Your neighborhood skinny: What were the chances of selling a home in your Eastside neighborhood in June, 2007?

In June of 2007, the chances of selling a home mostly stood between 23-26%, with the exceptions being West Bellevue with a 33% chance and West Redmond/East Bellevue with a 42% chance.


The plateau: Sammamish, Issaquah, North Bend, and Fall City.

Sellers had a 25% chance of selling, DOWN from 29% last month, and DOWN from 40% last June.
Median home prices increased by 5% to $604,475.
Inventory is up by 53% and sales have declined by 4%.

Buyers, if you have been waiting to buy on the plateau, now is the time for a good value. This area wins for having the most homes to choose from on the Eastside. Inventory is near the all time high on the plateau and has not been this high since July of 2004. (Correction from last month: the chances of selling in May was 29%, not 39% as listed in last month's report).


West Redmond/East Bellevue

Sellers had a 42% of selling a home, DOWN from 63% in May, and DOWN from 70% last June.
Median home prices have increased by 12% from $555,000 to $624,500.
Inventory has increased by 51% and sales have declined by 8%.

West Redmond/East Bellevue wins as the area on the Eastside with the highest percentage of sales, although the chances were less than last month and last year. Even this area is coming back to earth a bit with more of a level playing field between buyers and sellers.

South Bellevue

Sellers had a 25% chance of selling a home in June, DOWN from 29% in May, and DOWN from 42% last June.
Median pricing has increased by 7.5% from $649,970 to $699,000.
Inventory has increased by 42% and sales have declined by 16%.

Woodinville/Bothell/Kenmore/Duvall

Sellers had a 26% chance of selling in June, UP from 24% in May, and DOWN from 39% last June.
Median pricing has increased by 15% to $522,475 from $452,475.
Inventory has increased by 54% and sales have increased by 6%.

Kirkland

Sellers had a 23% chance of selling a home in June, DOWN from 31% in May, and DOWN from 30% last June.
Median pricing has increased by 15% from $600,000 to $694,000.
Inventory has increased by 32% and sales have only increased by 1%

South Bellevue

Sellers had a 25% chance of selling a home in June, DOWN from 29% in May, and DOWN from 42% last June.
Median pricing increased by 7% from $649,970 to $699,000.
Inventory increased by 42% and sales declined by 16%.

West Bellevue

Sellers had a 33% chance of selling a home in June, UP from 29% in May, and DOWN from 38% last June.
Median pricing is up 20% from $1,245,000 to $1,500,000.
Inventory is up by 21% and sales are up slightly by 8%

West Bellevue wins for the area with the highest appreciation and the highest median price.

Redmond/Education Hill/Carnation

Sellers had a 25% chance of selling a home in June, DOWN from 33% in May, and DOWN from 44% last June.
Median pricing declined by 2% from $615,000 to $598,000.
Inventory increased by 36% and sales declined by 22%.

This area had the greatest decline in sales and is the only area that showed a decline in median pricing. I believe the decline in median pricing is an anomaly and not a reflection of a true decline in pricing in this area.

Buyers, this is more your market and it is a great time to find a great value.