The upper end saw the return of the Jumbo Loan in March and that market saw volumes pick up. Some outstanding values were obtained with new homes over a $1,000,000 sale prices going for under the cost of construction without the land or financing cost. In Bellevue we saw a big pick up in sales volumes and more buyers entered the market in July as they had a good selection and the feeling the free fall in pricing was over.  However the big story as we close out the year is that pricing remains stuck. Effectively on a per sq. ft. basis it remains in a “trading range”.  In fact as the new construction inventory becomes depleted the averages are starting to fall again. The new construction homes tend to sell for a higher average price than the resales and pull the averages up overall. The best place to look for true pricing is to check the per. sq. ft. price as to the average home sale price.  The per sq. ft. price tends to show an overall average better indication of what a buyer will pay for a home in a particular area whether new or resale. A review of the Altos stats will show that pricing remains soft and the buyer is focused on value and is very discretionary. They will buy but only if the price is right. So what is in store for 2010?  Tomorrow I will identify what I think the big trends are that will effect 2010.