Bellevue, WAEastside Real EstateFor BuyersFor HomeownersFor SellersIssaquah, WAKirklandMarket StatisticsReal EstateRedmondSammamish, WAWoodinville, WA January 31, 2014

Everything You’ve Ever Wanted to Know About Seattle Eastside Real Estate 2009-2013

Looking for a terrific picture of the state of real estate on Seattle's Eastside?  Here it is!  Since we're at the beginning of a new year, it's good to see where we've been over the last 5 years.  It gives a good indication of where we're headed for 2014.

The above chart highlights the most important trends in real estate over the last 5 years, from 2009-2013.  You can find median pricing, the number of homes on the market and the number of home sales per month and by year, and how long the supply would last, based on the number of home sales per month.  

Here's how each of the three sections of the chart are set up.  Each portion is divided by the years 2009-2013, as you can see along the bottom of the chart.  The blue bars show a different month in each of these years.  The red line shows the average for the year. 

The top portion of the chart has the information everyone seems to want to know first, the median pricing.   The fabulous news is how much higher median pricing is now than just a few years ago.  On the eastside, the average median price for a home sale was just under $600,000 at $596,848. 

The second chart demonstrates why prices have increased so dramatically.  It's the law of supply and demand.  The supply dropped considerably in 2012 and and 2013, thus increasing demand for this drastically decreased inventory of homes for sale, causing prices to jump.  With the amount of inventory at a low point at the start of 2014, we expect listings to move very quickly.  Our first listing of the year sold in 24 hours.  The home was not underpriced.  It was well priced, staged beautifully, and in excellent condition.  This type of home is very "hot" right now, as buyers are looking to find great homes. 

Another interesting detail to notice on the middle portion of the chart besides the decline in supply, is the number of home sales each year stays more constant, even as the supply changes.  The number of sales did increase in the last two years, but not nearly as dramatically as the decline in supply,  The increase in sales is a reflection of more buyers feeling comfortable making home purchases.

The lower section shows how much of a supply of homes there is available each month.  In 2009, when there were, on average 3400 homes for sale, it would have taken over 6 months to sell all the homes.  In 2013, when the Seattle Eastside real estate had so few homes for sale, it would have taken 1 1/2 months to sell all the available homes.

The take away from all of this is how terrific we find the real estate market to be at the end of 2013, which is the start of 2014 market.  We have low inventory plus many buyers equaling a high demand for homes, short market times, and increasing prices.  If you plan to make a move in 2014, consider doing so early in the year, when the inventory is at a low point.  Homes sell in every month on the eastside as you can see from this chart, the competition is far less when there are fewer homes for sale.

If you'd like more specific information regarding your home and/or you're thinking about making a move, feel free to contact us.  All the best in 2014!

 

Eastside Real EstateFor BuyersFor SellersMake More Money Selling Your HomeReal EstateSeattle real estateWA real estate May 22, 2013

How Can You Make More Money Selling Your Seattle Eastside Home?

It's simple.  Price your home right and it will sell quickly and for full price.  Overprice your home, it will take longer to sell and it'll sell for less than full price.  In today's hot real estate market, buyers know a good home when they see it because they run out to see everything as soon as it comes up for sale.  If it's priced right, a home will attract multiple offers and sell for full price or more.  If it doesn't sell quickly, given the shortage of supply, it's clear a house is overpriced and will need a price reduction to attract a buyer. 

Two thirds of the sellers got it right during the first quarter of the year and sold their homes quickly and for full price or more.  When you price your home, position yourself to be in that two thirds that sells for full price.  If you do, you'll end up walking away with more money in your pocket.

Bellevue, WAEastside Real EstateFor BuyersFor SellersIssaquah, WAKirklandReal EstateRedmondSammamish, WAWindermere Real EstateWoodinville, WA December 6, 2012

Many Homes on Seattle’s Eastside Are Selling For Over Full Price!

