Has a Positive Trend Started in Seattle-Eastside Real Estate?

The positive trend in Seattle’s eastside real estate continued from December, 2010 to January’s sales.  Maybe the uptick in December was not an anomaly?  We’ll still need to wait and see.

This, again,  is what the Seattle Times said after December’s home sales numbers were released:

• Buyers are climbing off the fence, even if they suspect prices will continue slipping, because they fear interest rates will rise and wipe out any savings.

There was a lot more “climbing off the fence” in January.  Truthfully, the number of sales hasn’t increased all that much, but the number of homes the buyers have to choose from is a lot less.  It’s that old law of supply and demand, which is what we call the absorption rate.*

There are fewer homes to choose from, so the good ones are grabbed up.   That’s what feels different. The “fence sitters’ are jumping on the good home buys.  Some homes that hit the market are gone in a matter of days. The homes that are priced right and show well are the homes that sell quickly.

Since the last two months have had stronger absorption rates, I hesitate to call it a trend just yet, but I’ll keep you posted.  I can tell you that the number of buyers looking at homes, multiple offers (gasp), and the absorption rate (see below) have all increased since the first of the year.


Seattle eastside real estate sales

Seattle Eastside Real Estate Sales-January 2011

The odds of selling a home on the Eastside in January ranged from 18% to 28%, with an average 19.5% absorption rate.*  Most home sellers on Seattle’s eastside had a 19/100 chance 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.)

January, 2011          2392  homes for sale    467  homes sold                 19% odds of selling.

December, 2010      2499 homes for sale    369 (was 397) homes sold     15%  (was 16%) odds of selling.**

January, 2010          2588 homes for sale   460 homes sold                 18%  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.)

_____________________________________________________________

January, 2011 Seattle-Eastside real estate market compared to January, 2010:

  • The average  price of pending homes (recently sold homes) went from $525,462 to $495,080, a 6% decrease in pricing.
  • On 2-14-11, there were 10,530 King County homes (houses and condos) for sale.
  • The number of homes sold on Seattle’s Eastside: down 11% from last year.
  • Number of homes for sale on Seattle’s Eastside: The number of homes for sale in January, 2011 was 7% less than January, 2010.

Best odds of selling: East Bellevue/Redmond around Microsoft.

Worst odds of selling: Sammamish/Issaquah/North Bend/ Fall City.

Decline in home sales from last year: Three out of the 7 Seattle-eastside areas had fewer sales, South Bellevue, Kirkland, and Sammamish/Issaquah/North Bend/ Fall City.

What’s happening with real estate in your neighborhood?


Posted on February 15, 2011 at 10:23 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, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

How Many Real Estate Sales Were on Seattle's Eastside in Dec 2010 Compared to 2009?

[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]

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.

Redmond/East Bellevue

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.

South Bellevue/Issaquah

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.

Kirkland

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.

West Bellevue

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.



Posted on January 12, 2011 at 12:09 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, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

December, 2010, A Surprise in the Seattle Eastside Real Estate Market

How did Seattle’s eastside end its year in real estate? Surprising to some, there was a huge increase in the number of homes sold in some areas when compared to last year.  Pending sales for the year on the eastside were up by 10%. Only a few of the eastside neighborhoods had home sales which were down from last year.

Several theories were proposed in The Seattle Times wrap up on December real estate:

• The market finally has worked its way through the lull it fell into after the tax credits’ expiration.

• Buyers are climbing off the fence, even if they suspect prices will continue slipping, because they fear interest rates will rise and wipe out any savings.

• There may have been a push to get some long-languishing short sales — sales for less than sellers owe lenders — closed before year-end.

Is this a trend that will continue into the New Year?  It’s probably too early to say, but I’ll be watching over the next couple of months to see how 2011 real estate performs on the eastside.  Do you think this will be the start of a change in local area real estate?


Seattle Eastside Real Estate 2010 Statistics

Seattle Eastside Real Estate 2010 Snapshot

The odds of selling a home on the Eastside in November ranged from 12% to 20%, with an average 16% absorption rate.*  Most home sellers on Seattle’s eastside had a 16/100 chance 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.)

December, 2010      2499 homes for sale    397 homes sold             16% odds of selling.

November, 2010      2818 homes for sale    455 (was 485) homes sold       16%(was 17%)  odds of selling.*

December,  2009     2584 homes for sale   343 homes sold           13% 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.)

_____________________________________________________________

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

  • The average  price of pending homes (recently sold homes) went from $536,205 to $513,009.
  • On 12-27-10, there were 11,015 King County homes (houses and condos) for sale. There were approximately 4000 less homes for sale, 32% less, in King County now than in July.
  • The number of homes sold on Seattle’s Eastside: down .7% from last year. The sales were almost the same as December, 2009.
  • Number of homes for sale on Seattle’s Eastside: The number of homes for sale in December, 2010 was about 75 less than 2009.
  • If you look at 2010, in 9 out of 12 months, 400-500 homes sold each month.  But the number of homes for sale varied from July’s high of 3400+ to December’s low of 2499.

Best odds of selling: East Bellevue/Redmond areas around Microsoft.

Worst odds of selling: West Bellevue and downtown Redmond and Carnation.

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

Smallest increase in sales from last year: Downtown Redmond and Carnation.

Decline in home sales from last year: Two out of the 7 Seattle-eastside areas had fewer sales, West Bellevue and Sammamish/Issaquah/North Bend/ Fall City.

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: 2588 homes.

The number of eastside homes for sale in December, 2010: 2499 homes.


Posted on January 11, 2011 at 3:06 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , ,

How 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.

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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 , , , , , ,