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How Many Real Estate Sales Were on Seattle's Eastside in Dec 2010 Compared to 2009?
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Sales were much better in December, 2010 than Dec, 2009 almost everywhere, but not across the board. In 4 of the 7 Seattle-eastside real estate areas, sales percentages were up from 2009 t0 2010. Sales increases ranged from 2% in South Bellevue and Issaquah to 40% in Redmond/East Bellevue. East Bellevue and Redmond near Microsoft were hit pretty hard in December, 2009, but bounced back to be the strongest area on the eastside for most of 2010.
This month, I’ve included the total number of homes sold in each area in 2010. Some of the numbers are small, such as West Bellevue, when compared to areas such as Sammamish, etc. This is because West Bellevue is a much smaller area than Sammamish/North Bend/Snoqualmie/Fall City/and parts of Issaquah combined. Some of the areas cover huge numbers of homes and others do not.
The drop in the number of homes for sale on Seattle’s eastside continued in December, but did not hit the lowest point for the year. The number of homes for sale dropped to just above 11,000 at the close of 2010. Despite fewer homes on the market, home sales were moving in December. As I’ve said before, the homes with the best value proposition of price and condition got the attention of the buyers. Those were the homes that sold.
How did December, 2009 compare to December, 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 15.5%.
Median sales price was virtually the same: $499,900 to $499,450.
The number of homes for sale increased by 17.5% and the number of home sales were the same as last year plus one home!
A total of 1755 homes sold in 2010.
The odds of selling a home were 20.5%.
Median sales price decreased by 5% to $424,500 from $445,000.
The number of homes for sale was down by 18% and sales were up by 40%.
A total of 797 homes sold in 2010.
The odds of selling a home were 19%.
Median price decreased from $610,450 to $569,995.
The number of homes for sale dropped by 6% and sales were up by 2%.
A total of 1012 homes sold in 2010.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 18%.
Median price was up from $410,944 to $437,000.
The number of homes for sale declined by 3% and sales were up by 11.5%.
A total of 1473 homes sold in 2010.
The odds of selling a home were 16%.
Median price increased to $549,000 from $491,000.
The number of homes for sale declined by 17% and sales were down by 10%.
A total of 794 homes sold in 2010.
The odds of selling a home were 12%.
Median pricing was down from $847,440 to $729,000.
The number of homes for sale decreased by 8% and sales decreased by 26.5%.
The total number of homes sold in 2010 was 415.
Redmond/Education Hill/ Carnation
The odds of selling a home were 12%
Median pricing decreased from $549,950 to $524,970.
The number of homes for sale decreased by 5% and sales decreased by 16%.
A total of 766 homes sold in 2010.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
How Did November, 2010 Real Estate Sales Do In Your Seattle-Eastside Neighborhood?
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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.
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%.
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%.
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%.
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!
How Did October, 2010 Real Estate Sales Do In Your Seattle-Eastside Neighborhood?
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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.
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.
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%.
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%.
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.
How Did September, 2010 Seattle-Eastside Real Estate Sales Do In Your Neighborhood?
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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.
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%.
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%.
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%.
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?
How Did August, 2010 Seattle-Eastside Real Estate Sales Stack Up In Your Neighborhood?
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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.
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%.
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%.
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%.
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?
How Did July, 2010 Seattle-Eastside Real Estate Sales Stack Up In Your Neighborhood?
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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.
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%.
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%.
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%.
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.
How Did June, 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 June, 2009 stack up to June, 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 increased from $499,950 to $525,000.
The number of homes for sale dropped by 10% and sales were down by 27% from last year.
The odds of selling a home were 23%.
Median sales price dropped from $499,950 to $482,500.
The number of homes for sale dropped by 4% and sales were UP by 3%.
The odds of selling a home were 18%.
Median price decreased from $610,000 to $599,994.
The number of homes for sale dropped by 15% and sales were down by 3%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 14%.
Median price remained essentially equal to last year, $419,950 to $419,973 this year.
The number of homes for sale declined by 3% and sales were down by 23%.
The odds of selling a home were 13%.
Median price increased to $624,950 from $596,925.
The number of homes for sale declined by 19% and sales were down by 28%.
The odds of selling a home were 14%.
Median pricing was UP from $849,000 to $890,000.
The number of homes for sale decreased by 24% and sales decreased by 25.5%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 9%
Median pricing decreased from $529,950 to $474,950.
The number of homes for sale decreased by 4% and sales decreased by 42%.
Although real estate numbers are mostly down on Seattle’s eastside, 3 areas showed an increase in median prices and one area remained similar in pricing to last June. West Bellevue, the Sammamish plateau areas, and Woodinville, North Kirkland, Bothell and Kenmore had a 5% increase in sales prices. Last month, West Bellevue was the only area with an increase in median pricing over last year and that was at 17%.
