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About This Site

By on June 1st, 2009 at 12:05 AM · Comments Off

Bellevue Homes and the Bellevue residential real estate market is what we keep track of and what we talk about here. Bellevue has three distinct neighborhoods. East Bellevue has affordable homes in a great location with easy access to major employment centers and shopping. East Bellevue is the focus of the City of Bellevue’s neighborhood planning and transportation infrastructure for the future; this will be an area to watch. West Bellevue is located west of I-405 and has a variety of neighborhoods and is the area that contains neighborhoods such as Clyde Hill, Medina and Vuecrest and is home to some of the wealthiest people in the world. However don’t be fooled there are nice affordable older homes in neighborhoods you can walk to downtown Bellevue from. South Bellevue is south of I-90 and is known for its view neighborhoods such as Somerset and Lakemont and affordable well located family homes in the Eastgate neighborhood. Great I-90 access with some of the best views in the Puget Sound area is the highlight of this area.

In order to help you better understand the Bellevue Home market this site keeps track of statistics for each of the three Bellevue Home market areas. You will see that monthly statistics are available for all neighborhoods and weekly trends provided by Altos Research. Each Saturday there is a Distressed Inventory report and each Monday is the Weekly Scorecard which reports on the sales activity for each of the three Bellevue Home market areas. There are general posts from time to time commenting on market trends and events which may have an impact on the local real estate market.

Bellevue has one of the most vibrant economies in the world and keeping track of the residential real estate market is very important in assisting you regarding a buying and selling decision. In addition we have information about schools and parks for the various neighborhoods to help you understand each area a little better.

Your suggestions and comments are appreciated so please let me know. This site will continually evolve to supply the information you want.

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Weekly Scorecard 7-19-10

By on July 19th, 2010 at 7:46 PM · No Comments

Inventories appear to have peaked but the sales keep occuring at a pretty good clip. What is especially notable this week is the number of sales over $1,000,000. East Bellevue had a closing over a $1,000,000 on a resale home this is a first in over a year. West Bellevue had 10 closed sales; of those sales 5 were over a million. There was a waterfront that went for $5,000,000 and a new construction home in West Bellevue went for over $3,000,000. All of these sales were arms length sales and were not short sales or bank owned properties. It is evident that the market is looking for luxury homes and there is very little new construction to fill the gap. The buyer’s choice is either to pay up or build a custom home.The average per sq. ft. price in West Bellevue has been over $400 three weeks out of the last four. This is a trend given the recent sales in my opinion. South Bellevue also had a couple of sales over a $1,000,000 although its per sq. ft. prices seem stuck but the average sale price are moving up. It is very evident the more expensive homes are starting to move.

The spreadsheet is here: Weekly scorecard 7-19-10

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