Eastside Real Estate Working-for-you!

Eastside Real Estate Statistics June 2008 -- A 425Realty.com Statcast NWMLS Areas 540 (Sammamish) and 550 (Redmond)

By Greg Perry, Eastside Realtor
www.425Realty.com

Be sure to watch Greg's video commentary of NWMLS Areas 540 & 550 below the charts and the data.

Single Family Homes only:

NWMLS AREA 540 - Sammamish

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	643	766	829	885	853	901	832	759	695	771	836	895	966	1036	973
Sold	152	175	226	201	204	144	141	92	91	83	109	122	136	121	133
Pended	181	216	197	175	157	126	121	93	73	96	118	130	140	132	159
Months of Inventory based on Closed Sales	4.2	4.4	3.7	4.4	4.2	6.3	5.9	8.3	7.6	9.3	7.7	7.3	7.1	8.6	7.3
Months of Inventory based on Pended Sales	3.6	3.5	4.2	5.1	5.4	7.2	6.9	8.2	9.5	8.0	7.1	6.9	6.9	7.8	6.1
Avg. Active Price	894	884	899	889	888	861	869	871	889	852	836	836	832	812	834
Avg. Sld Price	675	657	668	629	659	645	617	654	685	606	651	589	610	636	653
Avg. Sq. Ft. Price	264	252	258	251	248	243	241	245	248	233	242	238	233	237	238
Sold/List Diff. %	99	99	99	99	99	99	99	98	98	97	98	97	98	98	97
Sold/Orig LP Diff. %	98	98	99	98	98	97	97	95	95	94	96	96	96	95	95
Days on Market	56	49	56	58	65	65	60	85	93	80	80	73	78	89	93
Avg CDOM	70	59	70	73	78	71	73	110	120	112	122	103	112	119	123
Median Price	600	585	610	591	568	578	543	539	580	575	595	540	547	580	615

NWMLS AREA 550 - Redmond / Carnation

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	261	287	332	356	349	358	338	300	265	310	361	393	444	442	411
Sold	54	55	89	95	73	53	60	34	44	30	39	40	54	64	73
Pended	51	88	84	73	68	40	53	51	26	36	48	60	64	84	57
Months of Inventory based on Closed Sales	4.8	5.2	3.7	3.7	4.8	6.8	5.6	8.8	6.0	10.3	9.3	9.8	8.2	6.9	5.6
Months of Inventory based on Pended Sales	5.1	3.3	4.0	4.9	5.1	9.0	6.4	5.9	10.2	8.6	7.5	6.6	6.9	5.3	7.2
Avg. Active Price	967	914	919	891	890	875	869	906	918	899	885	874	858	859	858
Avg. Sld Price	725	681	717	667	683	621	629	580	605	733	623	665	627	622	754
Avg. Sq. Ft. Price	269	261	277	259	263	262	262	262	261	253	260	257	257	244	271
Sold/List Diff. %	100	99	98	99	100	99	97	98	98	96	98	98	97	97	98
Sold/Orig LP Diff. %	100	98	98	97	99	96	95	95	95	94	97	96	96	96	96
Days on Market	52	53	49	52	52	58	61	80	67	113	74	89	73	71	94
Avg CDOM	72	74	70	60	56	67	69	80	83	124	103	109	111	97	114
Median Price	722	564	633	634	640	600	570	538	565	653	550	665	610	609	690

*All reports are published Jul. 2008, based on data available at the end of Jun. 2008. This representation is based in whole or in part on data supplied by the NWMLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.

Monday's Inspiration...it's never too late!

I saw this story on the Ellen show over my wifes shoulder a few days ago.  A true inspiration and reminder that we can do anything with determination and hard work.  It is never too late to live your dream.

Alferd Williams was born in the 1930's, the son of a sharecropper.  Alferd never had an chance to go to school.  His mother had him working the cotton fields.  She taught him how to count, as it is necessary in picking cotton, but reading was a luxury.  Alferd made a promise to his mom.  One day he would learn how to read. That one day is finally here. Williams enrolled in the first grade and is learning to read.

Eastside Real Estate Statistics June 2008 - A 425Realty.com Statcast for Bellevue NWMLS Areas 520 & 530

By Greg Perry, Eastside Realtor

Be sure to watch Greg's video commentary of NWMLS Areas 520 & 530 below the charts and the data.

