A Booming Real Estate Market in Kirkland, Bellevue, Redmond And Other Eastside Cities in February, 2012

The February Real Estate Map shows a strong sellers market.

Multiple offers, low supply of homes, a huge percentage of homes selling in a short amount of time, all are happening in the eastside communities of Bellevue, Redmond, Kirkland, Issaquah, Woodinville, and Bothell. This is an exciting trend that we expect will continue as long as people feel good about the economy, Seattle companies are hiring and there is this shortage of homes for sale. The national press is jumping on the bandwagon and reporting the uptick in the real estate market. However, I believe this is not happening everywhere. We are among the fortunate areas in the country that are experiencing this positive real estate market.

Almost half of all the homes for sale in Kirkland and Redmond sold this past month! That’s astonishing odds. The cities below are grouped together to follow our MLS areas (multiple listing service). This is how our statistics are reported.

How was real estate market in your Seattle-Eastside city in February, 2012?

1. Redmond/East Bellevue

The odds of selling a home were 49%

Median sales price decreased from $435,000 to $400,000 (y-o-y)**

113 homes were for sale

A total of 35 homes sold

Days on the market: 84

2. Kirkland

The odds of selling a home were 48%

Median sales price decreased from $457,000 to $442,000

140 homes were for sale

A total of 38 homes sold

Days on Market: 98

3. The plateau: Sammamish, Issaquah, North Bend, and Fall City

The odds of selling a home were 40%

Median sales price decreased from $514,000 to $442,000

There were 428 homes for sale

A total of 100 homes sold

Days on the market: 121

4. South Bellevue/Issaquah

The odds of selling a home were 33%

Median price decreased from $580,000 to $525,000

239 homes were for sale

A total of 43 homes sold

Days on market: 118

5. Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 32%

Median sales price decreased from $366,000 to $360,000

368 homes were for sale

A total of 105 homes sold

Days on Market: 115

6. West Bellevue

The odds of selling a home were 20%.

Median sales price increased from $840,000 to $960,000

123 homes were for sale

A total of 15 homes sold

Days on Market: 133

7. Redmond/Education Hill/ Carnation

The odds of selling a home were 4%

Median sales price increased from $382,000 to $515,000

205 homes were for sale

A total of 29 homes sold

Days on Market: 152

If you’d like more specific information about your neighborhood or home, feel free to contact either Brooks or me.

*(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%)