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August: West Bellevue’s real estate market slowing

By
Managing Real Estate Broker with 206 909-7536 AdrianWillanger-broker.com 17900

 

      August: West Bellevue’s real estate market slowing

This Week: The median list price this week in West Bellevue is $2,088,880 is up from  last week’s $2,088,000.  The Market Action Index  (MAI see chart below) has been trending down lately, while inventory is climbing.  These trends imply a weakening market.

  

Supply and Demand

The  West Bellevue real estate market has been cooling off a bit in recent weeks, as more homes are available and demand is less.  We’re already seeing prices move lower as a result.  Expect this trend to continue especially if the index falls to the Buyer’s zone.   Watch fro a persistent up-tern in Market Action Index to signal prices rising again.

 

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.

 

 

 

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Adrian specializes in green home marketing utilizing traditional and social media marketing to create the widest exposure of your property.

Comments (4)

Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Amazing how those prices react so quickly to a market slowdown. West Bellevue and the Enatai neighborhood will likely always be a popular spot for buyers. An experienced broker is the best guide to navigate the changing marketplace - you would be the one to call in the Seattle area. 

Aug 16, 2014 05:19 AM
Rene Fabre
ARFCO Media - Renton, WA
Practicing Philosophical Eclectic of the Arts

Hi Adrian... The West Bellevue Enatai neighborhood is a such a beautiful area. I agree, a real hidden gem. It feels rural, which is amazing because of its close proximity to downtown Bellevue. 

Aug 16, 2014 05:34 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Adrian, buyers would be wise to utilize your expertise in the West Bellevue or Enatai areas! 

Aug 16, 2014 10:09 PM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Adrian, West Bellevue as i believe i have said in the past is obviously a luxury home market and area. At high price points the market can swing very quickly. have a great sunday. 

Aug 17, 2014 04:51 AM