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How many homes sold in April, 2011 in your neighborhood?
The increasing number of home sales on Seattle’s eastside continues, despite what the news media is saying. Every month of this year has had a big increase in the number of home sales over the previous month. It would be great if our news reporting could be more balanced. Our real estate market is more balanced, so let’s hope the media figures it out! One local news source did peg the market fairly well.
Right now, Seattle’s eastside has the most “normal” real estate market that we’ve seen in years. A “normal” market means everything is happening from homes selling the minute they hit the market to homes taking months to sell and at reduced prices. The “hot” homes are selling. “Hot” homes are great values with a good price tag, are staged and ready to go. The homes that are not “hot” are taking a long time to sell and go through several price reductions before getting an offer.
The other issue working in favor of a more positive real estate market is that in every area on the eastside, except Sammamish, there are fewer homes on the market. Less supply=more demand.
(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 dropped: $514,950 to $499,900.
There were 701 homes for sale.
A total of 161 homes sold.
The odds of selling a home were 32%.
Median sales price decreased by 11% to $400,000 from $450,000.
176 homes were for sale
A total of 59 homes sold.
The odds of selling a home were 24%.
Median price decreased from $599,900 to $568,800.
322 homes were for sale.
A total of 91 homes sold.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 26%.
Median price was down from $409,500 to $397,000.
559 homes were for sale.
A total of 160 homes sold.
The odds of selling a home were 30%.
Median price decreased from $575,000 to $538,500Z .
282 homes were for sale.
A total of 94 homes sold.
The odds of selling a home were 22%.
Median pricing was down from $849,000 to $649,995.
170 homes were for sale.
A total of 45 homes sold.
Redmond/Education Hill/ Carnation
The odds of selling a home were 23%
Median pricing decreased from $514,995 to $462,475.
299 homes were for sale.
A total of 80 homes sold.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
