Eastside Condo Sales Activity

As was true across the Puget Sound region, the inventory of available houses and condos for sale on the Eastside dropped dramatically in November.

  • the median sales price was $900,000, up 2% over last year
  • 20% of those homes sold above list price
  • 45% of the homes sold in 15 days or less
  • the Eastside currently has only 1.3 months of available inventory
  • current inventory levels favor sellers
  • continuing low interest rates favor buyers

Most of the Eastside condo sales activity was in downtown Bellevue and downtown Kirkland.

  • $884,000   Downtown Bellevue median condo sales price in November
  • there are currently only 20 condos for sale in downtown Bellevue; 35 in all Bellevue zip codes
  • $617,500    Downtown Kirkland median condo sales price in November
  • there are currently only 14 condos for sale in downtown Kirkland; 46 in all Kirkland zip codes

It’s a great time to buy a home. Low interest rates (under 4%) make it an ideal and affordable time to purchase a home. There are great loan program options for qualified buyers offering as little as 3% down for conventional or FHA financing.

It’s a great time to sell. With little inventory for buyers to choose from, January will be an ideal time for homeowners to put their homes on the market and stay ahead of the competitive spring market.

 

 

 

Posted on December 17, 2019 at 11:33 AM
Robin Myers | Category: Bellevue, condo financing, condominiums, Downtown Bellevue, first time buyers, home financing, home property values | Tagged , , , , , , , , ,

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