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Tuesday, February 16, 2010

Bellevue, Issaquah & Snoqualmie Real Estate Trends 2010

Real Estate Market Chart by Altos Research

All three cities have seen a continued drop in prices over the past 9 months, however the rate of decline is beginning to slow. Days on market for Snoqualmie and Issaquah while still high, have begun to turn the corner as well. Bellevue is still seeing an increase in days on market, but that is largely driven by the higher end homes. It is still very hard to finance and purchase homes above $1,000,000 even when they are in foreclosure and much reduced from past levels.

Overall, homes under $450,000 are seeing a significant uptick in activity as many buyers are taking advantage of changing FHA laws and the expiring tax credits. Homes between $450k and 700k are also seeing activity pick up, however many of these homes were selling for $700 to 900k in the past few years and this is where we find the greatest concentration of "Short Sales"

If you have any questions about your home or neighborhood in particular feel free to call, and one of our agents can provide you with more exact date for your specific neighborhood and home.

Real Estate Market Chart by Altos Research

Real Estate Market Chart by Altos Research

See SOLD Home data for any Washington State neighborhood: HERE

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