How Did November, 2010 Real Estate Sales Do In Your Seattle-Eastside Neighborhood?

[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]

In 5 of the 7 Seattle-eastside real estate areas, sales percentages were up by a lot from last year!  Sales increases ranged from 13.5% in Redmond/Carnation to 47% in Redmond/East Bellevue.

We also saw a huge drop in the number of homes for sale on Seattle’s eastside over the past few months.  A higher percentage of  home sales and less homes for sale is good news.  The market is still challenging.   The homes with the best value proposition of price and condition  grab the attention of the buyers.  These are homes that are selling.

How did November, 2009 compare to November, 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, 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 16%.

Median sales price decreased from $552,500 to  $474,000.

The number of homes for sale increased by 12% and sales were down by 15% from last year.

Redmond/East Bellevue

The odds of selling a home were 22%.

Median sales price decreased to $416,500 from $479,000.

The number of homes for sale was down by 12% and sales were up by 47%.

South Bellevue/Issaquah

The odds of selling a home were 22%.

Median price decreased from $685,000 to $599,419.

The number of homes for sale dropped by 10% and sales were up by 26%.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 15%.

Median price was down from $411,750 to $405,000.

The number of homes for sale declined by 3% and sales were up by 41%.

Kirkland

The odds of selling a home were 17%.

Median price decreased to $549,950 from $739,000.

The number of homes for sale declined by 16% and sales were up by 13.5%.

West Bellevue

The odds of selling a home were 15%.

Median pricing was down from $996,500 to $829,500.

The number of homes for sale decreased by 9% and sales decreased by 3%.

Redmond/Education Hill/ Carnation

The odds of selling a home were 16 %

Median pricing decreased from $559,900 to $525,000.

The number of homes for sale decreased by 3% and sales increased by 16%.

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

Have a terrific holiday season and Happy New Year!


Posted on December 15, 2010 at 3:44 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, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

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

Are Seattle-eastside home sales going “merrily” along? Merrily may be an extreme word to use in this case to describe Seattle-eastside real estate, however, it’s good news to see in 5 of the 7 eastside areas, there were more home sales this November than last.   In some areas, there was a huge increase in the number of homes sold when compared to last year.

Seattle Eastside Home Sales

Seattle Eastside Real Estate Sales, Nov 2010

The odds of selling a home on the Eastside in November ranged from 15% to 23%, with an average 17% absorption rate.*  Most home sellers on Seattle’s eastside had a 17/100 change of selling their home last month.

*(The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.  If the absorption rate is 10%, then 10 out of the 100 homes for sale sold that month.)

November, 2010      2818 homes for sale    485 homes sold         17%  odds of selling.

October, 2010          3267 homes for sale     477(was 519) homes sold    15% (was 16%) odds of selling.*

September, 2010    3487 homes for sale     422 homes sold          12% odds of selling.*

November,  2009    2943 homes for sale    431 homes sold           15% odds of selling.

*(Some home sales fail because of the buyer financing or an inspection.  The number of sales is updated when we find out the actual number of homes that sold during that time.)

_____________________________________________________________

November, 2009 Seattle-Eastside real estate market compared to November, 2010:

     

  • The average  price of pending homes (recently sold homes) went from $612,955 to $532,907.
  • As of this past week, there were 11,519 King County homes (houses and condos) for sale, there are about 3000 less homes for sale in King County now than in July.
  • The number of homes sold on Seattle’s Eastside: down 15% from last year.
  • Number of homes for sale on Seattle’s Eastside: About 450 fewer homes for sale than in October, 669 less than in September and 125 less than November of 2009.
  • If you look at all 4 months worth of sales above, you can see the number of homes sold does not vary as much as the number of homes for sale.  Each month, between 422-485 homes sold.   Whereas the number of homes for sale varied by as much as 600 homes.

Best odds of selling: South Bellevue/Issaquah, and East Bellevue/Redmond areas around Microsoft.

Worst odds of selling: West Bellevue and Woodinville/North Kirkland/Kenmore and Bothell.

Biggest increase in sales from last year: East Bellevue/Redmond near Microsoft.

Smallest increase in sales from last year: Kirkland, which had the highest increase in sales last month.

Decline in home sales from last year: There was a decline in 2 out of the 7 Seattle-eastside areas.  Sammamish/Issaquah/North Bend/ Fall City had the largest decline in home sales.

The peak of homes for sale in 2008: July,  4370 homes.

The peak of homes for sale in 2009: June,  3859 homes.

The peak of homes for sale in 2010: August, 3492 homes.

