As predicted a number of months ago, the number of homes in Bellevue listed for sale under $500,000 has continued to increase. Today there were 54 single family residences (SFRs) listed for sale here in Bellevue for less than half a million dollars. These are all properties listed on the NWMLS and does include a few townhouses, but doesn’t include the many for sale by owners (FSBO) around town.
I look for this number to continue to increase for some time, as it continues to get tougher to qualify for a loan and prices drop back down to some normalcy.
Has anyone else noticed how many places are for rent lately? Do you think these could be people who thought they’d have sold their properties for huge profits by now? Will the availability of these rental units and many under construction have a lowering effect on rents? Or will the real estate sales slowdown turn a lot of would-be buyers into renters again and cause rents to rise?
If you want to search homes that are on the market, try the new Seattle Home Search site or on the Eastside, check out the place to find Eastside Real Estate for sale.
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