Bellevue Lake Hills Market Update 2017 October

Here’s a quick snapshot of Bellevue’s Lake Hills market this month
Median Price: $700,000 (+22% from last year)
New Listings: 11 homes (-39%)
Sold Homes: 7 homes (-36%)
Months of Inventory: 0.7 months (+0.2 months)
Average Sold Price: $715,000 (+19%)
Average Active Price: $1,077,000 (+30%)
Average $/SF Price (Sold): $403/SF (+20%)

Median Price is holding out at $700,000 – a slight decrease from prior month’s of $745,000 which is not uncommon during this time of year. In contrast, the average price per square foot is at $403/SF up 4% from prior month and a 20% increase compared to last year.

Months of Inventory has increased slightly (+6 days) to 0.7 months which indicates it is still quite the sellers market (3 to 6 months is considered a balanced market).

Average Price per Square Foot based on sold homes has also increased to $403/SF the third highest point in the last 12 months.

Recently Sold
$790,000  | 2553 156th Ave SE, Bellevue WA 98007 4 Bedrooms 2.25 Bathrooms 1,710SF

$615,000  | 1605 164th Place NE, Bellevue 98008 3 Bedrooms 1 Bathroom 1,100 SF

$650,000 | 1718 146th Ave SE, Bellevue 98007 4 Bedrooms 2 Bathrooms 1,840SF

Statistics and data courtesy of NWMLS & Windermere Statistics

Posted on October 20, 2017 at 7:40 am
Teck Chu | Category: Bellevue Lake Hills | Tagged

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