May 2013 Home Sales Report - King County and Eastside

May 2013 Homes Sales Report

King County & Eastside Cities of Bellevue, Redmond, Kirkland, Issaquah and Sammamish. May of 2013 King County closed sales were up modestly 19.3% from May 2012 (3122 v 2618). The Eastside showed closed sales up 23.4% (1077 v 873) The median home price in King County in May was up 15.39% to $375,000 The Eastside showed gains with a median sales price up 13.41% to $499,000. That's a 13.67% increase since a median sales price of $439,000 back in January 2013 In this months Home Sales Report Pending sales across King County are up 6.01%, and up 6.37% on the Eastside. Inventory year over year from last year is still in decline. In May total active listings were down again a 26.70% in King County and down 29.62% on the Eastside from May of 2013. In past home sales reports this number is lower that it has been, however until inventory stops falling year over year and goes positive; Buyers will still find a tough market out thereGet Real Estate News. ->Eastside absorption rate is 47.80 for May 47 Days of inventory and Houses For Sale See the May raw numbers from the Northwest Multiple Listing Service:NWMLS May 2013. Also take a look at the housing numbers for Sammamish and Redmond. In Eastside Market Activity remains strong the Market Action Index(a gauge of market activity) remains strong. For good homes that will sell quickly this is true some area are showing signs of multiple offers! With interest rates in the LOW 4's buyers affordability is at an all time high. Also see the national real estate trends at Realtor.com. If you compare the national picture against this months home sales report you will see that King County and the Eastside are top performers.

What does this mean for home sellers?

With inventory numbers half of last year, but closings remain the same. Look closely at your housing goals. If your looking to move in the short term, but you don't feel like your ready. Now may be the time to sell. The lack of inventory is causing buyers to look past deferred maintenance in many cases.

What does this mean for home buyers?

This market is not for the faint of heart. Get pre-approved by a qualified mortgage professional. If not you will miss out on opportunities. Understand that you are up against multiple buyers. Keep your options open and eyes on the market. If you find something that meets your needs you may be paying more than the asking price. Inventory will grow but days on market is pretty short. WARNING Interest rates will rise. [iframe width="500" height="350" src="http://maps.google.com/maps/ms?ie=UTF8&hl=en&source=embed&msa=0&msid=216898005746153148629.000493127d01097a2a7aa&ll=47.639485,-122.133636&spn=0.32386,0.583649&z=10&output=embed"] View Eastside in a larger map Below are links to local city home sales reports in Seattle 5 Eastside Communities of Bellevue, Kirkland, Redmond, Issaquah and Sammamish, Washington for the week broken down by neighborhood. Just click on the link to your neighborhood for the complete breakdown of the homes that are on The chart below breaks down Seattle Washington's Greater Eastside Real Estate homes sales by City, for the week of 6/18/2013.

I hope you find this home sales report useful please share with your friends. To find out what your Eastside home is worth or If you are interested in selling your home for top dollar in the quickest amount of time, please contact me anytime at 206-818-8816 or Click here to send me an e-mail requesting further information.