Bellevue WA Real Estate Statistics for February 2012 [Video]

Bellevue Home Trends and Values.  Learn where the market is  going, what is affecting King County Home Prices and why. Let’s see what the numbers have to say!!

A class on WA Real Estate Statistics  where we dove into Bellevue Real Estate Statistics and the  market.  How the  market is being affected by Bank Owned Properties,  Short Sales,  the Economy, etc.  and When did King County Real  Estate Peak?

Graphs and Pictures Used in Presentation:

Bellevue WA Statistics and Trends Video:

 Transcript:

Hey, what’s going on everyone? Anton Stetner here with the Real Estate Solutions Group. Today we are here to provide you with the residential real estate statistics for Bellevue, Washington, for February 2012. We’re going to go over first what’s going on in that residential market there in Bellevue. Second, we’re going to go over what’s been going on in that condo market there in Bellevue.

Here in Bellevue, the average of what has been selling has been a 4 bed, 2.26 bath, and 2,546 square feet. There were 69 homes that had sold in February. They were on the market for an average of 57 days. DOM being days on market. The average sales price was $598,062 for a total of $41.3 million in sales, just rocking it.

February versus February, so we compared February the averages to the averages in February 2011. Our average sales price here in the city of Bellevue was down 6.2%. However, when we look at it on a little bit more broad spectrum when we’re talking year-to-date, because remember markets do move up and down, year-to-date 2011 average price now approximately 1% with sales down 16%. The sales being down 16% that it is a real number, but the 1% right here that’s pretty much negligible. You can say the market is flat.

Now, let’s go into the condo market. It’s kind of actually a different story in the condo market versus the residential market. The condo market here in Bellevue averaging 2 bedrooms, 1.35 baths, for 1,154 square feet. What’s interesting though is you had only 49 condo sales, and they were on the market for 133 days. What’s that tell you? It tells you basically your condos in Bellevue are selling for less and that they’re on the market longer. There were fewer condo sales. The average price there was $296,544, for $14.5 million worth of sales in February. What’s interesting is when we compare February of this year to February of last year, the average sales price down 28.1%. Huge drop there, but sales overall February versus February up 16%. I think our year-to-date numbers actually spell a little bit different story and show you a little bit better example of what’ s actually going on. Year-to-date in February, your average price was down 9.8% in the local condo market, and your sales were almost flat. In other words, they were almost exactly the same as they were last year.

If you guys have any thoughts and comments or questions about Bellevue real estate, Bellevue real estate statistics, or what’s been going on with the local market or inside of a specific neighborhood, just leave us a thought and comment below, or shoot us a phone call, email, text message, or smoke signal, flare, little paper airplane, whatever works for you guys. Anyway, I’m Anton Stetner. Thanks for your time.

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