What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

• Most number of home sales $300-399,999      5 homes sold in the price range.
• Most number of homes for sale: $400-499,999      50 homes for sale.
• Best week to sell your home in the last 7 weeks?      Week of August 26th with 28 sales in the area.
• Most homes for sale in the last 7 weeks?       8-19-09 when 290 homes were for sale.
• Peak of the number of home for sale in King County so far this year?  July 27th marked a high of 13,861 homes for sale.
• Week of 9-23-09   13, 373 homes and condos for sale in King County.
• The $400-499,999 price range is now firmly the most dominant in the area.  Will this change when the $8000 tax credit for first time home buyers goes away?  It remains to be seen.
• It’s encouraging to see the number of homes for sale drop by almost 50 for sale from just 5 weeks ago!
  
• Remember there are probably only a few weeks left to buy a home and close to be eligible for the $8000 tax credit. Time is getting pretty tight.  Home sales must close by November 30th to be eligible and closings may get backed up as first time buyers try to make the deadline.  Remember the Thanksgiving holiday and King County furlough days will also affect the amount of time left to buy a home.


Bellevue and Redmond Home Sales - 09-23-09

This chart is updated weekly by (Windermere Real Estate/East, Inc.,using MLS data to show the price ranges of the homes sold each week.

Here’s how it’s set up:

The colors show who has the advantage in a particular price range. 

• Green means the buyer has the advantage with many homes to choose from and not that many selling.
• Yellow means the number of homes for sale and the number of sales in the price range is balanced between the buyer and the seller.
• Red indicates a sellers’ market where the seller may have the advantage as more homes are selling when compared to what’s available.

Down the side of the chart, the home sales activity is broken down into a price bracket of $99,999. All the homes priced between $400,000-499,999, as an example, are put together in one price category in the chart.

Across the top, the chart is broken down into real estate activity by the week.

If you take the $400-499,999 line and follow it across the chart, you’ll see what has happened each of the last seven weeks.  There are three columns under each week. On the left side of the column is the number of homes for sale in East Bellevue and Redmond, near Microsoft.  The middle column shows how many homes sold that week, and the final column under the date shows the months supply of homes for sale.  In other words, if no other homes came up for sale, it would take 2.4 months to sell all of the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.