Demand cooling for West Bellevue real estate
The median list price this week in West Bellevue is $1,800,000 down from last week’s $2,429,990. Inventory is up and the Market Action Index (MAI see chart below) is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.
Supply and Demand
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real estate prices in the West Bellevue slipped again this week. You can see that prices continue their trend downward. Watch for a persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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.
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.