, there were more real estate sales in February than any other month, except March and April of last year.  More homes sold last March and April because of the tax credit.   However, this February’s higher sales numbers had nothing to do with a tax credit, but everything to do with buyers being more ready and willing to buy a home. In February there were 2446 homes for sale and 565 homes sold.

The other good news is the number of homes for sale last month was still low when compared to the other months shown on the chart. Because of this, there was a higher percentage of homes selling, 23% in fact.

So far this year, real estate sales on the eastside of Seattle are trending upward. Because of the strong economic base found in such eastside cities as Bellevue, Redmond, Kirkland, and Issaquah, I believe this trend will continue, at least for the near future.

If the number of homes for sale jumps up, it could have an impact on how quickly homes will sell. If we stay with lower levels of inventory, it should help the homes on the market  sell more quickly.  But if we end up with numbers like we often do in the summer when we have had 14000+ homes in King County on the market, sales will slow down.

Are you seeing more real estate sales in your neighborhood?

Posted on March 11, 2011 at 4:12 pm
Sinick & Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Seattle | Tagged , , , , , , , , , , ,

How Many Real Estate Sales Were on Seattle’s Eastside in January 2011 Compared to 2010?

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

How did January, 2010 compare to January, 2011 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, so if 10 out of 100 homes sold, the odds of selling would be 10/100 or 10%)

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

The odds of selling a home were 18%.

Median sales price hardly dropped: $499,900 to $493,975.  Home values have been more stable here than anywhere else on the eastside.

The number of homes for sale increased by 4% and the number of home sales decreased by 4%.

A total of 118 homes sold.

Redmond/East Bellevue

The odds of selling a home were 28%.

Median sales price decreased by 9% to $409,925 from $450,000.

The number of homes for sale was down by 16% and sales were down by 14%.

A total of 54 homes sold.

South Bellevue/Issaquah

The odds of selling a home were 19.5%.

Median price decreased from $559,900 to $460,000.

The number of homes for sale dropped by 10% and sales were down by 30%.

A total of 63 homes sold.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 18%.

Median price was down from $389,725 to $359,900.

The number of homes for sale declined by 3% and sales were down by 8%.

A total of 105 homes sold.

Kirkland

The odds of selling a home were 18%.

Median price increased to $506,950 from $499,950, a 1% increase.

The number of homes for sale declined by 19% and sales were down by 35%.

A total of 52 homes sold.

West Bellevue

The odds of selling a home were 21%.

Median pricing was up from $899,000 to $1,000,000.

The number of homes for sale decreased by 11% and sales increased by 48%.

The total of 40 homes sold.

Redmond/Education Hill/ Carnation

The odds of selling a home were 20%

Median pricing decreased from $524,990 to $376,250.

The number of homes for sale decreased by 5% and sales decreased by 8%.

A total of 52 homes sold.

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



Posted on February 16, 2011 at 6:35 am
Sinick & Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , , , , , , , , ,