Uncategorized October 20, 2017

Bellevue, WA Real Estate Update

If you have been thinking of buying or selling real estate in Bellevue, WA, knowing what is happening in the local market is crucial. As a seller, you get an idea of how long, on average, your home could sit on the market, what a good list price is as well as the square footage costs. As a buyer, you can feel confident that you made a competitive offer as well as have a good idea of what you could spend on real estate in Bellevue, WA. In a market that has low inventory like this area, the more you know, the better chance you have at not only finding that dream home, but also having your offer accepted. Another great way to achieve real estate success is by aligning yourself with a Bellevue, WA realtor. So how is the local market doing? Let’s take a look at the numbers!

The average sold price for Bellevue, WA homes for sale is up 21.7% at $773, 793 while the median sold price is up 19.2% at $715,000. The average price per square foot is up 18.3% at $381 while the average percentage of list price is 105.9%. As a seller, this is all good news. It basically means that the value of your real estate in Bellevue, WA is likely up. Of course working with a Bellevue, WA realtor who can give you a tailored market report based on your Bellevue, WA real estate can confirm this. The percentage of list price is also a good indicator of your negotiation power. As a buyer, it gives the heads up that not only is the average Bellevue, WA real estate getting full price, they are getting over asking. New listings are down 4.5%, homes for sale are down 25.9%, pending sales are down 1.4% and closed sales are up 0.6%. The average days on market is 16 while the median is 7. This means homes for sale in Bellevue, WA are not only getting offers, but they are getting offers quickly. Which is no surprise given that the month supply for Bellevue, Wa real estate is less than 1 at .80! Now more than ever, it is important to work with a qualified Bellevue, WA realtor. Whether you are buying a home for sale in Bellevue, WA or listing one, having a local expert help navigate you through the process will help you achieve success. For more information, give me a call. I would be happy to help!