Bellevue, WAFor HomeownersKing County, WAKirklandRedmond April 5, 2012

Animals in King County Need Your Help!

Calling all pet owners and animal lovers in King County. Pets in King County need your help. Several eastside cities, Bellevue, Kirkland, Newcastle, Redmond, and Mercer Island, are thinking of canceling the contract with King County for animal control services . Each of the above cities would be responsible for animal control issues within its city limits. If there’s an animal in Kirkland needing some assistance,  Kirkland would be responsible.  The problem is none of these cities is equipped to handle our lost, stolen, and stray pets.  The infrastructure is not there.  Plus, it would bring on added costs to our local cities in a time when cutbacks are needed.

There is another organization which is far better quipped than individual cities to take care of animals, the Humane Society. The Humane Society wants this job.   They already know how to do a terrific job in placing animals in homes.  They hold animals indefinitely in an effort to find them good homes.  They don’t kill dogs and cats, people’s pets.

I know this first hand.  This issue is a very personal one for me.  My dog Henry was adopted from the Humane Society.   He had been picked up and kept for six weeks in the hopes that someone would adopt him. When he was found on the street, he was infested with fleas.  The Humane Society shaved his butt in an effort to get rid of the fleas.  He was the true picture of “butt ugly.”  But, he was cured of his fleas, very adoptable and we got him!  If the Humane Society hadn’t taken care of his fleas and kept him alive, we never would have gotten him.

Henry was a fabulous dog. We only had him for 4 1/2 years because he was about 10 when we adopted him. Unfortunately, he had a myriad of health problems, starting with failing sight and hearing. The thing that got him, though, was congestive heart failure. He had 3 1/2 great years and one year in which he gradually lost his sight and got sick because of his heart. We loved having him all of the time he was with us.  We wouldn’t have traded him for anything.  He was sweet and loving, a true joy.

There are lots of other Henrys out there, so please support The Humane Society in their efforts to do a good job for the animals on the eastside. If you can help this cause for all eastside pets, please contact your City Council people.  Let them know you would like the Humane Society to take over the animal control services for the individual cities of the eastside.

Here’s a copy of the letter sent to us from David Loewe, the CEO of the Humane Society:

I am writing to share some exciting news that could improve the care of homeless, lost, stray and abandoned pets in Kirkland, and I would like your support.

As you probably know, many of the cities on the Eastside are contracting with King County, located in Kent, for the sheltering of stray animals. The contracts with King County are due to expire this year.

Seattle Humane Society has been approached by concerned citizens and Eastside city officials about our interest and ability to provide sheltering services, because the county contract is so expensive.

I’m confident that Seattle Humane Society is in a strong position to help and can provide better care for the animals, lower cost to taxpayers, and better service to the public. Please support us, by letting your city officials know that we are the best agency to provide these services.

As a donor-supported charity, we’ve provided shelter services to animals in our community for more than 115 years. Our medical and foster care for pets is among the best in the nation, resulting in an animal shelter save rate that is among the highest in the nation at 96 percent.

The cities interested in our services – Bellevue, Redmond, Kirkland, Mercer Island and Newcastle – are in our own backyard. In truth, many animals from these cities are brought to us already.  If Seattle Humane Society receives the sheltering contract, cities will pay less for services, and there is an increased chance that a pet owner will be united with their lost companion.  If Seattle Humane Society holds the sheltering contract, and you lose your pet on the Eastside, you can find your pet on the Eastside – at our shelter in Bellevue.

As additional background, I’ve attached a copy here of the letter that I presented to the Bellevue City Council in their study session on Monday, March 26th.

How can you help?

As a Seattle Humane Society supporter and an animal lover, we hope you will write to your city officials and let them know that contracting with Seattle Humane Society is a “win-win” for the animals, for their owners, for the cities and for Seattle Humane Society.

Click here for a list of council members in your city. Click here to view a proposed message you can send by mail, email, or a phone call. If you would like further details on the plan, please contact me by phone at 425-649-7556 or by email atDavid@seattlehumane.org.

Thank you for making your voices heard for the animals!

