Your neighborhood skinny: what were the chances of a home selling in your neighborhood in July,2007?

The chances of selling a home on the Eastside in July of July 2007 ranged from a low of 18% to a high of 33%. All of the areas experienced a decline in the chances of selling a home.

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

Sellers had a 21% chance of getting a home sold, DOWN from 25% last month and DOWN from 42% last year.
Median home prices dropped by about 5% to $569,800 from $602,475.
Inventory is up by 51.7% and sales have declined by 21.7% from last year.

I repeat my words from last month. If you are looking for a home on the plateau, now is the time to grab it! As a buyer, you have more choices than have been available for three years.


West Redmond/East Bellevue

Sellers had a 33% chance of getting a home sold, DOWN from 42% last month and DOWN last year.
Median sales price increased to $599,000 from $524,950 last year, 1 14.1% change.
Inventory is also up by 51.9%

The neighborhoods close to Microsoft are still the best performing area on the Eastside. However, we are seeing slowing down there also.

South Bellevue

Sellers had a 22% chance of selling a home, DOWN from 25% last month and DOWN from 36% last year.
Median price climbed to $749,975 from $679,000, a 10.5% increase.
Inventory jumped up by 35%.

Woodinville/Bothell/Kenmore/Duvall

Sellers had a 25% chance of selling a home, DOWN from 26% last month and DOWN from 36% last year.
Median price was up from $476,000 to $550,000, a 15.5% increase.
Inventory is up a whopping 56.2%

Kirkland

Sellers had a 22% chance of selling a home, DOWN slightly from 23% last month and DOWN slightly from 25% last year.
Median price climbed by 15.8% to $757,475 from $654,250.
Inventory is up by about 21%

The percentage of sales as compared to inventory has changed the least of all the Eastside areas.

West Bellevue

Sellers had an 18% chance of selling a home, DOWN significantly from 33% last month, and UP from 14% last year.
Median pricing rose by 23.2% to $1,354,975 from $1,100,000.
Inventory climbed by 20%.

The sales drop translates to 21 less sales this past month.

Redmond/Education Hill/Carnation

Sellers had a 21% chance of selling a home, DOWN from 25% last month, and DOWN from 31% last year.
Median pricing was up from $624,900 to $644,435, a 3.1% increase.
Inventory doubled and was up by 53.2%

Last month appreciation was down because the appreciation reported was a reflection of last month's sales, which were lower in price.