April Showers Brought Lots of Real Estate Sales to Seattle’s Eastside

 

The Seattle eastside real estate market is still hot! Real estate sales’ numbers on Seattle’s Eastside are terrific.  April sales numbers were similar to March when 46% of the available homes sold.  In April, because there were about 100 more homes for sale, the odds of selling dropped slightly to 42% sold.  Home sellers in Bellevue, Kirkland, Redmond and other eastside cities have the best odds of selling a home since 2007! Much of this is due to the positive economy here in the Seattle area.

New listings are coming on the market and selling quickly. If no other homes were to come on the market, it would only take 1.4 months to sell all of the eastside homes.  Demand is high, helping the good homes that are well priced, show well, have fabulous photos, and great marketing to fall into the 42% of homes that sold last month. Some homes have sold for over full price with multiple offers.

Remember, 58% of the homes did not sell and, more than likely, are missing one of the necessary elements necessary for a quick, well priced sale.  The homes may need to have a better price tag or photos, staging or marketing.  It’s still competitive and buyers are savvy enough to identify those homes that are well priced.  Even though there aren’t a lot of homes for sale, there’s enough new listings coming on the market each month to guarantee a fresh supply of available homes.  With interest rates remaining low, some buyers still take time to make a buying decision.

We sold several homes last month in a matter of days, with multiple offers and for over full price. We worked with all of the sellers for a while before their homes actually came on the market.  One seller contacted us last summer so she would have the time to do everything  needed to get ready to sell without creating additional stress. Most of our sellers contact us a few months before going on the market.  It gives us enough time to get contractors in, if needed, to paint, re-carpet or refresh the landscaping.

How did this past April compare to April of 2011?  Truly, there’s not much of a comparison between this year and last, but here it is:

• 42% of the available homes sold this past April, 23% sold in April, 2011.
  
• Homes sold in 101 days, which is down from 105 days in April, 2011.
• Median pricing was down to $485,000 from $492,000.
• Homes sold within 94% of the original asking price.  Last year homes sold within 91% of the asking price.
• 23% more homes sold this year.

So if you plan to land in the 42% of homes that sell, not the 58% that did not, start the process by contacting your Realtor well ahead of time.