In the third quarter of 2012, almost 30% of the homes that sold in the cities of Bellevue, Redmond, Kirkland, Sammamish, Woodinville, Issaquah sold for over full price!  The demand by buyers for homes and the lack of inventory is creating this huge uptick in competition for a home. When more buyers are competing for the same house, the offers often have to be for more than full price to stand out from the competition.   Many homes are now getting multiple offers and many, almost a third, are now selling for more than the asking price. 

We've recently sold several listings in which the selling price was over $20,000 more than the asking price!  In one instance, the home had come on the market only hours before.  The buyers didn't want to take the risk that another offer would be written before the seller had time to respond, so they offered over full price.  Another home sold within 48 hours.  Three buyers made offers for that home. 

As you can see in the above chart, the homes that sell for more than full price, sell for about 3% above the asking price, with the range from just a hair over asking price all the way to 22.5% above the asking price!

Twenty-one percent of the homes sold for full price.  This means 51% of the homes on the eastside sold for full price or more!

The homes that sold above full price only lasted on the market, on average,16 days.  Homes that sold for full price were on the market for about a month. 

But what about the other 49%?  (Not to be confused with the 47% that was talked about in the election) 

Why did half the homes sell for less than full price if the market is so hot?  More than likely, one of these reasons was the cause:

 

  • Location
  • Pricing
  • Condition
  • Marketing
  • Competition

 

You can't change the location or the fact that there is competition for a particular home.  But when selling a home, you need to maximize your buyer attraction by pricing your home well, having it in stellar condition, and presenting it well to the buyers through fabulous marketing.

If you have questions about how to have your home be one of the 51% that sells for full price or more, feel free to contact us!

Bellevue, WAEastside Real EstateFor BuyersFor SellersKing County Real EstateMarket StatisticsReal EstateRedmondSeattleWAWA real estate May 11, 2012

The Real Estate Sales Numbers in Redmond, Kirkland, Bellevue Continue to Be Fabulous

This tells it like it is in the Seattle area real estate market.  The entire region, with the exception of Vashon Island in yellow, is a sellers market, which is indicated by the color red.  The top sales rate, not the most sales, once again goes to Redmond and East Bellevue near Microsoft.  In March, 80% of the homes sold there, while 69% sold in April! The odds of selling a home were the lowest in other parts of Redmond and Carnation.  But at 32%, the odds were still good.  This is a testament to the positive economy in the Seattle area and on the eastside.

Microsoft is hiring and moving people around the country.  We know this first hand as we’re working with three different buyers who are either moving into the Bellevue/Redmond area or moving out of state for Microsoft.

Multiple offers, a shortage of homes, a huge percentage of homes selling in a short amount of time. some price increases (although minimal) are happening all over the Seattle eastside real estate market.  The Seattle Times recently published a very positive picture of the local real estate market.

 

Here’s how your city did:

The cities below are reported together to follow our MLS areas (multiple listing service) information.

 

1. Redmond/East Bellevue

The odds of selling a home were 69%!!!!!

Median sales price decreased from $430,000 to $428,000 (y-o-y)**

97 homes were for sale

A total of 67 homes sold

Days on the market: 70

 

2. South Bellevue/Issaquah

The odds of selling a home were 48%

Median price increased from $520,000 to $522,000

244 homes were for sale

A total of 118 homes sold

Days on market: 85

 

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

The odds of selling a home were 44%

Median sales price increased from $467,000 to $472,000

There were 467 homes for sale

A total of 203 homes sold

Days on the market: 110

 

4. Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 42%

Median sales price increased from $383,000 to $385,000

397 homes were for sale

A total of 165 homes sold

Days on Market: 103

 

5. Kirkland

The odds of selling a home were 36%

Median sales price decreased from $550,000 to $430,000

132 homes were for sale

A total of 47 homes sold

Days on Market:  72

 

6. West Bellevue

The odds of selling a home were 34%.

Median sales price increased from $973,000 to $1,185,000

118 homes were for sale

A total of 40 homes sold

Days on Market: 107

 

7. Redmond/Education Hill/ Carnation

The odds of selling a home were 32%

Median sales price increased from $452,000 to $538,000!

