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 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.
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.
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.