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%.
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.