The number of eastside homes for sale at the start of 2010: 2584 homes

The number of eastside homes for sale now: 2818 homes.

How are home sales going in your neighborhood?  Do you see less “for sale” signs out there this past month?

Posted on December 13, 2010 at 4:24 pm
The Beaupain Team | Category: 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, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

How Did October, 2010 Real Estate Sales Do In Your Seattle-Eastside Neighborhood?

[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]

Ok, the real estate market is slower, that much we all know, but it’s not dead and there are homes selling. These are the homes that stand out compared to the competition, because they show well and are seen as a value.  Today’s pricing is similar to 2005 pricing.  I’ll post another piece which shows these numbers.

Sales were down by a huge amount in Woodinville, Kenmore, Bothell,  Duvall, and North Kirkland.  The sales dropped by 42% from last year.

The number of homes for sale in King County has dropped below 13,000 for the first time since early May. On Seattle’s eastside, the number of homes for sale is down by about 200 homes.   These numbers are headed in the right direction.

In “Microsoft land”, the neighborhoods of Redmond and East Bellevue near Microsoft’s home base, the sales prices actually went up by about 1% in value.  Remember, the median pricing for any month will reflect the sales for that month and it is important to look at several months or more to see the real trend.  I wish I could say this month’s increase was the norm, but if you look at past posts and the charts in the link above, you’ll see this is not the case.

Expect to see more homes come off the market as we head towards the holidays.  We started the year with 9700+ homes for sale in King County, which was the lowest number of the year. So if you plan to sell next year, think about getting on the market early, when your home will have less competition.
Happy Turkey Day!

How did October, 2009 compare to October, 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, 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 decreased from $509,000 to  $477,500.

The number of homes for sale increased by 16% and sales were down by 9% from last year.

West Redmond/East Bellevue

The odds of selling a home were 18%.

Median sales price increased to $449,900 from $445,000.

The number of homes for sale was up by 2% and sales were even with last year.

South Bellevue/Issaquah

The odds of selling a home were 15%.

Median price decreased to $514,500 from $592,500.

The number of homes for sale dropped by 1.5% and sales were down by 28%.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 11%.

Median price was down from $429,975 to $403,450.

The number of homes for sale declined by 2% and sales were down by 41%.

Kirkland

The odds of selling a home were 19%.

Median price decreased to $488,900 from $500,000.

The number of homes for sale declined by 7% and sales were down by 9%.

West Bellevue

The odds of selling a home were 9.5%.

Median pricing was down from $1,150,000 to $948,000.

The number of homes for sale decreased by 9% and sales decreased by 27%.

Redmond/Education Hill/ Carnation

The odds of selling a home were 16 %

Median pricing decreased from $449,995 to $474,950.

The number of homes for sale increased by 8% and sales decreased by 32%.

What real estate activity have you seen in your neighborhood?  If you would like more specific information about your neighborhood or home, feel free to contact me.


Posted on November 12, 2010 at 8:37 am
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, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

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

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Posted on November 11, 2010 at 5:53 am
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Homeowners, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA Real Estate | Tagged , , , , , ,

How Did September, 2010 Seattle-Eastside Real Estate Sales Do In Your Neighborhood?

[googlemaps http://maps.google.com/maps?source=s_q&hl=en&geocode=&q=Seattle-eastside&sll=47.709762,-122.011414&sspn=0.310487,0.911865&ie=UTF8&split=1&radius=21.22&rq=1&ev=zo&hq=Seattle-eastside&hnear=&ll=47.709762,-122.011414&spn=0.310487,0.911865&t=h&output=embed&w=425&h=350]

How did September, 2009 compare to September, 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, 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 13%.

Median sales price increased from $493,995 $500,000.

The number of homes for sale increased by 15% and sales were down by 25% from last year.

West Redmond/East Bellevue

The odds of selling a home were 17%.

Median sales price decreased to $464,750 from $499,500.

The number of homes for sale was up by 15% and sales were down by 25%.

South Bellevue/Issaquah

The odds of selling a home were 13%.

Median price decreased to $520,000 from $564,900.

The number of homes for sale dropped by 8% and sales were down by 4%.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 14%.

Median price was down from $399,975 to $389,500.

The number of homes for sale declined by 6% and sales were down by 15%.

Kirkland

The odds of selling a home were 13%.

Median price increased to $599,000 from $549,950.

The number of homes for sale declined by 8% and sales were down by 17%.

West Bellevue

The odds of selling a home were 13%.

Median pricing was down from $1,012,000 to $899,000.

