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Seattle-eastside real estate sales results were so similar during June, July, and August I could have posted the same report with just a few exceptions each month! Overall, 23% of the available homes sold in August, the same as June and July!
[googlemaps http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Eastside+of+Seattle&aq=&sll=47.610377,-122.200679&sspn=0.123598,0.359459&vpsrc=0&g=Bellevue,+WA&ie=UTF8&hq=Eastside+of&hnear=Seattle,+King,+Washington&t=m&ll=47.615847,-122.302272&spn=0.338201,0.11521&output=embed&w=425&h=350]
The only significant change happened in West Bellevue and East Bellevue and the Microsoft area around Redmond. Both these areas had fewer home sales in August than in July. It was most noticeable in the neighborhoods around Microsoft where sales have been consistently strong. In July, 38% of the homes sold and in August the sales numbers dropped back to 24%. The area still had the best return on the eastside, but it was more in line with other eastside neighborhoods.
There’s a good real estate market out there. The last time we saw a similar real estate market was back in the years between 1998-2002. The market during those years was what we considered to be a “normal” market, not a crazy market. Once again, we see a more “normal” market today.
How many homes sold in August, 2011 in your neighborhood?
(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 21%.
Median sales price dropped: $479,895 to $475,000.
There were 725 homes for sale.
A total of 174 homes sold.
Redmond/East Bellevue
The odds of selling a home were 24%.
Median sales price decreased from $494,900 to $479,950.
207 homes were for sale
A total of 60 homes sold.
South Bellevue/Issaquah
The odds of selling a home were 22%.
Median price decreased from $550,000 to $512,225
367 homes were for sale.
A total of 94 homes sold.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 23%.
Median price was down from $415,000 to $381,650.
589 homes were for sale.
A total of 148 homes sold.
Kirkland
The odds of selling a home was 22%.
Median price decreased from $641,000 to $595,000.
280 homes were for sale.
A total of 73 homes sold.
West Bellevue
The odds of selling a home were 17%.
Median pricing decreased from $869,000 to $754,500.
169 homes were for sale.
A total of 40 homes sold.
Redmond/Education Hill/ Carnation
The odds of selling a home were 21%
Median pricing decreased from $549,950 to $534,900.
319 homes were for sale.
A total of 79 homes sold.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
