These statistics are for area 520 (downtown Bellevue) for the month of March 2008. This includes all residential and condominiums.
|
| |
March 08 |
March 07 |
| New Listings |
25 |
14 |
| Total Active |
158 |
39 |
| % of change total active |
+405% |
|
|
| |
March 08 |
March 07 |
| Pending Sales |
12 |
9 |
| % of change |
+25% |
|
|
| |
March 08 |
March 07 |
| Closed Sales |
12 |
7 |
Avg Price
|
$1,372,653 |
$1,711,078 |
| % Change vs year ago |
-20% |
|
The following are area statistics for downtown Bellevue. A few things to key in on:
Condos only section
Watch as the median price number increases, and the closed sales numbers increase as the new condo buildings (Washington Square specifically) begin to close out units. Those numbers should continue to climb through the next 3 months. The main reason is they shall close floor by floor, (from the bottom up) and units normally get more expensive from one floor to the next. Also watch the pending sales rise. We have not seen a major condo project begin to close since One Lincoln Tower in 2005.
Residential and Condos
We should continue to see a rise in the active listings market as more and more projects continue to add properties, and units to the public. As spring’s quickly approaching look for the amount of resales to increase. While the new presale condo units may go pending but not close out for 6 months to a year and a half.
Residential Only
A glimpse of a few new construction developments can be seen on the eastside, with Cam West coming into town. Their homes are slated to start in the $900‘s this may also cause a rise in the residential listings market.
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