February 2013 Homes Sales Report for King County & Eastside Cities of Bellevue, Redmond, Kirkland, Issaquah and Sammamish. February of 2013 King County closed sales were up modestly 7.2% from February 2012 (1688 v 1574). The Eastside showed closed sales up 16.6% (605 v 519) The median home price in King County in February was up 20.94% to $332,577 The Eastside showed gains with a median sales price up 25% to $439,000. Keep in mind that while the year over year gains seem high they are steady month to month see the December 2012 year in review.
Pending sales across King County are at the same pace as last year? up only .48%, and up only 3.15% on the Eastside. Inventory year over year from last year are still in decline. In February total active listings were down again a 45.32% in King County and down 47.80%(January 2013 49.76%) on the Eastside from February of 2013. Half as much inventory as a year ago and the same amount of closings.
->Eastside absorption rate is 47 for February 47 Days of inventory
See the February raw numbers from the Northwest Multiple Listing Service:NWMLS February 2013. Also take a look at the housing numbers for Sammamish and Redmond. In Kirkland and Redmond the Market Action Index(a gauge of market activity) remains strong. For good homes that will sell quickly this is true some area are showing signs of multiple offers! With interest rates in the LOW 4?s buyers affordability is at an all time high. Also see the national real estate trends at Realtor.com
What does this mean for home sellers?
With inventory numbers half of last year, but closings remain the same. I would suggest that if sellers price your home competitively. Homes around the $450,000 near the heart of the Eastside and condos around $250,000 should move reasonably quickly.
What does this mean for home buyers?
Again get pre-approved by a qualified mortgage professional or you may miss out on your only opportunity. Be patient but assertive. Keep your options open and eyes on the market. If you find something that meets your needs be ready. Inventory will continue to grow but we have quite the hole to climb out of. WARNING Interest rates will rise.
View Eastside in a larger map
Here is a breakdown of real estate homes sales in Seattle 5 Eastside Communities of Bellevue, Kirkland, Redmond, Issaquah and Sammamish, Washington for the week broken down by neighborhood. Just click on the link to your neighborhood for the complete breakdown of the homes that are on The chart below breaks down Seattle Washington?s Greater Eastside Real Estate homes sales by City, for the week of 3/15/2013.
To find out what your Eastside home is worth or If you are interested in selling your home for top dollar in the quickest amount of time, please contact me anytime at 206-818-8816 or Click here to send me an e-mail requesting further information.
Dan Edwards a comprehensive Real Estate Professional, known as "The Eastside Real Estate Guy." As an active Real Estate Broker on the Eastside, sharing with you what is going on on the Eastside. I hope you enjoy my posts and comment often!
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