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Keeping with the monthly tradition of examining housing prices in Bellevue based on the area defined on the different high schools, here are the results for July. Data was obtained using this method and consists of the median house price sold.
By the way, you can see a map of the high school boundaries here. This will be the last month that I show all data in a chart. Starting next month I will include just the last two months and a graph.
|
High School
|
January 2009
|
May 2009
|
June 2009 |
July 2009 |
August 2009 |
July -August Change
|
| Interlake |
$467,000 |
$445,000 |
$435,000 |
$435,000 |
$432,000 |
|
| Sammamish |
$496,000 |
$414,900 |
$415,000 |
$418,500 |
$418,500 |
|
| Bellevue |
$957,000 |
$850,000 |
$850,000 |
$930,000 |
$915,000 |
|
| Newport |
$585,000 |
$480,000 |
$505,000 |
$510,000 |
$535,000 |
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This shows that Bellevue continues to be relatively stable. On average prices haven't fallen here since June. I cannot say what will happen in the future, but from this data it looks to be a relatively safe time to buy. The chances are decent that you can buy a house in Bellevue and not have it drop significantly in value a few months after purchasing it.
| High School |
Median Activate Home Price May 2009 |
June 2009 |
July 2009 |
August 2009 |
| Interlake |
$625,000 |
$645,000 |
$675,000 |
$650,000 |
| Sammamish |
$550,000 |
$529,990 |
$574,950 |
$585,000 |
| Bellevue |
$1,299,999 |
$1,395,000 |
$1,350,000 |
$1,475,000 |
| Newport |
$815,000 |
$795,000 |
$815,000 |
$790,000 |
|
High School
|
Number of Homes May 2009
|
June 2009 |
July 2009 |
August 2009 |
| Interlake |
52 |
26 |
54 |
55 |
| Sammamish |
176 |
159 |
161 |
149 |
| Bellevue |
338 |
340 |
336 |
319 |
| Newport |
96 |
103 |
120 |
124 |
Inventory has basically stayed the same. What I am seeing in the market is that homes are selling. Overpriced homes sit on the market, but if a house is priced decently it will sell and may sell quickly.
While the market is certainly not thriving, it is slowly reaching a healthy state. Prices have remained the same for three months now and inventory has not increased. What will be interesting to see is how this trend continues.
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;)
;)
