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How Many Homes Sold in Your Seattle Eastside Neighborhood in April, 2011?
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How many homes sold in April, 2011 in your neighborhood?
The increasing number of home sales on Seattle’s eastside continues, despite what the news media is saying. Every month of this year has had a big increase in the number of home sales over the previous month. It would be great if our news reporting could be more balanced. Our real estate market is more balanced, so let’s hope the media figures it out! One local news source did peg the market fairly well.
Right now, Seattle’s eastside has the most “normal” real estate market that we’ve seen in years. A “normal” market means everything is happening from homes selling the minute they hit the market to homes taking months to sell and at reduced prices. The “hot” homes are selling. “Hot” homes are great values with a good price tag, are staged and ready to go. The homes that are not “hot” are taking a long time to sell and go through several price reductions before getting an offer.
The other issue working in favor of a more positive real estate market is that in every area on the eastside, except Sammamish, there are fewer homes on the market. Less supply=more demand.
(Click on the cities below to see real estate trends for the past 5 years. You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. 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 20%.
Median sales price dropped: $514,950 to $499,900.
There were 701 homes for sale.
A total of 161 homes sold.
The odds of selling a home were 32%.
Median sales price decreased by 11% to $400,000 from $450,000.
176 homes were for sale
A total of 59 homes sold.
The odds of selling a home were 24%.
Median price decreased from $599,900 to $568,800.
322 homes were for sale.
A total of 91 homes sold.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 26%.
Median price was down from $409,500 to $397,000.
559 homes were for sale.
A total of 160 homes sold.
The odds of selling a home were 30%.
Median price decreased from $575,000 to $538,500Z .
282 homes were for sale.
A total of 94 homes sold.
The odds of selling a home were 22%.
Median pricing was down from $849,000 to $649,995.
170 homes were for sale.
A total of 45 homes sold.
Redmond/Education Hill/ Carnation
The odds of selling a home were 23%
Median pricing decreased from $514,995 to $462,475.
299 homes were for sale.
A total of 80 homes sold.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
The Positive Real Estate Market on Seattle's Eastside Continued in April, 2011
Seattle Eastside Real Estate Sales Through April, 2011
Seattle-eastside real estate is looking good! The trend continues to be the most positive in the last four years. This positive market means this a good, but very realistic market. Some homes are selling within a week, others take longer, and some do not sell. In reality, it’s a balanced market in which the homes that sell quickly do so because of price and/or condition.
The usual spring spike in the number of homes for sale has also not happened so far this year. Last year in April there almost 450 more homes for sale on Seattle’s eastside than this past April.
In April 2011, there were 2634 homes for sale and 654 had offers. The number 464 in the last column on the chart shows how many homes sold and closed in April. In order for these sales to close in April, the offers would been accepted in February or March with an April closing date.
The absorption rate, the number of homes that sold during a particular month when compared to the number for sale, was 25%. One-fourth of the Seattle eastside homes for sale sold in April.
Are you seeing less “for sale” signs in your neighborhood? What about “sold” signs?
How Many Real Estate Sales Were in Your Seattle-Eastside Neighborhood in March, 2011?
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How many homes sold in March, 2011 in your neighborhood?
The number of home sales for the eastside took a huge jump over last month’s total. Each month of 2011 has seen a big increase in sales.
Are the sales stronger than March of 2010? No, they’re not. But remember, in March, 2010, buyers were scrambling to buy to get the tax credit. This March, buyers are out buying because they’re ready to buy, not because a tax credit is dangling in front of them. It’s been great to see the amount of activity in each neighborhood on the eastside. In reality, it’s the hot homes that are selling. “Hot” homes are great values with a good price tag and are staged and ready to go. The homes that are not “hot” are taking a long time to sell and go through a lot of price reductions before getting an offer.
(Click on the cities below to see real estate trends for the past 5 years. You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. 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 23%.
Median sales price dropped: $497,500 to $466,500.
There were 637 homes for sale.
A total of 160 homes sold.