Here’s how you can help/ Send a letter to your City Council in support of The Humane Society.

Contact the Bellevue City Council at council@bellevuewa.gov.

Kirkland: citycouncil@kirklandwa.gov

Redmond: mayor@redmond.gov

Mercer Island

Newcastle

Bellevue Real EstateBellevue, WAEastside Real EstateFor BuyersFor SellersIssaquah, WAKing County, WAKirklandReal EstateRedmondSammamish, WASeattleWoodinville, WA March 30, 2012

Negative Headlines for Seattle Real Estate?

 
I thought we were finally past the negative headlines in Seattle real estate, but apparently not. Both The Seattle Times and the PI had articles about the decline in prices. The articles take a look at the latest Case-Shiller Index for January, 2012, which shows closings for December of 2011.  The offers for the homes sold in December, 2011 were written a couple of months earlier than December, so the latest Case-Shiller report examines data that is 3-5 months old. The focus in these articles is the decline in real estate prices.  There was a small decline in Seattle area real estate prices from January, 2011  to January, 2012.

Is this an accurate picture of today’s local real estate?

Besides the fact that the Case-Shiller report is examining older data, we have to remember to look at pricing over a 3-6 month period to see a real trend and in a very local real estate market.  When you examine trends in a more localized area, you see true numbers.  The numbers that affect you.  Case-Shiller examines 20 metropolitan areas, including the Seattle area.  However, this includes not only Seattle, but the surrounding counties:  Snohomish, Pierce, and King.  The  counties are very different real estate animals. Aubrey Cohen said in the PI:

Pierce and Snohomish counties are weaker than King County, dragging down statistics for the metro area.

Within counties, real estate markets are different.  In King County, the south is very different from the east. In East King County, in such cities such as Bellevue and Redmond or Sammamish, there are differences.  Looking at the Seattle and the surrounding counties does not give the true picture of what is happening in Kirkland, Woodinville or Duvall.  Case-Shiller does not tell the local story , the local real estate story that affects you and your home.

What’s really happening with real estate on Seattle’s eastside?

As March comes to a close, we’re in a “hot” market in Seattle and on the eastside in Bellevue, Redmond, Kirkland, and Issaquah. etc.  This week in all of King County, there are 6,802 properties for sale.  Last year at this time, 10,772 properties were for sale.  The eastside is a reflection of these numbers.  There is a small supply of available properties.  Every day the NWMLS, Northwest Multiple Listing Service, tallies up the number of new listings and sales.  On most days, pending sales outpace new listings by about one-third. Many homes are receiving multiple offers, which means their prices are, more often than,  not remaining stable.  There’s too much demand for housing and not enough houses for sale.

The reality is prices will not go up by much, but they also will not go down on the eastside in most areas with this lack of supply and high demand for homes.  Let’s not go back to the past. Let’s focus on the present as much as we can.  The Eastside real estate market is hot!

That should be the headline for today’s real estate news.

For BuyersFor HomeownersFor SellersReal Estate March 27, 2012

Sellers, Do you Have Carbon Monoxide Detectors in Your Home? It’s the Law In WA State

 

Last year I heard that a college friend of mine had died in his home from carbon monoxide poisoning. A few years back, a Realtor walked into a home to preview it and found the sellers dead in their bed, again from carbon monoxide poisoning.  Both situations were upsetting and shocking to me.  It was sad to hear of an old friend’s untimely loss.  I can only imagine the horror of the real estate agent who found those unfortunate sellers.

These situations are so sad and unnecessary.  They did not have to happen.

Here in Washington, the State is doing something about this. The State  has passed a new law which goes into affect on April 1, 2012 requiring carbon monoxide detectors in specific places in homes as a condition of sale.  Below is wording from the specific law that will affect sellers and buyers when a real estate sale is transacted.

Even if you are not selling your home, it’s a smart idea to install the same carbon monoxide detectors.  It’s a pretty inexpensive way to help eliminate an untimely death, which could be yours!

 

 

CARBON MONOXIDE ALARMS 

By Northwest Multiple Listing Service

This bulletin summarizes new “point of sale” requirements related to the installation of carbon monoxide alarms:

When is a seller required to install a carbon monoxide alarm?

