Home Prices on the Eastside (Washington State) for September 2016
Real estate market data provided by Iva Sarnova of Keller Williams Eastside.
Market recap
September 2016 was a Seller's market. The number of for sale listings was down 9.5% from one year earlier and down 2.3% from the previous month. The number of sold listings decreased 0.4% year over year and decreased 15.7% month over month.The number of under contract listings was down 8.6% compared to the previous month and up 6.3% compared to the previous year.
The Months of Inventory based on Closed Sales is 1.6, down 11.2% from the previous year.
The Average Sold Price per Square Footage was up 1.8% compared to the previous month and up 12.8% compared to last year. The Median Sold Price decreased by 3.4% from last month. The Average Sold Price also decreased by 0.6% from last month.
The Average For Sale Price is Neutral. The Average For Sale Price in September was $1,495,000, up 30.5% from $1,146,000 in September of 2015 and up 1.4% from $1,475,000 last month.
The Average Sold Price is Neutral. The Average Sold Price in September was $884,000, up 14.2% from $774,000 in September of 2015 and down 0.6% from $889,000 last month.
The Median Sold Price is Neutral. The Median Sold Price in September was $730,000, up 12.1% from $651,000 in September of 2015 and down 3.4% from $756,000 last month.
Property Sales (Sold) September property sales were 792, down 0.4% from 795 in September of 2015 and 15.7% lower than the 940 sales last month.
Current Inventory (For Sale) Versus last year, the total number of homes available this month is lower by 134 units of 9.5%. This year's smaller inventory means that buyers who waited to buy may have smaller selection to choose from. The number of current inventory is down 2.3% compared to the previous month.
Property Under Contract (Pended) There was a decrease of 8.6% in the pended properties in September, with 797 properties versus 872 last month. This month's pended property sales were 6.3% higher than at this time last year.
If you are interested in how much current inventory is on the market in a particular area you can contact me by mentioning the area and I would be happy to provide you with statistics. High inventory will suggest that homes are sitting on the market for longer. This would suggest that buyers are in a great position to make an aggresive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers.
Eastside Real Estate Report Summary
The Average For Sale Price is Neutral.The Average For Sale Price in September was $1,495,000, up 30.5% from $1,146,000 in September of 2015 and up 1.4% from $1,475,000 last month.
The Average Sold Price is Neutral. The Average Sold Price in September was $884,000, up 14.2% from $774,000 in September of 2015 and down 0.6% from $889,000 last month.
The Median Sold Price is Neutral. The Median Sold Price in September was $730,000, up 12.1% from $651,000 in September of 2015 and down 3.4% from $756,000 last month.
Find Homes for Sale on the Eastside (Washington State)
Visit my website www.bellevuebestproperties.com to search for available homes or to be notified when homes come on the market.
To find out what you home is worth in the current market email me at ivasKW@gmail.com or call/text 425-299-0430.
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