The odds of selling a home were 29%.
Median sales price increased by .5% to $467,250 from $464,995.
166 homes were for sale
A total of 64 homes sold.
The odds of selling a home were 32.5%.
Median price increased from $539,450 to $571,470.
281 homes were for sale.
A total of 100 homes sold.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 27%.
Median price was down from $396,725 to $359,900.
556 homes were for sale.
A total of 175 homes sold.
The odds of selling a home were 25%.
Median price increased to $559,000 from $515,000, an 8.5% increase.
278 homes were for sale.
A total of 84 homes sold.
The odds of selling a home were 25%.
Median pricing was down from $921,500 to $780,000.
169 homes were for sale.
A total of 46 homes sold.
Redmond/Education Hill/ Carnation
The odds of selling a home were 24%
Median pricing decreased from $529,450 to $461,950.
287 homes were for sale.
A total of 86 homes sold.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
How Many Real Estate Sales Were On Seattle's Eastside in March, 2011?
Seattle Eastside Real Estate Sales Through March 2011
I see a trend happening in eastside real estate. The Seattle Times was wondering if there was a trend being established in Seattle area real estate. It’s happening on the eastside. This trend started in December of last year. Since that time, the number of homes selling each month has increased. Home sales have almost doubled from December’s 351 sales to March’s 657 sales. That’s a huge increase, a 47% increase in real estate sales! It sure sounds like an upward trend to me.
Match this news with the fact that the number of eastside homes for sale has only increased by 150 homes since December and there’s a good real estate market on the eastside. Last year, there almost 440 more homes for sale in March.
In March 2011, there were 2540 homes for sale and 657 had offers. The number 452 in the last column on the chart shows how many homes sold and closed that month. In order for these sales to close in March, the offers would have happened in January or February.
So far this year, we haven’t seen the number of homes for sale jump up by much. But if many more homes come on the market, the upward trend in home sales could slow down. An increase in the number of homes for sale could have an impact on how quickly homes sell.
Are you seeing more sold signs in your neighborhood?
How Many Real Estate Sales Were in Your Seattle-Eastside City in February 2011?
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How well did homes sell in February, 2011 in your neighborhood?
(Click on the cities below to see real estate trends for the past 5 years. You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. 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%)
Thirty-five percent of the homes for sale around Microsoft in Redmond and East Bellevue sold last month. That’s an incredible number and one we haven’t seen for years. Overall, February was the most positive month for eastside home sales in the past several years!
The plateau: Sammamish, Issaquah, North Bend, and Fall City
The odds of selling a home were 23%.
Median sales price dropped: $499,995 to $489,990. Home values have been more stable here than anywhere else on the eastside.
There were 605 homes for sale.
A total of 153 homes sold.
The odds of selling a home were 35%.
Median sales price increased by 2% to $430,000 to $439,950.
157 homes were for sale
A total of 57 homes sold.
The odds of selling a home were 25.5%.
Median price decreased from $579,990 to $500,000.
283 homes were for sale.
A total of 83 homes sold.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 24.5%.
Median price was down from $397,000 to $375,000.
549 homes were for sale.
A total of 150 homes sold.
The odds of selling a home were 20%.
Median price increased to $542,725 from $537,500, a 1% increase.
251 homes were for sale.
A total of 60 homes sold.
The odds of selling a home were 18%.
Median pricing was down from $981,750 to $899,000.
174 homes were for sale.
A total of 37 homes sold.
Redmond/Education Hill/ Carnation
The odds of selling a home were 16%
Median pricing decreased from $474,950 to $450,000.
293 homes were for sale.
A total of 52 homes sold.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
How Many Real Estate Sales were on Seattle's Eastside in February 2011?
Seattle Eastside Residential Real Estate Sales Through February, 2011
Despite what the media is reporting, February Seattle-eastside real estate sales were the strongest we’ve seen in a very long time. If you look all the way back to December, 2009, there were more real estate sales in February than any other month, except March and April of last year. More homes sold last March and April because of the tax credit. However, this February’s higher sales numbers had nothing to do with a tax credit, but everything to do with buyers being more ready and willing to buy a home. In February there were 2446 homes for sale and 565 homes sold.
