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Real estate prices in West Bellevue higher, but market showing signs of weakening


 
  Real estate  prices in West Bellevue higher, but market showing signs of weakening
 
This Week:
The median list price this week in West Bellevue is $2,599,800 is up from  last week’s $2,399,000.  The Market Action Index  (MAI see chart below) is trending down lately, while inventory is climbing.  These trends imply a weakening market.

 
Supply and Demand
West Bellevue’s home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks.  This is a Seller’s market so watch for upward pricing pressure in the near future if the the trend continues. 

Price
Prices in West Bellevue hit another all time high this week.  You can see that prices continue to march higher.  Look for a persistent downtrend in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength finally abating.
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 ... more

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