August: Bearish signs for West Bellevue’s real estate market
This Week: The median list price this week in West Bellevue is $2,088,000 is down from last week’s $2,193,000. The Market Action Index (MAI see chart below) has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market.
Supply and Demand
The West Bellevue real estate market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to see prices move lower as a result. If the MAI falls into a Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in the Market Action Index.
Price
Again this week we see a downward notch for prices in west Bellevue. We continue to pull back from the market’s highs. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices. .
Localized real estate market reports are great for getting a “feel” of what that specific market is doing. For a more accurate pricing on residential property a COMPETITIVE MARKET ANALYSIS (CMA) needs to be done comparing your home with current sales.
The appeal of living in West Bellevue’s Enatai
Living in Enatai is all about the location and amenities one of the hidden gems is the Enatai Beach Park. The small beach park is known and treasured by Enatai residences. Located on the southern end of Enatai the beach is within walking distance of most homes located in Enatai and is an easy stop off of the I-90 Bike Trail. The community park offers swimming and a picnic area along with seasonal canoe, kayak rentals, dock and boathouse. View other similar homes for sale in Enatai
Enatai: A trail runs through it
Forget the walking score of 38 Enatai is a very walkable neighborhood, particularly if you enjoy an active outdoor Pacific Northwest lifestyle. Enatai is perhaps one of best kept secrets in King County. Enatai residences know and embrace the character, majestic trees and the inter-connectivity of the area.
Running through Enatai is 108th Avenue SE , which runs from Bellevue Way to I-90, the road has been improved to accommodate cyclists and walkers. Within the Enatai neighborhood 108th connects neighbors to the local elementary schools, numerous parks including the Enatai Beach Park and access to the I-90 trail-head.
Comments(6)