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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?
[googlemaps http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Bellevue,+WA&sll=37.0625,-95.677068&sspn=23.403932,58.271484&ie=UTF8&hq=&hnear=Bellevue,+King,+Washington&ll=47.610377,-122.200679&spn=0.310148,0.910492&z=10&output=embed&w=425&h=350]
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?
[googlemaps http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Bellevue,+WA&sll=37.0625,-95.677068&sspn=23.403932,58.271484&ie=UTF8&hq=&hnear=Bellevue,+King,+Washington&ll=47.610377,-122.200679&spn=0.310148,0.910492&z=10&output=embed&w=425&h=350]
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?
[googlemaps http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Bellevue,+WA&sll=37.0625,-95.677068&sspn=23.403932,58.271484&ie=UTF8&hq=&hnear=Bellevue,+King,+Washington&ll=47.610377,-122.200679&spn=0.310148,0.910492&z=10&output=embed&w=425&h=350]
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.
