Weekly Scorecard 11-2-09
Well I thought the inventory would keep gradually building but shows what happens when I try to make a prediction. This week we saw a slight drop to 243 homes so it dipped back under 250 homes. Traditionally a low number for East Bellevue. There was the largest number of sales yet in a single week with 15 closed homes. Two of which were waterfronts. Excluding these homes the average per sq. ft. sales price was $226 per sq. ft. lower then in the past weeks number but very close to the traditional East Bellevue average per sq. ft. price of $220. The average home sale price was $554,808 a somewhat higher average for East Bellevue which is usually around $475,000. There was only one short sale in this week’s sold homes and no bank owned homes. Five homes went pending this week and the average per sq. ft. sales price was $225. However the average listing price was $650,550 very high for East Bellevue. Just as a note the pending homes’ average initial list price was for the sold pendings was $847,990. Looks like if the sellers wanted a sale they had to come down quite a bit on their asking prices.
Again things look stable. The per sq. ft. average sales price was in the usual $220 per sq. ft. range the inventory does not appear to be growing excessively. It is obvious the buyer will buy if the pricing is right.