The three other Seattle-eastside neighborhoods experienced a reduction in sales prices. These areas are South Bellevue, Redmond and Bellevue near Microsoft, and the downtown area of Redmond.
The number of homes for sale is near the highest for this year, but still 11% less than the number of homes for sale on the eastside last year, so that’s a good thing.
I expect the numbers to be down over the next month or two as summer is one of the slower times in Eastside real estate. Traditionally, people take a lot of time to enjoy the sun and the outdoors, since it is so fleeting.
How Did May, 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 May, 2009 stack up to May, 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 20.5%.
Median sales price increased from $524,950 to $559,880.
The number of homes for sale dropped by 20% and sales were up by 6% from last year.
The odds of selling a home were 18%.
Median sales price dropped from $515,000 to $480,000.
The number of homes for sale dropped by 10% and sales were down by 7.5%.
The odds of selling a home were 16%.
Median price increased to $624,975 from $619,000.
The number of homes for sale dropped by 19% and sales were down by 6%.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 12%.
Median price decreased to $451,126 from $459,500.
The number of homes for sale declined by 8% and sales were down by 22%.
The odds of selling a home were 15%.
Median price decreased to $599,000 from $599,950.
The number of homes for sale declined by 25% and sales were up by 3%.
The odds of selling a home were 19%.
Median pricing was up from $1,097,000 to $1,280,000.
The number of homes for sale decreased by 23% and sales decreased by 12.5%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 15.5%
Median pricing decreased from $569,895 to $519,950.
The number of homes for sale decreased by 17% and sales decreased by 18%.
When compared to May, 2009, only one area of Seattle’s eastside showed an increase in median prices. West Bellevue had the highest with a 17% increase in sales prices. Last month the area had the most significant decrease in pricing. The return of some strength to the high end market is a good sign. The high end was the least affected by the tax credit.
Most other Seattle-eastside neighborhoods experienced a reduction in sales prices.
Home sales also took a dip in most areas of the eastside. Two areas, Kirkland and the plateau area of Sammamish, had increased home sales, but only in the single digits.
Seventeen percent less homes are for sale on the eastside this year than last year.
Has your area seen a drop in home sales since the expiration of the tax credit?
2009 Ends With a More Balanced Real Estate Market Around Seattle
King-Snohomish County Real Estate December, 2009
December, 2009 Seattle real estate finished the year off on a more positive note. With so much of the Seattle area real estate market showing “yellow,” there was a solid return to a real estate market more evenly balanced between buyers and sellers. This is more like the real estate market we saw in the 1990’s.
There was still a significant increase in real estate sales from December, 2008, with West Bellevue leading the way on Seattle’s eastside. The number of West Bellevue home sales shot up by 279%! Because home prices in West Bellevue tend to be among the most expensive on Seattle’s eastside and in the Seattle area in general, this signaled more of return to confidence in the real estate market. Prices for high end homes have dropped to the point that buyers were more comfortable buying. Since most of these sales had nothing to do with the first time home buyer credit, this signaled a strong change in buyer confidence and willingness to buy.
Prices tended to be more reasonable all over the Seattle area. Lower prices, low interest rates, and the first time home buyers’ tax credit did a lot to open up the real estate market.
The year ended with the lowest number of homes on the market for all of 2009. The amount of properties for sale was similar to what was available in 2007. This does not mean the market will return to 2007 real estate activity, but it is a good thing to see that there were, and are, less properties for sale in the Seattle area.
What’s in store for 2010?
I expect the extension and expansion of the 2010 home buyer credit to continue to spur real estate sales on. I also expect it to bring more home sellers into the market, so competition could increase again. The number of properties for sale is a huge factor in pricing and market time. The first part of 2010 should be pretty active for both home buyers and sellers. After April 30th when the home buyer tax credit goes away, much will depend on how many homes are on the market and the interest rates.
As I’ve mentioned before, be prepared for any and everything with real estate sales in the coming months. There’s no “one size fits all.” Home sales will depend on the price point, location, the home’s condition, the competition, and/or a combination of these things. Some homes will sell quickly and for a good price, others will still undergo significant price reductions to meet market expectations, and others will sell, but for less than one would expect. This, actually, is what we expect to see in a normal, more balanced real estate market.
What do the numbers on the map mean?
The map is divided into the numbered areas as defined by our Northwest Multiple Listing Service (NWMLS). Downtown Bellevue is area 520 and East Bellevue is area 530, as an example.
What do the colors mean?
Red means it’s a sellers’ market, a sellers’ advantage.
Yellow means a balanced market between buyers and sellers.
Green means its a buyers’ market.
If you take each area as shown on the map and look to the area number on the side of the map, it will tell you how long it would take to sell every home currently for sale if no other home came up on the market in that area.
