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It’s hard to believe that in December so few homes were on the market in the Redmond and Bellevue neighborhoods surrounding Microsoft.   Only 125 homes were for sale near Microsoft.

These neighborhoods continue to out perform the rest of Redmond and Bellevue,* and the other eastside cities such as Sammamish, Issaquah, and Kirkland.  This doesn’t mean more homes sell in this area, but the percentage of homes that sell, the absorption rate, is almost always the highest on Seattle’s eastside.**  Thirty-six percent of the available homes sold last month and on average took 104 days to sell.

Why is there a higher percentage of homes selling in this area than other areas on the eastside?  Because of it’s close proximity to jobs, not just at Microsoft, but in Bellevue, Redmond, Kirkland, and Seattle.  Housing is more reasonably priced with the opportunity to find homes in a variety of price ranges.  The schools are good, the commute is great, and the access to parks and shopping is fairly easy.

Median pricing jumped up from $438,000 to $455,000.  But don’t get too excited as median pricing was down in November, from $527,000 to $418,000.

Does this mean median prices are on a roller coaster?  Not really, because the number is based on the sales that happened during a particular month.  It’s more realistic to look at all the ups and downs over the year to see whether prices have really increased or not.  Prices the past year began to stabilize, which is very good news.

A look back at 2011 real estate near Microsoft:

• The highest number of homes for sale was in August with 210 homes.
• The lowest number of homes for sale was 125 homes in December.
• The number of homes for sale each month was between 160-200 homes, with the exception of December.
• July- most homes sold (pending), 69.
• January-least number sold (pending), 41
• Between 40-70 homes sold (pending) each month.
• Best absorption rate:  July with 37%**
• Median prices remained stable at about $400,000 for the year.

If you’re thinking of selling, it usually is best to get on the market before the number of homes jump too high and competition is stiffer.  It’s usually easiest to sell your home when fewer homes are on the market.  So please look at the numbers above and think about moving sooner in the year.

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.