The other good news is the number of homes for sale last month was still low when compared to the other months shown on the chart. Because of this, there was a higher percentage of homes selling, 23% in fact.
So far this year, real estate sales on the eastside of Seattle are trending upward. Because of the strong economic base found in such eastside cities as Bellevue, Redmond, Kirkland, and Issaquah, I believe this trend will continue, at least for the near future.
If the number of homes for sale jumps up, it could have an impact on how quickly homes will sell. If we stay with lower levels of inventory, it should help the homes on the market sell more quickly. But if we end up with numbers like we often do in the summer when we have had 14000+ homes in King County on the market, sales will slow down.
Are you seeing more real estate sales in your neighborhood?
How Many Real Estate Sales Were on Seattle’s Eastside in January 2011 Compared to 2010?
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How did January, 2010 compare to January, 2011 in your neighborhood?
(Click on the cities below to see real estate trends for the past 5 years. You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down. 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 18%.
Median sales price hardly dropped: $499,900 to $493,975. Home values have been more stable here than anywhere else on the eastside.
The number of homes for sale increased by 4% and the number of home sales decreased by 4%.
A total of 118 homes sold.
The odds of selling a home were 28%.
Median sales price decreased by 9% to $409,925 from $450,000.
The number of homes for sale was down by 16% and sales were down by 14%.
A total of 54 homes sold.
The odds of selling a home were 19.5%.
Median price decreased from $559,900 to $460,000.
The number of homes for sale dropped by 10% and sales were down by 30%.
A total of 63 homes sold.
Woodinville/Bothell/Kenmore/Duvall/North Kirkland
The odds of selling a home were 18%.
Median price was down from $389,725 to $359,900.
The number of homes for sale declined by 3% and sales were down by 8%.
A total of 105 homes sold.
The odds of selling a home were 18%.
Median price increased to $506,950 from $499,950, a 1% increase.
The number of homes for sale declined by 19% and sales were down by 35%.
A total of 52 homes sold.
The odds of selling a home were 21%.
Median pricing was up from $899,000 to $1,000,000.
The number of homes for sale decreased by 11% and sales increased by 48%.
The total of 40 homes sold.
Redmond/Education Hill/ Carnation
The odds of selling a home were 20%
Median pricing decreased from $524,990 to $376,250.
The number of homes for sale decreased by 5% and sales decreased by 8%.
A total of 52 homes sold.
If you’d like more specific information about your neighborhood or home, feel free to contact me.
Which Homes are Selling on Seattle's Eastside?
Seattle-eastside Real Estate Sales 2010-1st quarter
The eastside sales here include South Bellevue and Issaquah all the way up to the Snohomish County line and from Lake Washington out to North Bend, Duvall, and Carnation.
If you look at the real estate statistics above:
Almost half of these Seattle-eastside real estate sales were below $500,000.
Over 80% of the eastside home sales were below $750,000.
Twenty-seven home sales were below $250,000.
Thirty-six home sales out of the 1119 were priced above $1,500,000.
Only 2% of the sales were above $2,000,000. Out of 1119 home sales, only 18 were priced above this $2,000,000 mark.
24% of eastside sales were short sales or bank owned properties, contrary to what many think. Most of the homes were sold by the actual home owner.
The sweet spot in Seattle-eastside real estate is between $250-500,000, with many of the homes priced between $350-500,000. Pre-2008, the sweet spot was the $500-750,000 price point.
Make More Money Selling Your Home, Part 6, Replace Your Carpet
Mr and Mrs. Home Seller ask: “Why don’t we let the buyers pick out the new carpet? We don’t know what color they may want.”
New carpeting Creates a Fresh, Clean Look
This is one of the most common sentiments I’ve heard over the years from home sellers. Sellers often think it’s best to leave the old carpet, offer a carpet allowance if needed, and let the buyer choose their own carpet.