Effective April 1, 2012, RCW 19.27.530 requires the seller of any owner-occupied single-family residence to equip the residence with carbon monoxide alarms in accordance with the state building code before a buyer or any other person may legally occupy the residence following the sale. 1 This requirement applies to all single family residences, including single family homes, condominiums, and manufactured/mobile homes.

The building code (WAC 51-51-0315) requires that an alarm be installed: (1) outside of each separate sleeping area in the immediate vicinity of each bedroom; (2) on each level of the dwelling; and (3) in accordance with the manufacturer’s recommendations. The building code also requires that single station carbon monoxide alarms comply with UL 2034. 2 There are no exceptions for properties that do not have fuel-fired appliances or an attached garage. The alarms may be battery operated and can be purchased for as little as $25 from a variety of sources.

The building code also requires that single station carbon monoxide alarms comply with UL 2034. There are no exceptions for properties that do not have fuel-fired appliances or an attached garage. The alarms may be battery operated and can be purchased for as little as $25 from a variety of sources.

Do you have more questions about carbon monoxide poisoning or what to look for in a detector?

The UL  site has more detailed information regarding carbon monoxide detectors. It also makes a lot of sense to check for these things in your home to help prevent any possible leaks:

  • How can I tell if there is a risk of CO poisoning in my home?

    Have your fuel-burning appliances inspected by a qualified technician at least once a year. A qualified technician should have practical knowledge of the operation, installation and proper ventilation of fossil-fuel-burning devices; carry the applicable insurance; be bonded; and be licensed to perform heating, ventilation and air conditioning (HVAC) work in your area.

    Be alert to these danger signs that indicate a potential CO problem:

    • Streaks of carbon or soot around the service door of your fuel-burning appliances
    • The absence of a draft in your chimney (indicating blockage)
    • Excessive rusting on flue pipes or appliance jackets
    • Moisture collecting on windows and walls of furnace rooms
    • Fallen soot from the fireplace
    • Small amounts of water leaking from the base of the chimney, vent or flue pipe
    • Damaged or discolored bricks atop the chimney
    • Rust on the portion of the vent pipe visible from outside your home

    Also, recognize that CO poisoning may be the cause when family members suffer from flu-like symptoms that do not disappear but improve when they leave home for extended periods of time.

Bellevue, WAEastside Real EstateFor BuyersFor HomeownersFor SellersIssaquah, WAKing County Real EstateMarket StatisticsReal EstateRedmondSammamish, WASeattleWoodinville, WA March 23, 2012

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%)

** (y-o-y)  median pricing is comparing year over year numbers.

Eastside Real EstateFor BuyersFor HomeownersFor SellersMarket StatisticsReal Estate March 22, 2012

The Seattle Eastside Condo Market Was Great in February, 2012

 


 
If you have a condo to sell on Seattle’s eastside, now is a great time to put it on the market. If you’ve hoped to move and have felt as if you couldn’t do so over the last few years, things are different now.  Competition among sellers has dropped dramatically, because there are so few condos for sale.  There were only 723 condos for sale in all the eastside cities of Bellevue, Redmond, Kirkland, Woodinville, Issaquah, etc.  Just a few years ago, there were twice as many condos for sale.
 
Prices are not going to go back up any time and, more than likely, will no longer continue to drop.  If your condo is underwater and/or you can’t or don’t want to sell because you’re taking a huge loss, that’s unfortunate.  But for those who have contemplated a move up or out of the area, this is the best time to put your condo on the market in the last 5 years.
 
If you’re a buyer, condos haven’t been this affordable for about 6-7 years, so it’s a great time to buy.  Most real estate gurus and economists think we’re at the bottom of the market.  The situation varies dramatically in different parts of the country.  Seattle is one of the bright spots in the economy, so our market is doing well. If you’re waiting for prices to go down even more, it doesn’t sound like that will happen, particularly in the Seattle area.  We’ve been hit over the head with this fact since so many of the condos and homes are now selling with multiple offers.  As soon as that happens, we know we were at bottom.
 
