East Side Update: Somerset and Bridle Trails Are Popular

Loren Ellingson, the top buyers’ agents in King County, is seeing a lot of activity in Somerset and Bridle Trails on the East Side.

A lot of people are touring and making offers in Somerset and Bridle Trails right now. Most of these buyers are looking at homes priced above $750,000. Buying a home in these neighborhoods can be tricky because it’s hard to determine the market value of a property — each home is unique, so it’s hard to find comparable homes among recent sales. You need to make sure your agent is pulling the most recent comps when making an offer.

Only 22% Of Offers Are On Homes With Multiple Bids

In July, our Seattle-area agents presented 122 offers and just 27 of them, or 22%, were on homes with at least one other offer, down from 30% in June.

“On the East Side we’re just not seeing many multiple offer situations,” says Loren. “Most homes with multiple offers tend to be bank-owned homes that have been aggressively priced to attract a lot of buyers.”

What are you seeing on the East Side?

  • Ben

    I am seeing nothing moving on Education Hill in Redmond. A lot of stalled developments there too.

    I am also seeing that the asking prices from the builders and the prices in the parcel viewer have a pretty big delta. I am not sure why the builders are not listing at the prices that they sell at.