The number of homes for sale decreased by 15% and sales decreased by 30%. (Another big hit!)

Redmond/Education Hill/ Carnation

The odds of selling a home were 14.5 %

Median pricing increased from $449,950 to $499,925.

The number of homes for sale increased by 5% and sales decreased by 2%.

The real estate sales numbers are down on Seattle’s eastside, which is no big surprise to many of us.  However, again we see median pricing up in 3 out of 7 neighborhoods.  Don’t get too excited though.  The median pricing is based on the homes that sold that month, not on the trend for the whole year.  I can safely say median pricing is down since last year all over the eastside, even if a month or two shows an increase.  We have to look at the overall trend for the year.

Sales were down by a lot, 30% in West Bellevue.  In East Bellevue/Redmond near Microsoft and on the Sammamish plateau, sales were down by 25%.  These are big numbers.

The number of homes for sale on Seattle’s eastside is starting to head downward.  (This is a good thing.) There are 400 fewer homes on the market in King County than just a few weeks ago.  I expect to see that number continue to drop.

What real estate activity have you seen in your neighborhood?



Posted on October 13, 2010 at 12:58 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

How Was The Seattle-Eastside Real Estate Market in September, 2010?

 

Seattle-eastside Home Sales Stats

Seattle-Eastside Real Estate Sales, September 2010

 

So how was the September real estate market on Seattle’s eastside?

The odds of selling a home on the Eastside in September ranged from 13% to 17%, with an average 14% absorption rate.*  Most home sellers on Seattle’s eastside had a 14/100 change of selling their home last month.  The absorption rates were pretty consistent throughout the whole eastside.

*(The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.  If the absorption rate is 10%, then 10 out of 100 homes sold that month.)

September, 2010    3487 homes for sale     475 homes sold          14% odds of selling.

August, 2010           3492 homes for sale     473 (was 491) homes sold     13.5% (was 15%) odds of selling.*

September,  2009   3518 homes for sale     581  homes sold         19.5% odds of selling.

*(Some home sales fail because of the buyer financing or an inspection.  The number of sales is updated when we find out the actual number of homes that sold during that time.)

_____________________________________________________________

September, 2009 Seattle-Eastside real estate market compared to September, 2010:

     

  • The average  price of pending homes (recently sold homes) went from $532,922 to $521,576.  Two neighborhoods showed an increase in prices for the month.
  • As of this past week, there were 13,867 King County homes (houses and condos) for sale.
  • The number of homes sold on Seattle’s Eastside:  down 18% from last year.
  • Number of homes for sale on Seattle’s Eastside:  Almost 250 more homes for sale than last year.
  • The reality is the actual number of homes selling has not changed all that much, it’s the competition that has increased by a huge margin.  Since it is more competitive out there, the homes that are priced right and show well are the homes the buyers pick to buy.

Best odds of selling: Redmond, near Microsoft, and East Bellevue. 

Worst odds of selling: West Bellevue, although it’s within a hair of most all the other eastside neighborhoods.

Biggest increase in sales from last year: None, there was no increase in home sales from last year to this year in any of the eastside areas.

Smallest increase in sales from last year: No increases.

Decline in home sales from last year: There was a decline in 7 out of the 7 Seattle-eastside areas. West Bellevue had the largest decline in home sales with 30% decline in the number of homes sold.  The Sammamish plateau area and the Redmond/East Bellevue area around Microsoft both had 25% decline in home sales.

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: 3487 homes.

For a picture of King County sales, check out The Seattle Times.

What are you seeing in your neighborhood?  Are some doing better than others?

Posted on October 12, 2010 at 11:57 am
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, 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 , , , , , ,

What Were The Odds of Selling Your Seattle-Eastside Home in August, 2010?

Real Estate Activity on Seattle's eastside, August, 2010

Seattle-Eastside Real Estate, August 2010

The odds of selling a home on the Eastside in August, 2010 ranged from a low of 6% to a high of 21%, with an average 14% absorption rate.  This month, West Bellevue is in the single digits,  at 6%.

The real estate activity in the summer months has turned out to be very different than the activity in the spring.  Clearly, both buyers and sellers rushed to buy and sell before the tax credit expired.  We have a buyers’ market for most of the eastside again, which means buyers can choose from a variety of nice homes and probably not find other buyers competing with them.

(The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)

August, 2010          3492 homes for sale     491 homes sold            15% odds of selling.

July, 2010               3468 homes for sale     470 homes sold           13.5% odds of selling.

August,  2009        3604 homes for sale     580  homes sold         16% odds of selling.