Is this right? Do buyers want to choose their own carpet?
NO. Not in the Seattle-Eastside real estate market. Buyers DO NOT want to choose, pay or replace carpet when buying a new home. In this area, Seattle’s eastside cities of Bellevue, Redmond, Kirkland, and Issaquah, etc., buyers want to buy a home that’s move-in ready.
On Seattle’s eastside, the typical buyer is a very busy person(s) who may work a lot of hours. Most buyers aren’t looking to do structural or cosmetic updates to a home. They don’t have the time or the inclination. They want to move in and continue on with their lives with the least amount of disruption. They don’t want to be replacing carpet. Besides, there are lots of Seattle-eastside homes to choose from and many of the other homes have been updated and are ready to go.
Most home sellers don’t want to replace carpet either, but think about it. The buyers don’t have to replace your carpet because they don’t have to buy your home. They have other homes to buy. However, as the seller, you have only one home to sell and so you’ve got to do it. Remember, if you feel like you don’t want to replace the carpet, the buyer probably feels the same way. The catch is, they don’t have to do it, they can buy another home.
So if you want to get an offer to buy your home and make the most money while selling your home, replace your carpet if it’s worn, discolored, has stains, you name it. Make sure it looks fresh and clean, otherwise it will cost you money in the sales price for your home and it could even cost you getting a buyer.
Should you spend a lot for expensive carpet? Absolutely not. You should put in a good grade of carpet, but one that is similar to what builders install in new construction. Make sure you pick a neutral color and install a good 8 lb. pad underneath the rug. A thin pad with new carpet won’t work. It’s easy to tell that either the carpet or the pad are thin the minute you step on it. It feels like you’re on cement.
Looking for some other tips to get the most money when selling your home? Read Parts 1-5, planting some “green,” when to set the sales price, yard clean up, dressing up a front door, and replacing moldings and doors. Pick what your home needs to get it “dressed up” to sell in the competitive Seattle real estate market.
Should Cul-De-Sacs Be Banned From Future Development In Washington?
Neighborhood cul-de-sac
There aren’t going to be any more cul-de-sacs in new developments in the State of Virginia. Yes, Virginia will have no more cul-de-sacs. Cul-de-sacs have been banned from new neighborhood developments. Cul-de-sacs are the quintessential icon of the 1980’s-2000’s American suburb.
Here on Seattle’s eastside, new neighborhoods were generally built all over with cul-de-sacs sprinkled throughout. If the neighborhood was a new pocket neighborhood on infill lots in an older part of Kirkland or Redmond, as an example, there might not be room for cul-de-sacs, but if you look everywhere else on the eastside, cul-de-sac neighborhoods were the standard. Woodinville, Sammamish, Issaquah, Snoqualmie, Redmond, and Kirkland all have neighborhoods where cul-de-sacs prevail. Streets with cul-de-sacs were the prized streets to live on, the premium lots, the more expensive lots. Realtors and builders would tout the benefits of living in a cul-de-sac:
- No through traffic
- A place to play
- A place for neighbors to congregate, meet and greet each other at the mailbox.
So why did Viriginia ban cul-de-sacs in future development?
Cul-de-sacs unite the people who live in the cul-de-sac, but separate them from other streets by foot and by car. It’s harder for fire and emergency vehicles to respond quickly when a neighborhood doesn’t consist of through streets. Road maintenance is more expensive with cul-de-sacs instead of through streets.
The New York Times magazine finishes each year with an issue highlighting the great ideas from the past year. The most recent great ideas issue had an article about the cul-de-sac ban in Viriginia. The concept fits with the new sensibility rising in many places as highlighted by the popularity of sites such as walkscore. Walkability and connectivity are this decade’s buzz words for living. Planners are looking more for connectivity, walkability, and better traffic flow for neighborhoods. People are now looking for easy commuting, more connectivity, and more places to walk.
What do you think? Should cul-de-sacs be banned from future neighborhoods? What do you see as the advantages and disadvantages?
