Seattle’s Eastside: Bellevue, Issaquah, Kirkland, Redmond
Residential Resale Single Family Homes: NO new construction, NO townhouses, No Condominiums, No vacant land.
The following are 2nd quarter numbers.
- The median SOLD price is $1,680,000.
- Only 7% of the SOLD homes are priced under $700,000.
- Nearly 60% of the homes SOLD are priced between 1M to 2M.
- There has been a 70% increase in the number of homes SOLD priced over 2M.
The following is based on 2nd quarter numbers and year on year data (YOY).
- The number of total sales is down 16% YOY.
- The SOLD prices overall are up 20% from last year.
The following is based on 2nd quarter numbers Compared to the first quarter (Q1).
- The overall SOLD prices are down 2% from Q1.
- The number of sales across all prices has doubled since Q1.
The following is from a 30-Day Market Report.
- Overall, we are approaching 3 months of inventory. (4 to 6 months is a balanced market).
- The hot price point 1M-2M has 2.38 months. (Compared to the .34 months just 3 months ago).
- There is an unbelievable 14 months of inventory of homes priced over 4M. (43 active/3 SOLD)
- The median market time for homes to go under contract is still very low at 8 days.
- We see 36% of the homes go under contract in the first week SOLD at 2% over the list price.
- Homes SOLD after the first week have a notable decrease in price. (Down to 90% of the sellers asking price).
Have you been thinking about a move … it may be time to start planning? See my guides for both Sellers and Buyers They are constantly morphed to meet the demands of the current market. Let’s get together to discuss your plans, needs and expectations. We will discuss options that will help put a plan of action in place. Contact Tom Directly
Not all agents are REALTORS®. We are held to a higher standard. Beyond the education, we are held accountable to the Code of Ethics. Always ask, are you a REALTOR®?
Tom Perry – Realty Executives Brio 206-713-2538 email@example.com