Single Family Homes only

NWMLS AREA 530 (East Bellevue)

 

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	140	148	180	207	238	269	279	262	217	232	266	278	295	346	325
Sold	55	69	87	73	72	47	43	36	37	37	26	46	53	45	43
Pended	62	88	76	66	56	43	34	35	37	32	43	54	48	50	68
Months of Inventory based on Closed Sales	2.5	2.1	2.1	2.8	3.3	5.7	6.5	7.3	5.9	6.3	10.2	6.0	5.6	7.7	7.6
Months of Inventory based on Pended Sales	2.3	1.7	2.4	3.1	4.3	6.3	8.2	7.5	5.9	7.3	6.2	5.1	6.1	6.9	4.8
Avg. Active Price	858	854	829	847	819	788	785	802	811	771	782	774	755	747	803
Avg. Sld Price	667	630	695	717	699	773	666	599	636	615	575	568	594	648	585
Avg. Sq. Ft. Price	286	267	293	307	307	325	282	275	286	254	258	255	261	274	265
Sold/List Diff. %	100	99	99	99	99	97	98	97	99	96	97	98	97	97	98
Sold/Orig LP Diff. %	100	98	98	98	96	95	96	95	96	94	94	95	95	94	95
Days on Market	25	40	35	34	47	35	35	52	68	80	68	99	75	86	67
Avg CDOM	39	49	43	46	56	38	38	63	77	96	96	116	83	114	89
Median Price	566	575	585	610	602	587	615	535	534	575	570	525	535	560	565

NWMLS AREA 520 (West Bellevue)

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	146	154	165	184	192	217	220	216	178	199	256	292	301	316	320
Sold	30	61	32	54	35	23	20	23	10	12	14	16	24	22	19
Pended	37	45	56	27	32	16	16	17	10	13	23	14	26	22	24
Months of Inventory based on Closed Sales	4.9	2.5	5.2	3.4	5.5	9.4	11.0	9.4	17.8	16.6	18.3	18.3	12.5	14.4	16.8
Months of Inventory based on Pended Sales	3.9	3.4	2.9	6.8	6.0	13.6	13.8	12.7	17.8	15.3	11.1	20.9	11.6	14.4	13.3
Avg. Active Price	2725	2764	2537	2256	2217	2144	2122	2073	2052	2150	2124	2133	2215	2164	2217
Avg. Sld Price	1411	1678	2264	1629	1585	1943	1571	1449	1441	1213	1453	1474	1633	1878	1504
Avg. Sq. Ft. Price	435	551	631	510	506	592	498	488	452	445	413	434	467	533	450
Sold/List Diff. %	101	99	100	99	97	97	97	94	96	96	96	96	93	95	94
Sold/Orig LP Diff. %	100	99	99	98	96	95	96	92	94	95	96	92	89	94	91
Days on Market	59	59	50	59	54	61	56	56	57	83	41	88	80	82	98
Avg CDOM	95	91	89	85	69	75	62	57	57	95	171	150	148	119	131
Median Price	1200	1410	1662	1275	1360	1675	1362	1300	1156	1038	1376	1173	1178	1324	1320

*All reports are published Jul. 2008, based on data available at the end of Jun. 2008. This representation is based in whole or in part on data supplied by the NWMLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS

Eastside Real Estate Statistics June 2008 -- A 425Realty.com Statcast NWMLS Areas 500,510

By Greg Perry, Eastside Realtor

Be sure to watch Greg's video commentary of NWMLS Areas 500 & 510 below the charts and the data.

NWMLS AREA 500 (South Bellevue, Issaquah, North Bend, Newcastle below I-90)

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	334	376	449	453	471	508	478	438	399	432	473	485	539	581	580
Sold	98	101	100	99	113	55	55	51	39	27	35	62	59	57	61
Pended	86	115	113	90	77	47	54	45	28	32	58	57	56	69	63
Months of Inventory based on Closed Sales	3.4	3.7	4.5	4.6	4.2	9.2	8.7	8.6	10.2	16.0	13.5	7.8	9.1	10.2	9.5
Months of Inventory based on Pended Sales	3.9	3.3	4.0	5.0	6.1	10.8	8.9	9.7	14.3	13.5	8.2	8.5	9.6	8.4	9.2
Avg. Active Price	1085	1073	1016	986	995	1014	997	991	999	974	970	950	921	932	957
Avg. Sld Price	754	868	681	840	779	666	750	831	720	672	740	710	794	723	735
Avg. Sq. Ft. Price	265	277	266	291	277	264	267	289	241	248	252	265	277	250	256
Sold/List Diff. %	99	99	99	99	99	98	97	97	97	96	98	97	97	97	97
Sold/Orig LP Diff. %	98	98	97	97	97	96	96	95	95	94	95	95	96	94	93
Days on Market	63	55	56	74	64	56	99	74	85	93	71	84	85	97	99
Avg CDOM	82	81	66	86	81	61	119	94	143	148	130	124	157	135	142
Median Price	672	770	630	735	698	628	655	683	630	576	630	625	660	610	636