_____________________________________________________________

August, 2009 Seattle-Eastside real estate market compared to August, 2010:

  • The average  price of pending homes (recently sold homes) went from $543,639 to $532,692.  Some neighborhoods showed an increase in prices for the month.
  • As of this past week, there were 14,333 King County homes (houses and condos) for sale, less than late July’s high of 14,639.
  • Home sales on Seattle’s Eastside:   down 2.5% from last August’s number.
  • Number of homes for sale on Seattle’s Eastside:  down 3% from last year.
  • The reality is some homes are selling well, but it is only those homes priced well and showing well.

Best odds of selling: Redmond, near Microsoft, and East Bellevue. 

Worst odds of selling: West Bellevue

Biggest increase in sales from last year: An 8% increase in home sales in Redmond, near Microsoft and East Bellevue.

Smallest increase in sales from last year: Same as above.  This area had the only increase in Seattle-eastside home sales in August.

Decline in real estate sales from last year: There was a decline in 6 out of the 7 Seattle-eastside areas. West Bellevue had the largest decline in home sales with 65% 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 now: 3492 homes.

For a picture of King County sales, check out The Seattle Times.

Posted on September 16, 2010 at 7:52 am
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, 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, WA real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

How Did August, 2010 Seattle-Eastside Real Estate Sales Stack Up In Your Neighborhood?

[googlemaps http://maps.google.com/maps?source=s_q&hl=en&geocode=&q=Seattle-eastside&sll=47.709762,-122.011414&sspn=0.310487,0.911865&ie=UTF8&split=1&radius=21.22&rq=1&ev=zo&hq=Seattle-eastside&hnear=&ll=47.709762,-122.011414&spn=0.310487,0.911865&t=h&output=embed&w=425&h=350]

How did August, 2009 stack up to August, 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 16%.

Median sales price decreased from $515,000 $479,895.

The number of homes for sale increased by 9% and sales were down by 17% from last year.

West Redmond/East Bellevue

The odds of selling a home were 21%.

Median sales price increased to $494,900 from $475,000.

The number of homes for sale were up by 4% and sales were UP by 8%.

South Bellevue/Issaquah

The odds of selling a home were 14%.

Median price increased to $550,000 from $499,500.

The number of homes for sale dropped by 13% and sales were down by 26%.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 13%.

Median price was down from $425,000 to $415,000.

The number of homes for sale declined by 2% and sales were down by 27%.

Kirkland

The odds of selling a home were 14%.

Median price increased to $641,000 from $581,919.

The number of homes for sale declined by 13% and sales were down by 27%.

West Bellevue

The odds of selling a home were 6%.

Median pricing was down from $899,475 to $869,000.

The number of homes for sale decreased by 16% and sales decreased by 65%. (Ouch!)

Redmond/Education Hill/ Carnation

The odds of selling a home were 15%

Median pricing increased from $542,250 to $549,950.

The number of homes for sale increased by 12% and sales decreased by 10%.

Real estate sales numbers are down on Seattle’s eastside, with the exception of one area.  The East Bellevue and Redmond area near Microsoft showed a slight increase in the number of homes sold.  This area was also the only area to show an increase in median price, number of homes on the market (not so good), and number of homes sold.  However, median pricing was up in 3 other areas, South Bellevue and Issaquah,  Kirkland, and Redmond and Carnation.

The number of homes for sale on Seattle’s eastside is the highest for this year, but should be experiencing a downward swing as we head into fall. Right now, though, there are a lot of choices out there and not as many buyers to compete with.  Good buys are out there if you take your time and check out the homes for sale.

What real estate activity have you seen in your neighborhood?



Posted on September 15, 2010 at 6:00 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, For Sellers, Issaquah Real Estate, Issaquah, WA, Just for Fun, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

How Did July, 2010 Seattle-Eastside Real Estate Sales Stack Up In Your Neighborhood?

[googlemaps http://maps.google.com/maps?source=s_q&hl=en&geocode=&q=Seattle-eastside&sll=47.709762,-122.011414&sspn=0.310487,0.911865&ie=UTF8&split=1&radius=21.22&rq=1&ev=zo&hq=Seattle-eastside&hnear=&ll=47.709762,-122.011414&spn=0.310487,0.911865&t=h&output=embed&w=425&h=350]

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.



Posted on August 12, 2010 at 10:38 am
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, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

What Were The Odds of Selling Your Seattle-Eastside Home in July, 2010?

Real Estate Sales for Seattle-Eastside, july, 2010

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?

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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.

Posted on August 11, 2010 at 9:50 am
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, Financing, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,