Bellevue Condo Inventory June 4, 2007

Today there are 143 Bellevue condos listed for sale on the NWMLS.   This is up from the  130 that were on the market on May 27th.  Listing prices are $210,00 to $3,550,000, with the average being a whopping $481,308 and the mean at $362,400.

It should be interesting to see what happens to the condo market in the coming months.

History has shown that the condo market takes the worst hit when a real estate market begins to slow, but there are some factors that will probably have an effect on the local market.  There are many projects here in Bellevue that will be coming on line in the next couple of years, which will add to available inventory, which could theoretically lower prices.

At the same time, there are also commercial projects that are scheduled to come on line with lots of office space (and employees to work in those offices).  Those office workers are all going to need to live somewhere - and I hope that they choose to live close to where they work so they do not add to our already severe traffic problems.  Perhaps they will be moving into the city and buying up all these condos - but if that is the case, will they be selling their homes in the outlying areas???

This entry was posted on June 4, 2007 at 1:23 pm and is filed under Condos, Statistics, Bellevue, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.