NWMLS Area 510 (Mercer Island)

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	114	127	139	140	153	161	150	120	97	120	158	148	178	185	196
Sold	22	29	36	40	32	18	19	12	27	12	7	19	21	20	20
Pended	23	32	38	34	20	19	11	24	19	9	11	29	21	17	25
Months of Inventory based on Closed Sales	5.2	4.4	3.9	3.5	4.8	8.9	7.9	10.0	3.6	10.0	22.6	7.8	8.5	9.3	9.8
Months of Inventory based on Pended Sales	5.0	4.0	3.7	4.1	7.7	8.5	13.6	5.0	5.1	13.3	14.4	5.1	8.5	10.9	7.8
Avg. Active Price	3265	3131	3023	2960	2775	2662	2690	3075	3304	2908	2314	2336	2259	2211	2138
Avg. Sld Price	1239	1593	1390	1320	1327	1977	1270	1476	1285	1144	1832	2050	1448	1504	1400
Avg. Sq. Ft. Price	363	506	455	412	432	555	425	406	433	347	588	558	453	454	412
Sold/List Diff. %	97	96	97	99	97	96	95	97	93	97	96	95	94	97	94
Sold/Orig LP Diff. %	96	96	97	96	96	95	90	93	87	88	91	93	92	95	92
Days on Market	37	58	44	55	43	62	86	104	84	90	51	75	87	92	70
Avg CDOM	53	89	62	51	77	93	87	140	138	139	117	137	167	139	98
Median Price	1174	1100	1200	1120	928	1025	950	1272	1090	859	785	1280	1010	1202	1090

*All reports are published Jul. 2008, based on data available at the end of Jun. 2008. This representation is based in whole or in part on data supplied by the NWMLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.

Monday's Inspiration -- 41 year old Oympic Swimmer Dara Torres

Incredible!  At 41 years old, Dara Torres has qualifed for her 5th Olympic Games by winning the 100 meter freestyle and breaking the American record in the 50 meter freestyle.  Her Olympic career has spanned 24 years.

Friday's Did You Know? The Kirkland Ferry Clock

Did you know that the giant clock on the corner of Lake Street and Kirkland Avenue was installed for boat schedules?  Ferry owner, John Anderson, installed the large clock on January 1, 1935 at the dock by Marina Park. 

Before the floating bridges connected the Eastside and Seattle, area residents rode the ferries to navigate across Lake Washington.

The giant Lake Washington Ferries clock placed on a lamppost, still gives Kirkland residents and visitors the time of day.

4 home - Community OPEN HOUSE in Logan Ridge, Lynnwood

Come meet me on Sunday July 13th, between the hours of 1:00 and 4:00 pm, at the beautiful community of Logan Ridge in Lynnwood!  I'll be hosting an open OPEN HOUSE, along with 3 other real estate colleagues to showcase our listings in this lovely community. 

WIN A $100.00 COSTCO GAS CARD!

We'll be holding a drawing at the end of the day for anyone who visits us for a $100 Costco Gift Card!

You'll be able to find me at 20923 13th Pl West.  This is a gorgeous 2 story home built in 2006.  It has 2,554 Square feet and a 3 car garage.  Inside you'll find 3 bedrooms and 2.5 baths.  You can find details for this home here.

Aaron Abrahamson, from Windermere,  will be holding 20917 13th Pl West open.  This is an 1,881 square foot home that has 4 bedrooms and 2.5 baths.  You can find details for this home here.

Tammy Miller's (Windermere) offering is a 4 bedroom, 2.5 bath beauty on 20823 12th Ave West.  This home is 2,373 square feet and the details for this home can be found here.

Elise Touchette, with RE/MAX, is featuring this gorgeous 4 bedroom, 2.5 bath home at 20729 12th Ave. W. that comes in at 2.373 square feet.  You can find details on this home here.

Come by and see us!  You'll qualify for a drawing for a $100.00 COSTCO GAS CARD!

   To get to Logan Ridge, from Logan Rd, turn west on Elberta Rd.  Another quick turn west (right) on 208th St SW.

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This community is located close to Logan Park.  Logan Ridge has a tennis court for residents.

Kirkland Listing! Gorgeous Upper Denny Tri-level with amazing street appeal!