219 homes were for sale

A total of 69 homes sold

Days on Market: 159

 

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

*(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%)

** (y-o-y)  median pricing is comparing year over year numbers.

How was real estate market in your area in April, 2012?

Bellevue, WAFor BuyersFor SellersIssaquah, WAKing County Real EstateKirklandMarket StatisticsReal EstateRedmondSammamish, WASeattleWA real estateWoodinville, WA April 13, 2012

Real Estate Sales in Bellevue, Kirkland, and Redmond, Etc Are Hot!

 

Red is busting out all over the map of Seattle Real Estate Sales!  Red means it’s a sellers market in which homes, on average, are selling in less than 3 months!  The numbers are really strong in all of the eastside cities, but top sales go to the 80% sales rate in Redmond and East Bellevue near Microsoft last month!  Incredible odds!  In every other area on the eastside over 40% of the homes sold.

Closed sales, the sales in which the new buyer now owns the house, are showing lower sales numbers because the homes that closed in March actually got offers in January or February.  Expect the number of sales for each of the coming months to jump   higher because March home sales will be closing in April and May..  Market time will continue to decrease as this faster sales market continues.

Pricing has still been dropping as you can see below, but should become more stable as the prices from these March sales becomes public. Some areas actually showed an increase in pricing, but remember, it is a representation of the sales that sold in March only.

Multiple offers, a shortage of homes, a huge percentage of homes selling in a short amount of time are all  the buzz words for the Seattle eastside real estate market.

Here’s how your city did:

The cities below are reported together to follow our MLS areas (multiple listing service) information.

1. Redmond/East Bellevue

The odds of selling a home were 80%

Median sales price decreased from $476,000 to $427,000 (y-o-y)**

95 homes were for sale

A total of 76 homes sold

Days on the market: 135

 

2. Kirkland

The odds of selling a home were 57%

Median sales price decreased from $570,000 to $469,000

137 homes were for sale

A total of 53 homes sold

Days on Market:  83

 

3. West Bellevue

The odds of selling a home were 46%.

Median sales price increased from $888,000 to $1,000,000

117 homes were for sale

A total of 54 homes sold

Days on Market: 70

 

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

The odds of selling a home were 44%

Median sales price decreased from $505,000 to $462,000

There were 436 homes for sale

A total of 193 homes sold

Days on the market: 127

 

4. (tie)  South Bellevue/Issaquah

The odds of selling a home were 44%

Median price increased from $510,000 to $560,000

225 homes were for sale

A total of 98 homes sold

Days on market: 99

 

5. Redmond/Education Hill/ Carnation

The odds of selling a home were 43%

Median sales price increased from $411,000 to $472,000

193 homes were for sale

A total of 83 homes sold

Days on Market: 100

 

6. Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 42%

Median sales price decreased from $423,000 to $369,000

365 homes were for sale

A total of 151 homes sold

Days on Market: 100

 

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

*(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%)

** (y-o-y)  median pricing is comparing year over year numbers.

How was real estate market in your area in March, 2012?

Bellevue Real EstateBellevue, WAEastside Real EstateFor BuyersFor SellersIssaquah Real EstateIssaquah, WAMarket StatisticsReal EstateRedmondSammamish, WASammamish, WA Real EstateWoodinville, WAWoodinville, WA Real Estate February 29, 2012

How Was The Real Estate Market In Bellevue, Kirkland, Redmond, and Other Eastside Cities At The Start of 2012?

 

What a difference a month makes!  The January Real Estate Map shows a “Seller’s Advantage” in our market!

There’s a lot of  “red” on the above Seattle area real estate map!  There’s more “red” than we’ve seen in years, and I mean years.  What does the “red” mean?  It means it’s a seller’s market. The homes that are in the “red” areas sell in less than 3 months on average.  In January, most of the eastside was a seller’s market.  Mercer Island, West Bellevue, and Kirkland did not quite reach the threshold of a seller’s market, but Kirkland was almost there.  The real estate markets in these areas were more evenly balanced between the buyers and sellers as homes sold on average within 3-6 months.

