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This tells it like it is in the Seattle area real estate market. The entire region, with the exception of Vashon Island in yellow, is a sellers market, which is indicated by the color red. The top sales rate, not the most sales, once again goes to Redmond and East Bellevue near Microsoft. In March, 80% of the homes sold there, while 69% sold in April! The odds of selling a home were the lowest in other parts of Redmond and Carnation. But at 32%, the odds were still good. This is a testament to the positive economy in the Seattle area and on the eastside.
Microsoft is hiring and moving people around the country. We know this first hand as we’re working with three different buyers who are either moving into the Bellevue/Redmond area or moving out of state for Microsoft.
Multiple offers, a shortage of homes, a huge percentage of homes selling in a short amount of time. some price increases (although minimal) are happening all over the Seattle eastside real estate market. The Seattle Times recently published a very positive picture of the local real estate market.
The cities below are reported together to follow our MLS areas (multiple listing service) information.
1. Redmond/East Bellevue
The odds of selling a home were 69%!!!!!
Median sales price decreased from $430,000 to $428,000 (y-o-y)**
97 homes were for sale
A total of 67 homes sold
Days on the market: 70
2. South Bellevue/Issaquah
The odds of selling a home were 48%
Median price increased from $520,000 to $522,000
244 homes were for sale
A total of 118 homes sold
Days on market: 85
3. The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 44%
Median sales price increased from $467,000 to $472,000
There were 467 homes for sale
A total of 203 homes sold
Days on the market: 110
4. Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 42%
Median sales price increased from $383,000 to $385,000
397 homes were for sale
A total of 165 homes sold
Days on Market: 103
5. Kirkland
The odds of selling a home were 36%
Median sales price decreased from $550,000 to $430,000
132 homes were for sale
A total of 47 homes sold
Days on Market: 72
6. West Bellevue
The odds of selling a home were 34%.
Median sales price increased from $973,000 to $1,185,000
118 homes were for sale
A total of 40 homes sold
Days on Market: 107
7. Redmond/Education Hill/ Carnation
The odds of selling a home were 32%
Median sales price increased from $452,000 to $538,000!
219 homes were for sale
A total of 69 homes sold
Days on Market: 159
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%)
** (y-o-y) median pricing is comparing year over year numbers.
