Eastside Real Estate -- Condo Market Statistics -- June 2007

Eastside Real Estate -- Condo Market Statistics -- June 2007

Eastside Real Estate -- Condo Market Statistics -- June 2007

Like residential Single Family Residences, June 2007 Eastside condo inventory (NWMLS areas 500-600), rose substantially from last year (June 2006).  Overall in these areas there were 840 ACTIVE listings in 2007 and 543 ACTIVE listings in 2006 for an increase of 54.70%.  Total Eastside Pendings were 382 for June 2007 and 432 for June 2006 for a decrease of -11.57%.  Eastside Median prices for SOLD units were $334,990 in June 2007 against $274,425 for a staggering 22.07% increase! Year to date, the condo Median prices are up 12.10%.

Area 500, So. Bellevue/Issaquah had the largest hike in median prices at 32.7%.  Area 550 Redmond was the only area that was under last year's median price at -5.63%.

The biggest inventory gain went to Area 530, East Bellevue, which went up a whopping 187.88%!  Area 550, Redmond stayed about even in inventory last year with a 1.49% gain.

West Bellevue, Area 520, had the biggest increase in Pending sales at 30.56%.  Area 600, North Kirkland/Woodinville/Duvall was off -48.62% from last year's sales.

Here is the breakdown by area:

NWMLS Area 500 (South Bellevue and Issaquah south of I90)
Median prices were up 32.07% ($349,975 this year vs. $264,950 last year)
Inventory was up 59.65% (91 vs. 57)
Pending sales were up 17.95% (46 vs. 35)

NWMLS Area 510 (Mercer Island)
Median prices were up 23.86% ($449,000 vs. $362,500)
Inventory was up 128.57% (16 vs. 7)
Pending sales were up 50 (3 vs 2)

NWMLS Area 520 (West Bellevue)
Median prices were off -24.5% ($412,500 vs $$545,600)
Inventory was up 82.98% (47 vs. 36)
Pendings were the same 00.00% (50 vs. 50)

NWMLS Area 530 (East Bellevue)

Median prices were up 10.80% ($297,500 vs. $268,500)
Inventory was up 187.88% (95 vs. 33)
Pendings were down -1.8% (54 vs 55)

NWMLS Area 540 (Sammamish and Pine Lake Plateau)
Median prices were up 10.77% ($359,900 vs. $325,000)
Inventory was up 45.93% (197 vs. 135)
Pendings were up 13.51% (84 vs. 74)

NWMLS Area 550 (Redmond/Carnation)
Median prices were down -5.63% ($334,950 vs. $354,950)
Inventory was up 1.49% (68 vs. 67)
Pendings were down -34.00% (33 vs. 50)

NWMLS Area 560 (Kirkland)
Median prices were up 25.82% ($379,900 vs. $302,000)
Inventory was up 60.95% (169 vs. 105)
Pendings were down -11.94% (59 vs.67)

NWMLS Area 600 (No. Kirkland/So. Bothell/Woodinville/Duvall)
Median prices were up 12.33% ($250,500 vs. $223,000)
Inventory was up 28.26% (118 vs. 92)
Pendings were down 6.2% (56 vs. 109)

Greg Perry, Eastside Realtor
www.425realty.com

These statistics are compiled from the NWMLS, and are not published by the NWMLS.