Image via Wikipedia

It’s important to look more locally at the real estate market to get a more accurate picture of what’s truly happening.   This post looks at the sales activity in the Bellevue and Redmond neighborhoods around Microsoft.*

Twenty-nine percent of the available homes in this area sold last month and homes took 60 days to sell.  One of the  best absorption rates** and the shortest market time on all of the eastside!

Median pricing was down this past month, from $527,000 to $418,000.  These numbers are based on the sales that happened during November and is a function of what sold that particular month.  We’ll need to follow the next several months to see if prices in the area are increasing or decreasing.

With fewer homes on the market, more affordable prices, and low interest rates, we have a more positive and realistic look for the real estate market.

If you’d like more specific information about your home and where it should be positioned to sell, don’t hesitate to contact Brooks Beaupain, my business partner, or me.

By the way, where are Bellevue and Redmond, WA?

*(The data does not cover the entire cities of Redmond or Bellevue, but just the areas east of downtown Bellevue and highway 405 and near Microsoft in Redmond.)

**The absorption rate is the number of homes for sale divided by those that actually sold.