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How many homes sold in June, 2011 in your neighborhood?
June continued to be a strong month for real estate sales on Seattle’ eastside. In fact, June may have been the strongest month for real estate sales on Seattle’s eastside in four years. The Puget Sound Business Journal stated more homes sold this month than in recent months. Every area did far better than previous months and previous years. The Redmond and Bellevue area around Microsoft led the pack with almost 40% of the homes selling. Almost every other area had a minimum of 20% of the homes selling. More homes are selling than we’ve seen in years, but there are still a lot of homes that are languishing on the market. Know your competition, so your home will land in the 20%+ homes that are selling.
A past client of mine is moving back to the eastside after about 5 years. He was really surprised to hear that the homes near Microsoft are actually more affordable than those in South Bellevue. The Bellevue Schools are getting a lot of press because several of the high schools are landing on top 100 lists of the top high schools. But in reality, parts of Bellevue have been more expensive for years because of the easy I-90 access to Seattle. This may explain why the area around Microsoft is usually the hottest real estate market. It’s a great location, close to jobs, has good schools, and slightly more affordable housing prices.
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 23%.
Median sales price dropped: $525,000 to $494,950.
There were 765 homes for sale.
A total of 190 homes sold.
Redmond/East Bellevue
The odds of selling a home were 38%.
Median sales price decreased to $449,900 from $482,500.
193 homes were for sale
A total of 79 homes sold.
South Bellevue/Issaquah
The odds of selling a home were 21%.
Median price decreased from $599,994 to $519,000
364 homes were for sale.
A total of 91 homes sold.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 23%.
Median price was down from $419,973 to $369,950.
572 homes were for sale.
A total of 147 homes sold.
The odds of selling a home was 19.5%.
Median price decreased from $624,950 to $535,000.
286 homes were for sale.
A total of 71 homes sold.
West Bellevue
The odds of selling a home were 20%.
Median pricing decreased from $890,000 to $719,950.
181 homes were for sale.
A total of 43 homes sold.
Redmond/Education Hill/ Carnation
The odds of selling a home were 20.5%
Median pricing increased from $474,950 to $549,900.
331 homes were for sale.
A total of 77 homes sold.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