7028 NE 138th St, Kirkland, WA  $479,950
Kirkland Listing, Kirkland home for sale
Greg Perry, Kirkland Realtor, www.425realty.com

Greg Perry | Windermere Real Estate/NE | gregperry@working-for-you.com | 425-829-7012 7028 NE 138th St, Kirkland, WA Immaculate Upper Denny Tri Level Home! 4BR/2BA Single Family House offered at $479,950 Year Built 1970 Sq Footage 1,880 Bedrooms 4 Bathrooms 2 full, 0 partial Floors 3 Parking 2 Car garage Lot Size 10,212 sqft HOA/Maint $0 per month DESCRIPTION This drop dead gorgeous tri-level home will stop you in your tracks! The street appeal for this home in second to none. Inside you'll find new upgraded carpets, many skylights, new interior painting, 6 panel doors and more. This awesome floor plan is open with a soaring ceiling in the living area. The grounds are expertly landscaped and manicured. Brick walkways, and patios through the garden will delight you. I'ts located near St. Edwards, Denny and Big Finn Hill Park and neighborhood stores and services. This home is ready for you to move in to! see additional photos below PROPERTY FEATURES Central heat Fireplace High/Vaulted ceiling Family room Living room Dining room Breakfast nook Dishwasher Refrigerator Stove/Oven Microwave Attic Basement Washer Dryer Laundry area - inside Yard OTHER SPECIAL FEATURES New upgraded Carpets. New interior paint throughout. Master bedroom with private bath. Beautiful 6 panel doors. May skylights Outstanding floor plan with soaring ceilings and fireplace Lovely street appeal with manicured, mature landscape Grand brick walkways and patios through the garden. Recent exterior paint and roof. 2 storage sheds / outbuildings ADDITIONAL PHOTOS Seller contact info: Greg Perry Windermere Real Estate/NE gregperry@working-for-you.com 425-829-7012 For sale by agent/broker Equal Opportunity Housing Posted: Jul 7, 2008, 12:47pm PDT

Monday's Inspiration -- The Americans who risked everything

  Did you know that the Declaration of Independence was not signed on July 4, 1776?

It was actually signed on August 2, 1776 by  56 signers, including two future Presidents, John Adams and Thomas Jefferson.

The signers of this document were considered traitors by the King, and the punishment was hanging.  These men knew the gravity of their actions as they signed America's most important document.

Here is link to "The Americans Who Risked Everything". 

What holds your passion that you would risk everything?

More Information on Real Estate Absorption Rates

By Greg Perry
Kirkland Realtor

A question was asked of me why we consider a Seller's advantaged market less than 12 weeks of inventory at the current rate of sale.  A Balanced  at 12-24 weeks of inventory and a Buyer's advantaged market for anything over 24 weeks.

Here's my take on why this is:

In a Seller’s market (<12 weeks), we have to remember that this number is for ALL ACTIVE AND PENDING inventory in a particular area. To get to this number, a LARGE number of homes have to sell quickly — very quickly–often with multiple offers. This happens when there are more buyers than sellers. As seller’s markets strengthen, and we get into 4 week territory, the market is virtually a feeding frenzy of buyers merely trying to acquire any house. There are still homes in these markets that WILL NOT SELL, because the seller has so grossly overpriced them for condition they aren’t in the ballpark. The Absorption Rate (AR) accounts for every active and pending in the area.

As supply increases, so does market time. Most any seasoned vet figures a well priced home will take 30-45 days to sell in a normal market (not hours or days like in recent seller’s markets). In a balanced market neither buyer or seller have a particular advantage and the good homes are still moving. Few bidding wars happen here. Normal marketing takes it’s course. Generally one buyer is negotiating with one seller at an arms length. Another way of looking at this is a normal, healthy real estate market.

As market time increases further, the sellers become starved for buyers. They see few showings. Weeks of inventory build. The buyer gains full advantage as they have so many choices. Only the cream of the crop (compelling homes) get sold. The rest just sit on the market….until the market changes…..or until the seller makes their home the compelling offering.

I started studying AR’s after listening to Larry Kendall, who owns The Group, which has the highest agent productivity of any real estate company in the US. Currently the CRS (Council of Residential Specialists) is starting to teach practical applications of AR’s in working with sellers and buyers.

I find AR’s incredibly useful in negotiations for buyers and useful to help sellers really understand the market.

Here is a link to some very graphic heat maps based on AR’s. This is for 3rd quarter 2007…..the quarter where the market shifted. I wrote this post in October of last year.

http://blog.seattlepi.nwsource.com/realestate/archives/124285.asp

Statistics are tricky and multi layered. AR’s are not the end all be all of RE stats. I am convinced after over 4 years of study and application, however, that AR’s are best way to measure the relative strength or weakness of a RE market…..and here’s why….. AR’s are the sales ratio of both supply AND demand numbers. We cannot just look at supply and have any real understanding of a market.

Used in conjunction with customary Comparative Market Analysis data, AR’s are powerful in assisting buyers and sellers understand what to do.