Bellevue Real Estate » avergae price per sq. ft. http://eastbellevuere.com Your source for reliable information on Bellevue's residential real estate market. Sat, 16 Apr 2011 16:01:37 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Weekly Scorecard 11-2-09 http://eastbellevuere.com/index.php/2009/11/02/weekly-scorecard-11-2-09/ http://eastbellevuere.com/index.php/2009/11/02/weekly-scorecard-11-2-09/#comments Tue, 03 Nov 2009 01:14:29 +0000 George Thurtle http://eastbellevuere.com/?p=439 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.

]]> http://eastbellevuere.com/index.php/2009/11/02/weekly-scorecard-11-2-09/feed/ 0 Weekly Scorecard 10-26-09 http://eastbellevuere.com/index.php/2009/10/26/weekly-scorecard-10-26-09/ http://eastbellevuere.com/index.php/2009/10/26/weekly-scorecard-10-26-09/#comments Tue, 27 Oct 2009 02:35:20 +0000 George Thurtle http://eastbellevuere.com/?p=434 It appears the overall inventory is marching back up. It is now 252 homes. Three weeks ago it bottomed at a little over 230 homes. However this is not a lot of homes for this market which can run over 300 homes but it looks like as our sales volume decreases due to increasing prices and seaonality factors that the inventory is starting to creep back up. Will probably keep heading higher until Q1 next year.

Closed sales this week were 7 homes. Not bad. The week previous had 10 sales but it appears overall sales volumes are slowing down a bit. Average per sq. ft. prices are drifting back to the $220 per sq. ft. and are down from last week’s $235 to $229 this week and overall the average home sale was price was back down to under $500K at $491,514 very typical numbers for East Bellevue. There appeared to be no bank owned or short sale homes in this batch of sales.

Like last week the pending sales volume was low at only 3 homes. The average per sq. ft. price was $219 per sq. ft. There was one short sale in this batch of homes. This is a home that had been pending forever; a short sale new construction home so that one is a little suspect. However the important part is not the specific homes but the overall trend line. If you remember in June we saw the market bounce happen when pending sales vome and per sq. ft. prices were higher than the previous week. Now we see a new trend of lower pending sales volume and per sq. ft. pending prices. Looks like we have had a good little bounce and we will level back out at our traditional numbers.

As I said last week I think we are in a “trading” range where volumes and prices will decline until they get at or under $220 per sq. ft. and then we will probably see sales volumes and sales pick up and move us over the $200 per sq. ft. number. Will probably keep trading around this number until we start seeing real growth in the overall economy.

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