Weekly Scorecard 11-9-09
Well the inventory appears to be oscillating around the 250 number. This week it is 254 homes, an increase from 243 homes the week prior. Inventories bottomed at 237 homes three weeks ago and then bounced up to 253 homes and then dived to 243 homes and have landed at 254 this week. I wouldn’t be surprised to see them over 260 next week. But let’s see what happens.
The volume of sold homes continued to be robust at 9 homes this week and only one bank owned home in the bunch. Very typical numbers with the average per sq. ft. sales price being $225 and the average home sale price was under $500,000 at $478,222. These are numbers that are very typical for East Bellevue and represent where the market has been at since May when it bottomed.
The pending home sales were the interesting story this week. In the previous weeks the pending home sales volume was pretty low. One week as low as 3 homes. Also the per sq. ft. sales listed price of the pending homes were lower than the closed sale prices. However this week there was 7 pending sales with the per sq. ft. average list price of $235.11 and an average list price of $634,271 for the home overall. All of this suggests some up swing in pricing.
Usual story. Sales appear to keep happening as long as the price is right.