Weekly Scorecard 6-28-10
What a week. Inventories were up again to an all time high but the sales volume was off the chart. west Bellevue had over 15 closed sales. This is an extrodinary number with the averages being 2 to 3. However the pending sales were still about half of the sold homes. Again west Bellevue was a study in extremes with only 2 pending sales versus 15 closed. The other most notable point regarding the West Bellevue sales was he average price with two waterfront homes over $4,000,000 closing. The other areas had the same trend but not as extreme with closed sales running 2 to 1 over pending sales. Howvever prices were flat if you look at the per sq. ft. prices. I think that is the story of this market with good news being offset by trends such as increasing inventories and decelining pending sales keeping prices flat. The muddle still keeps going.
The spreadsheet is here: Weekly scorecard 6-28-10