Last month, 25% of all the condos on the market sold.  Condos sold, on average, within 89% of the original asking price.

Bellevue, WAEastside Real EstateFor HomeownersFor SellersKirklandMarket StatisticsReal EstateRedmondSeattle March 20, 2012

Multiple Offers for Seattle Eastside Homes in February 2012!

 
The Seattle-eastside real estate market was hot in February. Buyers were lining up and multiple offers were often the norm.  Multiple offers? Yes, multiple offers.

 

When I check listings each day, I notice there are many homes that sell within a matter of days. Most days when I check listings, I’ve noticed they’re fewer new listings than sales.  Just the other day there were 49 new listings on the eastside and 69 sales. More homes are selling than are coming on the market.

 

The supply of buyers outweighs the supply of homes right now, which results in multiple offers for a home. This was common before the market crash and is now becoming a common phenomenon again here in the eastside cities of Bellevue, Kirkland, Redmond.
 

What happened to the supply of homes on the eastside?
In the eastside cities of Bellevue, Kirkland and Redmond, etc, sellers who are able to hang on to their homes and choose not to sell are waiting, particularly if they paid more for their homes.  The shadow inventory of foreclosures, is still a shadow at this point.  There are foreclosures, but the eastside real estate market is not glutted with them.
 
This February there were 734 fewer homes, about 31% less, for sale on the eastside than last year.  With almost 1/3 fewer homes on the market, it’s no big surprise that multiple offers are happening.  Not only are fewer homes on the market, but more are selling than last year.  Almost 100 more homes sold this February than last.
 

As I mentioned last month, it’s surprising to see fewer homes on the market than in January. Usually the number of homes for sale follows the same trend that we see in the chart for 2011.  As most years progress, there are more homes for sale each month, with the number peaking sometime in the summer. This year we’ve not seen this pattern.  It’s pretty unusual at this time of year to see the number of homes for sale actually be a lower number than the previous month.  This week the number of homes for sale in all of King County dipped below 7000.  We started the year with about 7500 homes for sale, so homes are selling at a pretty fast clip.

 

Does this mean that home prices are going up? Even with multiple offers, not all of the homes are selling for full price.  There are some homes, though, that are in demand, are truly special or are priced incredibly well which can and do sell for more than full price.  Prices on the eastside are actually down about 2% from last year.

 

The wrap up February, 2012 Seattle-eastside real estate:

  • 31% fewer homes were on the market in February this year than in 2011.
  • The average time a home took to sell was 118 days.
  • Sales prices on average were  8% below the seller’s original asking price.
  • 34%  percent of the homes for sale this January received offers and sold.

 
What’s happening in your neighborhood?  Is the real estate market off to a better start this year?

*The numbers are a result of the real estate sales activity that happened that particular month only.  In order to see a trend, it is important to look at a number of months together.  One month is only indicative of that particular month’s sales.

Stayed tuned to see if this hot real estate market continues.

 

Bellevue, WAFor BuyersFor HomeownersFor SellersKirklandMake More Money Selling Your HomeReal EstateRedmondRemodeling and style trends March 8, 2012

The Top Ten Remodeling Mistakes for Seattle Eastside Homes

 
There are a million stories in Seattle about great remodeling projects that increase the livability and value of a home.  I’ve written a few myself over the years.
 
Rarely does anyone write about what you should NOT do when remodeling a home. One caveat here, what plays in Peoria does not necessarily play in Seattle, Bellevue or Redmond.  Every area of the country has different styles, so remodeling trends will vary according to the region of the country.  So if you live in the eastern suburbs of Seattle, such as Bellevue, Redmond and Kirkland, this post is for you!
 
This post was inspired by an email  I received from George Rinehart of Rinehart Inspections. We’ve added to his list because of some remodeling mistakes we’ve seen in homes over the years.  Unfortunately, we’ve had to tell some sellers their homes may be worth less because of a remodeling mistake.
 
