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
Another mixed bag this week, with only slight declines or improvements. Area 520 showed the most improvement, but with over a year of inventory at current absorption rates, the Buyer’s are still in control.
Residential Only, NWMLS Area 500 (Bellevue, South of I-90) = 41 weeks of inventory (was 43.2 four weeks ago)
Residential Only, NWMLS Area 510 (Mercer Island) = 32.7 weeks of inventory (was 26.8 four weeks ago)
Residential Only, NWMLS Area 520 (Bellevue, West of 405) = 57.4 weeks of inventory (was 79.4 four weeks ago)
Residential Only, NWMLS Area 530 (Bellevue, East of 405) = 26.7 weeks of inventory (was 23.4 four weeks ago)
Residential Only, NWMLS Area 540 (East of Lake Sammamish) = 32 weeks of inventory (was 30.9 four weeks ago)
Residential Only, NWMLS Area 550 (Redmond/Carnation) = 30.7 weeks of inventory (was 32 four weeks ago)
Residential Only, NWMLS Area 560 (Kirkland/Bridle Trails) = 63.5 weeks of inventory (was 51 four weeks ago)
Residential Only, NWMLS Area 600 (Juanita/Woodinville) = 39.9 weeks of inventory (was 35.9 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
Leave a Reply
You must be logged in to post a comment.