Issaquah:
For the first six months of 2010 average home prices in Issaquah have continued to fall, while the amount of inventory has increased.
Some good news: The coloration between falling home prices and Average days on Market shows that homes are selling quicker this summer than they were earlier in the year. This is most likely due to lower overall home prices along with statistically unprecedented low mortgage rates.
Snoqualmie:
Very similar to Issaquah. Home prices have continued to drop and inventory has climbed to the summer season high point. Days on market to get a sale however have continued to drop. Simply put; If the home is priced properly for the current market, it will sell!
Sammamish:
Sammamish has done fairly well for 2010 in keeping prices nearly stable for the first six months of the year even as inventory seasonally climbed. The average Days on Market for Sammamish have also dropped from nearly 240 days to under 150 to sell.
Bellevue:
Bellevue as a whole which is a mix of neighborhoods and sub-communities has seen continued drops in home price along with added inventory. While the average days on market have come down, sellers are still looking at a nearly six month average time frame to find a sell. Not good news in a market with continually falling prices. Six months can cost from 8 to 10% in home value, so for a $600,000 home we are talking up to a $60,000 loss in home value during the marketing period.
Nice graphs. The recession has hit the world really hard which has affected the bank interest rates. The Bank's should step up and save the world from the current situation
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