Here are the top ten remodeling mistakes:
 

  • Eliminating the garage.
  • Eliminating one bay or a 1/2 bay of a two car garage.
  • Adding a sunroom.
  • Taking out all the grass in your yard.
  • Taking down a fence that encloses the backyard.
  • Reducing the number of bedrooms by enlarging one or turning one into a closet.
  • Installing different color carpets throughout the house.
  • Eliminating windows.
  • Taking out a bathroom to increase another room’s size.
  • Eliminating a laundry room and moving it to the garage.

 

The elimination of a garage to increase living space is a perfect example of a remodeling mistake.  Not having a garage can easily be a $25,000-$30,000 reduction in the asking price for a home.   Even with the price reduction, many buyers won’t even look at a home without a garage.  Not having the garage keeps many buyers from walking through the front door. A laundry room is another thing most people want, so to eliminate one to increase space for something else is usually not a good idea.
 
Ultimately, every home is salable for a price, but some of the changes listed can be expensive, not only for the cost to do the remodel, but also in market time and the ultimate sales price for a home.  Many of the above changes may work for you as an individual or family, but not for the next home owner.
 
There are other costly remodeling mistakes.   Can you think of any others that could “cost” a home owner dollars when selling their home?

Eastside Real EstateFor BuyersReal Estate February 29, 2012

How Was The Seattle Eastside Condo Market in January 2012?

 

The Seattle-Eastside condo real estate market in the cities of Bellevue, Kirkland, Redmond, etc was even better in January than December of last year. This is not terribly surprising.  When the calendar rolls around to a new year, buyers minds turn to real estate and home buying.
 
The number of condos for sale on the eastside was almost the same as in December.  However, 31 more condos sold in January than in December. Interestingly,  there were 247 new listings, but with the number of sales happening and other condos coming off the market, the supply has remained static.  The demand has been far greater.  The well priced and well maintained condos are selling as fast as they are coming up on the market.
 
Ironically, 20% fewer condos were on the market in January than a year ago.
 
As I’ve mentioned before, expect this year’s condo real estate market to be the strongest we’ve had for sales in 5 years.  In January, 20% of the available condos sold which is equal to the highest percentage of sales in July of last year.  Condos were on the market an average of 133 days and sold within 89% of their original asking price. Surprisingly, the median price dropped from $235,000 last year to $168,000 this year.   
I truly think this only represents the fact that the majority of condos that sold in January happened to be less expensive than those that sold last January.  I don’t think prices have dropped that much.  I look forward to seeing the price point for condo sales when we have February’s statistics available.  So don’t give up hope just yet.  Prices are down for everyone, whether it’s a house or condo, but it may not be as bad as January’s median pricing suggests.
 
As we’ve mentioned before, expect this year’s condo real estate market to be the strongest we’ve had for sales in 5 years. The lack of supply should help to spur the market on.  Happy condo hunting!

Eastside Real EstateFor SellersKing County, WAReal Estate February 29, 2012

How Was The Seattle Eastside Real Estate Market in January, 2012?

 


 

 

Real estate on Seattle’s eastside had a great start to 2012.   Pending sales were up by 38% and there were 26.5% fewer homes on the market this year than in January, 2011! This is a recipe for a positive real estate market here in the cities of Bellevue, Kirkland,  Redmond, Issaquah, Sammamish and Woodinville.    In January, 2011 there were over 2300 homes for sale, in July 2011 there were  2879 homes for sale, and this past January there were just 1757 available homes!  There were 1000 fewer homes for sale in January, 2012 than in July of 2011.  That’s a huge difference.  In the first 7 weeks of 2012, the number hasn’t change much, remaining fairly stable.  Usually by the this time of the year, we’ve seen a jump in the number of homes for sale.

 
We expect this year to be a fast paced market for the homes that are priced well and show well.  We can already see the increase in activity with one of our listings.  We recently listed a home and 20 different groups came to the open house.  This means there are lots of buyers out there actively looking for a home.

 
I also think most people feel like the worst is behind us and it is safe to go out again and buy a home.  NPR had a piece with positive economic news on several fronts. Housing starts are up and unemployment is down.

