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Pending homes sales for Seattle and the Eastside areas for the week of 7-22-12
Here is a look at the weekly ratios ending on July 22, 2012 for residential homes in five areas. This information looks at what has gone Pending (under contact) over the last seven days. Of the five areas that I track, North Seattle had the highest percentage of homes go under contract with 21%. In Redmond, only 8% of homes went under contract. The hot price ranges for Sellers are in the red and yellow boxes below. You can see that in Kirkland, there are currently two homes active in the price range of $250,000 to $299,999 with 5 homes going under contract last week. You can look at your competition by price range and by your area to help you make an educated decision about listing your home or coming up with a strategy to buy a place. How does your area look?
Active vs Pending 7-22-12 presented by John Fiala
Real estate inventory is low, homes are going quickly in Bellevue Washington
This home went under contract in two days because of the quality of the remodel and the low inventory in the area.
Stunning Bellevue home remodeled from the studs out. This 2,680 approx sqft, 4 bed, 2.75 bath is a must see. The home features a master retreat, office, bonus room and a 2 car garage. Updates include a new roof, siding, vinyl windows, bathrooms, Sub-Zero, Viking gas burner, bamboo floors, kitchen cabinets, quartz countertops, hot water tank, faucets and security system. This is just the start. Large private fenced backyard. Easy access to freeways, parks, and Microsoft. Bellevue School District.
Lake Washington and Seattle Views, Lakewood Charmer
Charming Lakewood view home with today’s updates. This light and bright craftsman has hardwood floors, fireplace, and a deck with views of Lake Washington. Updates include remodeled bathroom, vinyl windows, electrical, plumbing and an efficient Hydronic heating system which runs through the new hot water tank. Rare one car garage with basement access and private backyard deck with views of Seattle. Minutes to Seward Park, boating, and restaurants.
Tolls increase July 1 on Tacoma Narrows and SR 520 bridges
Toll rates will be increasing July 1st for the Tacoma Narrows Bridge and 520 Bridges. See the link below for the new toll rates.
http://www.wsdot.wa.gov/News/2012/05/30_tollsincreasejuly1.htm
Emerald Heights Academy
I had the chance to speak at a leadership breakfast yesterday for the Emerald Heights Academy. I was able to share stories of my past career in athletics about life lessons, leadership and faith. During the breakfast, there were two middle school kids that gave speeches about leadership. I was blown away by how poised and carefully crafted their speeches were. You are doing a great job Emerald Heights Academy!
King County Washington Real Estate Trends Video presented by John Fiala
Here is a good video that looks at the real estate inventory levels in King County Washington over the last five years. Inventory is down and pending homes sales are still strong. Enjoy the video.
King County Real Estate Market Trends
The chart below looks at the last five years of King County Residential homes. You can see how the inventory fluctuates during the year. The inventory normally increases after the New Year and decreases in the winter months. Currently, this is not the case. Inventory is down significantly from last year and from the preceding five years. Notice the yellow line below, this gap between the new listings and pending home sales has decreased dramatically since the height of the market in July 2007. The amount of new inventory is not keeping up with demand, and in some areas there is appreciation occurring. Pending home sales (under contract) are in the orange line below. We are at the same level of Pending home sales today as the height of the market in 2007 with half the inventory available. Buyers who have been waiting for the bottom of the market are starting to come off of the fence and purchase homes. In some areas and price ranges, there are multiple offers and escalation clauses in contracts. If your home is in a hot area for Buyers, it could be a great time to put your home on the market. If you are curious about your home or your area, please let me know how I can help.
King County Washington Real Estate presented by John Fiala
North Seattle leads with Pending home sales
North Seattle had the highest amount of homes go under contract last week with 18% going pending of the five areas that I track for my blog. Bellevue had at least one home go under contract in each price range, even in the higher price ranges. The Red areas are considered Sellers markets. What does you area look like?
The real estate market is changing in Seattle and the Eastside
The market has been changing daily. There are several price ranges that have been receiving multiple offers and even some offers with escalation clauses. The market in general is picking up but it all depends on the area and price range. Take a look at the chart below to see the areas in red and yellow that shows a Sellers market and Balanced market for the week of May 7th to May 13th 2012.
Active vs Pending 5-13-12 Presented by John Fiala
The Madhouse Project
I wanted to thank everyone that help support The Madhouse Project Charity this year. Our event was held on April 28th 2012 and we raised about $190,000 to benefit to the Seattle Cancer Care Alliance. Here is video that I put together to help promote the event. Stay tuned for the date next year.
