Remember, only a couple of weeks to left to buy a home and use the $8000 first time home buyer tax credit since your home purchase must close by November 30th, 2009. You’ll need at least 30-45 days to close the sale, so if you want to buy and use the tax credit, get out there!
What was the hot price range of the week in East Bellevue (east of 405) and West Redmond?
- Most number of home sales $400-499,999 7 homes sold in the price range.
- Most number of homes for sale: $400-499,999 49 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- a high of 13,861 homes for sale.
- Week of 9-28-09 13, 388 homes and condos for sale in King County. Another piece of good news: only 31 more homes and condos are for sale the past two weeks. That’s terrific news.
- Because pricing has dropped, the $400-499,999 price range is now firmly the most dominant in the area.
- There were 228 homes for sale and 25 homes sold in East Bellevue and Redmond near Microsoft last week.
Real Estates Sales in Bellevue and Redmond - 09-30-09
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 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.
West Redmond Real Estate Buzz
First time homebuyer’s…now is the time to buy! Inventory and interest rates are great, you can still put as little as 3 1/2% down on an FHA loan & take advantage of owning real estate in one of the top 3 most favorable areas in the country! Statistics show that home sales have trippled in the last two months in many areas in King county, while inventory has stayed steady. If you are waiting for the bottom to fall…no one will know for sure until we are looking in the rear view mirror! Get out there! : )
Thanks for reminding people about FHA loans and the downpayment of 3 1/2%.
I just received September’s statistics, which I will write about in the next few days. The good news is over 30% of the homes for sale got offers in September in the East Bellevue and Redmond neighborhoods around Microsoft. We haven’t seen such a high percentage of homes selling for a long time.