This real estate market is pretty exciting to see after the tough markets of the last few  years.  But what this really means is that we have a more normal market on Seattle’s eastside. The good homes that are priced right and show well are the homes that are selling quickly and bringing the average market time down.  There are and still will be homes that aren’t priced well or don’t show well which will sit on the market and take longer to sell.

The chance of a home selling in the different eastside cities ranged from 15-30%. West Bellevue had the fewest sales when compared to the number of available homes, while the plateau cities of Sammamish, North Bend, and Fall City saw almost a third of the homes sell in one month!

The Seattle Times talked about the drop in median prices, but was careful to point out that data varies from city to city and neighborhood to neighborhood.

But King County is a big place, and the real-estate market isn’t the same in SeaTac as it is in Sammamish.
A closer look at the statistics reveals significant variations from neighborhood to neighborhood.

It’s good to see the Times recognizing the neighborhood differences, since too many times the media publishes data, which covers too broad an area.  This does not give an accurate picture of the real estate data.

The cities below are grouped together to follow our MLS areas (multiple listing service).  This is how our statistics are reported. 

How was real estate market in your Seattle-Eastside city in January, 2012?


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

The odds of selling a home were 30%

Median sales price decreased from $496,000 to $465,000  (y-o-y)**

There were 469 homes for sale

A total of 86 homes sold

Days on the market: 123

 

2.  South Bellevue/Issaquah

The odds of selling a home were 28%

Median price decreased from $575,000 to $484,000

226 homes were for sale

A total of 35 homes sold

Days on market: 90

 

3. Kirkland

The odds of selling a home were 27%

Median sales price decreased from $534,000 to $522,000

155 homes were for sale

A total of 34 homes sold

Days on Market:  62

 

4. Redmond/East Bellevue

The odds of selling a home were 26%

Median sales price increased from $380,000 to $460,000

125 homes were for sale

A total of 32 homes sold

Days on the market: 94

 

5. Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 25%

Median sales price decreased from $390,000 to $344,000

387 homes were for sale

A total of 64 homes sold

Days on Market: 115

 

6.  Redmond/Education Hill/ Carnation

The odds of selling a home were 21%

Median sales price decreased from $522,000 to $483,000

193 homes were for sale

A total of 30 homes sold

Days on Market: 112

 

5. West Bellevue

The odds of selling a home were 15%.

Median sales price increased from $650,000 to $1,230,000

118 homes were for sale

A total of 18 homes sold

Days on Market: 86

 

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

*(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%)

** (y-o-y)  median pricing is comparing year over year numbers.

Bellevue, WAEastside Real EstateFor BuyersFor SellersIssaquah, WAKirklandMarket StatisticsReal EstateRedmondSammamish, WASeattle real estateWindermere Real EstateWoodinville, WA January 11, 2012

How Was The Real Estate Market In Your Seattle-Eastside City in December 2011?

The December Real Estate Map Showing a Balanced Market Between Buyers and Sellers

 

The cities below are grouped together to follow our MLS areas (multiple listing service).  This is how our statistics are reported.

How was real estate market in your Seattle-Eastside city in December, 2011?

1. Redmond/East Bellevue

The odds of selling a home were 36%*

Median sales price increased (y-o-y)**from $420,000 to $455,000

125 homes were for sale

A total of 42 homes sold

Days on the market: 104

2. Kirkland

The odds of selling a home were 19%

Median sales price increased  from $498,000 to $510,000

167 homes were for sale

A total of 57 homes sold

Days on Market:  101

2. (TIE) South Bellevue/Issaquah

The odds of selling a home were 19%

Median price decreased from $560,000 to $505,000

242 homes were for sale

A total of 58 homes sold

Days on market: 123

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

The odds of selling a home were 17%

Median sales price increased from $440,000 to $463,000

There were 527 homes for sale

A total of 116 homes sold

Days on the market: 103

4.  Redmond/Education Hill/ Carnation

The odds of selling a home were 16%

Median sales price decreased from $530,000 to $515,000

207 homes were for sale

A total of 66 homes sold

Days on Market: 115

4. (TIE) Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 16%

Median sales price decreased from $393,000 to $339,000

421 homes were for sale

A total of 96 homes sold

Days on Market: 127

5. West Bellevue

The odds of selling a home were 10%.