 
The wrap up for January, 2012 Seattle-eastside real estate:

  • 26% fewer homes were on the market in January this year than in 2011.
  • The average time a home took to sell was 105 days.
  • Sales prices on average were just 9% below the seller’s original asking price.
  • 26.5%  percent of the homes for sale this January received offers and sold.

 
As in December, the actual number of homes sold did not change  much.  Last year 420 homes sold.  This year 453 sold.  The difference?  There was much more competition last year because there were 634 more homes on the market!  The lack of supply definitely contributes to a faster market.

 
What’s happening in your neighborhood?  Is the real estate market off to a better start this year?

*The numbers are a result of the real estate sales activity that happened that particular month only.  In order to see a trend, it is important to look at a number of months together.  One month is only indicative of that particular month’s sales.

 

Bellevue Real EstateBellevue, WAEastside Real EstateFor BuyersFor SellersIssaquah Real EstateIssaquah, WAMarket StatisticsReal EstateRedmondSammamish, WASammamish, WA Real EstateWoodinville, WAWoodinville, WA Real Estate February 29, 2012

How Was The Real Estate Market In Bellevue, Kirkland, Redmond, and Other Eastside Cities At The Start of 2012?

 

What a difference a month makes!  The January Real Estate Map shows a “Seller’s Advantage” in our market!

There’s a lot of  “red” on the above Seattle area real estate map!  There’s more “red” than we’ve seen in years, and I mean years.  What does the “red” mean?  It means it’s a seller’s market. The homes that are in the “red” areas sell in less than 3 months on average.  In January, most of the eastside was a seller’s market.  Mercer Island, West Bellevue, and Kirkland did not quite reach the threshold of a seller’s market, but Kirkland was almost there.  The real estate markets in these areas were more evenly balanced between the buyers and sellers as homes sold on average within 3-6 months.

This real estate market is pretty exciting to see after the tough markets of the last few  years.  But what this really means is that we have a more normal market on Seattle’s eastside. The good homes that are priced right and show well are the homes that are selling quickly and bringing the average market time down.  There are and still will be homes that aren’t priced well or don’t show well which will sit on the market and take longer to sell.

The chance of a home selling in the different eastside cities ranged from 15-30%. West Bellevue had the fewest sales when compared to the number of available homes, while the plateau cities of Sammamish, North Bend, and Fall City saw almost a third of the homes sell in one month!

The Seattle Times talked about the drop in median prices, but was careful to point out that data varies from city to city and neighborhood to neighborhood.

But King County is a big place, and the real-estate market isn’t the same in SeaTac as it is in Sammamish.
A closer look at the statistics reveals significant variations from neighborhood to neighborhood.

It’s good to see the Times recognizing the neighborhood differences, since too many times the media publishes data, which covers too broad an area.  This does not give an accurate picture of the real estate data.

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 January, 2012?


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

The odds of selling a home were 30%

Median sales price decreased from $496,000 to $465,000  (y-o-y)**

There were 469 homes for sale

A total of 86 homes sold

Days on the market: 123

 

2.  South Bellevue/Issaquah

The odds of selling a home were 28%

Median price decreased from $575,000 to $484,000

226 homes were for sale

A total of 35 homes sold

Days on market: 90

 

3. Kirkland

The odds of selling a home were 27%

Median sales price decreased from $534,000 to $522,000

155 homes were for sale

A total of 34 homes sold

Days on Market:  62

 

4. Redmond/East Bellevue

The odds of selling a home were 26%

Median sales price increased from $380,000 to $460,000

125 homes were for sale

A total of 32 homes sold

Days on the market: 94

 

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

The odds of selling a home were 25%

Median sales price decreased from $390,000 to $344,000

387 homes were for sale

A total of 64 homes sold

Days on Market: 115

 

6.  Redmond/Education Hill/ Carnation

The odds of selling a home were 21%

Median sales price decreased from $522,000 to $483,000

193 homes were for sale

A total of 30 homes sold

Days on Market: 112

 

5. West Bellevue

The odds of selling a home were 15%.

Median sales price increased from $650,000 to $1,230,000

118 homes were for sale

A total of 18 homes sold

Days on Market: 86

 

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.