How did January, 2009 stack up to January, 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 21%.
Median sales price dropped from $535,000 to $499,000.
The number of homes for sale dropped by 24% and sales were up by 60% from last year.
The odds of selling a home were 28%.
Median sales price dropped from $480,000 to $450,000.
The number of homes for sale dropped by 22% and sales were up by 103%.
The odds of selling a home were 27%.
Median price stayed the same at $559,000.
The number of homes for sale dropped by 27% and sales were up 84%.
The odds of selling a home were 18.5%.
Median price decreased to $389,725 from $438,200.
The number of homes for sale declined by 21% and sales were up by 63%.
The odds of selling a home were 23%.
Median price dropped from $512,440 to $499,950.
The number of homes for sale declined by 21% and sales were up by 90.5%.
The odds of selling a home were 12%.
Median pricing was down from $1,027,500 to $899,000.
The number of homes for sale decreased by 32.5% and sales increased by 35%.
Redmond/Education Hill/ Carnation
The odds of selling a home were 21%
Median pricing increased to $524,990 from $484,950.
The number of homes for sale decreased by 21.5% and sales increased by 73%.
Median home prices in January, 2010 increased only in one Seattle-Eastside area, Redmond, when comparing 1-09 to 1-10. If you look at the full year, prices in that area did not increase. South Bellevue and Issaquah home prices remained steady when compared January, 2009.
All other eastside areas showed a decline in pricing. The most significant decrease was in West Bellevue, where median home values dropped by almost a third. Sales in West Bellevue continued to increase from last year, although the increase was lower than what was seen in December, ’09.
Redmond, near Microsoft, and East Bellevue are booming with home sales once again, after a couple of slow months. But again, the statistics do not show prices up in this area, although home sales certainly are up!
With the extension of the home buyer tax credit, smaller numbers of homes for sale, low interest rates, real estate activity should be brisk in the first part of the year. For these reasons, if you want to sell your home and move in 2010, do it now, rather than later in 2010.