Median sales price increased from $950,000 to $998,000

127 homes were for sale

A total of 15 homes sold

Days on Market: 95

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

*(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%)

** (y-o-y)  median pricing is comparing year over year numbers.

Bellevue, WAEastside Real EstateFor BuyersFor SellersIssaquah, WAKing County Real EstateMarket StatisticsReal EstateSammamish, WASeattle real estateWoodinville, WA December 14, 2011

How Was The Real Estate Market in your Seattle-Eastside City in November 2011?

 
If you lived in Kirkland and had your home for sale last month, the odds of it selling in November were 31%, the strongest absorption rate to be found on the eastside.*  The homes in East Bellevue and Redmond areas around Microsoft had a 29% chance of selling.  Chances of selling ranged from 11-22.5% in the other eastside cities.
 
Homes in East Bellevue and Redmond near Microsoft sold the fastest on Seattle’s eastside.  On average, homes there sold in 2 months.   Market time for the other eastside cities, ranged from 3 to 4 months.
 
This is reasonable market time, indicating a balanced market between buyers and sellers.  A balanced market means there’s a more normal market.  Some homes sold quickly and others stayed on the market for a long time.   Some homes sold for full price and others sold at steep discounts.
 
Seattle Real Estate is a more balanced market between buyers and sellers

The November Real Estate Map Showing a More Balanced Market Between Buyers and Sellers

 

The cities below are grouped together to follow our MLS areas (multiple listing service).  This is how our statistics are reported.
 
How was real estate market in your Seattle-eastside city in November, 2011?
 
1. Kirkland

The odds of selling a home were 31%.*

Median price decreased  (y-o-y)** from $530,000 to $477,000.

188 homes were for sale.

A total of 58 homes sold.

Days on Market:  105
 
2. Redmond/East Bellevue

The odds of selling a home were 29%.

Median sales price decreased to $418,000 from $527,000.

163 homes were for sale

A total of 48 homes sold.

Days on the market: 60
 
3. South Bellevue/Issaquah

The odds of selling a home were 22.5%.

Median price increased from $538,000 to $550,000.

267 homes were for sale.

A total of 60 homes sold.

Days on market: 98
 
4. Redmond/Education Hill/ Carnation

The odds of selling a home were 22%

Median pricing decreased from $540,000 to $530,000.

247 homes were for sale.

A total of 54 homes sold.

Days on Market: 104
 
4. (tie) Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 22%.

Median price was down from $451,000 to $394,000.

481 homes were for sale.

A total of 105 homes sold.

Days on Market: 114
 
5. The plateau:  Sammamish, Issaquah, North Bend, and Fall City

The odds of selling a home were 18%.

Median sales price decreased from $460,000 to $441,000.

There were 580 homes for sale.

A total of 104 homes sold.

Days on the market: 119
 
6. West Bellevue

The odds of selling a home were 11%.

Median pricing decreased to $950,000 from $1,035,000.

127 homes were for sale.

A total of 14 homes sold.

Days on Market: 91

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

*(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%)

** (y-o-y)  median pricing is comparing year over year numbers.



Bellevue Real EstateFor BuyersFor SellersIssaquah Real EstateKing County Real EstateKirklandMarket StatisticsReal EstateRedmondSammamish, WA Real EstateWoodinville, WA Real Estate June 15, 2011

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.



Bellevue Real EstateBellevue, WAFor BuyersFor SellersIssaquah Real EstateIssaquah, WAKirklandMarket StatisticsReal EstateRedmondSammamish, WASammamish, WA Real EstateSeattle real estateWoodinville, WAWoodinville, WA Real Estate May 12, 2011

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.