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 3 homes sold.
• Most number of homes for sale: $400-499,999     59 homes for sale.  The time it takes to sell a home in this price range has increased in the last few week to 4.7 months.
• Best week to sell your home in the last 7 weeks?      Week of November 4th, with 18 sales
• Most homes for sale in the last 7 weeks?       11-11-09, when 251 homes were for sale.
• Most of the Bellevue and Redmond homes sales were priced under $499,999. One sale was priced between $1,000,000-1,499,999.
  
• There were 239 homes for sale and 7 homes sold in East Bellevue and Redmond, near Microsoft, last week.  The number of Redmond and Bellevue home sales has dropped by over 32% since the end of August.
  
• Surprisingly, the East Bellevue and Redmond real estate market is slower than most of the other areas on the eastside.  My guess is the location has been so strong for so long, there’s now a period of some adjustment. Also, with the extreme cold of last week, it could be people chose to stay home and not venture out to buy. Because of all the wonderful location factors with good jobs in the neighborhood, an easy commute, good schools, shopping, and parks, I expect this to be only a temporary thing.  I expect the Redmond and East Bellevue real estate market to pick up again.
  

• Peak of the number of homes for sale in King County so far this year?
• July 27th- a high of 13,861 homes for sale.
• Week of 12-14-09  11,335 the lowest number of homes and condos for sale in King County in all of 2009.
  

With inventory down, shouldn’t you think about selling your home now, rather than in the spring?  There’s much less competition to get a home sold and, usually, more people will decide to sell as the year progresses.

Redmond, Near Microsoft, and East Bellevue Real Estate - 12-16-09

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 4.7 months to sell all of the homes in the $400-499,999 price range.