Eastside Real Estate Sales Statistics, December 2007
The NWMLS stats for the month of December are out and here’s the nutshell summary on Eastside real estate sales:
ACTIVE LISTINGS
In totality the December Eastside sales statistics showed that the number of total active listings on the market was up 64% compared to one year ago. December, 2007 closed with a total of 3,543 active condo and single family houses (SFH) on the market. The number of SFH listings was up by 50%, while condo listings continued to flood the market with 116% more listings than in December of 2006.
CLOSED SALES
The number of closed Eastside sales during the month of December declined by roughly 36% in total and for the condo and SFH markets individually. Overall, the median price of an Eastside property fell 3% this to December to $500,000, from the $513,495 of December 2006. Likewise, the median price of Eastside condos was also down narrowly (1%) from $313,725 last December to $310,000 this current December. However, the median price of Eastside SFHs actually increased by 1.64% from $579,975 one year ago to $589,500 today.
NOTABLE DECEMBER EASTSIDE SALES STATS BY MLS AREA
- Area 510 (Mercer Island). Overall area 510 performed relatively strongly during the month of December, with the number of closed sales down by only 7.41% and a medican price increase noted of 12.25%, rising from $825,000 in December, 2007 to $926,000 in December, 2008. There should be no surprise that sales in this region were likely propelled by sales of higher end SFH, with only 3 of the 25 closed sales during the month of December attributed to condos.
- Area 530 (E. Bellevue). Contrary to the overall housing market, December sales in this area were largely characterized with strong condo sales, with the median price increasing by 12.97% as compared to a 4.28% decrease in the median price of SFH. Condo sales in this are comprised slightly over one-third of total closed December sales, thereby resulting in an overall area median price growth of 8.23%.
- Area 560 (Kirkland). This region showed the biggest positive growth (27.15%) in overall median price from one year ago. Again, this growth was characterized by sales of higher end homes, with SFH comprising 72% of total closed sales during the month at median price of $734,975, which is a .75% increase from the same figure, one year ago.
- Area 600 (N. Kirkland/S. Bothell/Woodinville/Duvall). This area demonsrated the largest Eastside increase (21.36%) in the median price of condos sold during the month of December, in addition to healthy growth (14.89%) in the median price of SFH sold. Together these sectors rolled up into an overall area median price growth of 11.29%.
