Eastside Real Estate April 2007 Condo Statistics
By Greg Perry, Eastside Realtor
As with the residential side, Eastside condo inventory increased from last year. In April 2006, the Eastside had 444 units. April 2007 is showing 621 units for an inventory increase of 39.9%. Pending sales are off as 2006 had 400 PENDINGS, this year there were 377 PENDINGS for a decrease of 5.8%.
Normally we would think that if inventory is rising and pendings are falling, prices would fall. Median prices, however continue to rise with a whopping 24.5% increase over last year! 2006 saw a median price of $271,082 with this coming in at $337,533. This might be partially explained by the fact that even though we saw a significant rise in available inventory, overall inventory levels remain at an all time lows. Another factor is that entry level condos are selling much more quickly than higher priced luxury condos.
Here is the chart for April 2007 Eastside condos (Click on chart for larger image):
Eastside condo real estate statistics are from NWMLS areas 500 (Issaquah, I-90 corridor), 510 (Mercer Island), 520 and 530 (Bellevue), 540 (Sammamish), 550 (Redmond, Carnation), 560 (Kirkland,Bridle Trails), 600 (North Kirkland, Woodinville).
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