Eastside & Seattle Market Absorption Rates
By: Tony Meier
Eastside & Seattle Realtor
This week we will be looking at the Residential market absorption rates for the Eastside over the last 7 weeks. When looking at these numbers, keep in this in mind:
1. These are an average of the all price ranges in the area. Some price ranges are definitely moving faster than others! If you would like to know how things break down in a specific price range for an area, send me an email at tony@eastsidehomes.com
2. These numbers are a result of the sales activity over the last 7 weeks when comparing the number of active listing vs. the number of pending sales to determine what the market absorption rate is for a particular area.
3. When measuring the heat of the market, the following rules apply:
a. 12 weeks or less = Seller’s Market
b. 12-24 weeks = Balanced Market
c. 24 or more weeks = Buyer’s Market
All areas except 600 showed improvement from 4 weeks ago. The majority of this improvement is shows up in the homes priced at 599k or below.
Residential Only, NWMLS Area 500 (Bellevue, South of I-90) = 32.1 weeks of inventory (was 40.8 four weeks ago)
Residential Only, NWMLS Area 510 (Mercer Island) = 37.2 weeks of inventory (was 60.5 four weeks ago)
Residential Only, NWMLS Area 520 (Bellevue, West of 405) = 58.3 weeks of inventory (was 66.9 four weeks ago)
Residential Only, NWMLS Area 530 (Bellevue, East of 405) = 23.7 weeks of inventory (was 31.5 four weeks ago)
Residential Only, NWMLS Area 540 (East of Lake Sammamish) = 29.4 weeks of inventory (was 30.9 four weeks ago)
Residential Only, NWMLS Area 550 (Redmond/Carnation) = 26.1 weeks of inventory (was 34.2 four weeks ago)
Residential Only, NWMLS Area 560 (Kirkland/Bridle Trails) = 36.2 weeks of inventory (was 39 four weeks ago)
Residential Only, NWMLS Area 600 (Juanita/Woodinville) = 36.1 weeks of inventory (was 36 four weeks ago)
If you have any questions on this information, I welcome you to email me at tony@eastsidehomes.com
Posted By:
Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle’s Eastside Real Estate Resource
tony@eastsidehomes.com
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