Home Prices in Bellevue Wa for December 2012

We have seen 11 straight months of pending price increases on home prices in Bellevue.  In Bellevue and on the Eastside 2012 had the most pending sales since 2005 and the 4th highest over the last 15 years of data we have available. 

The average month’s supply of inventory for 2012 of 2.0 ties 2005 as the lowest in the last 15 years for which we have data available. 

Lowest active inventory at the end of December 2012 that the market has seen in the last 15 years of data we have available. 

 

 

The Median closed price in December for single family homes in Bellevue is $526,455.  The closed price increased by 4% from 2011.

 

The total number of active listings were 957.  This was down from 2011 which had 1,768 actives listings in just one year.  A 46% decrease.  But what does that mean to me?  It means LESS supply!  

 

The Total number of closed sales for December 2012 was 7,287.  This is up 22% from December 2011.  Bottom line, there is very little homes for sale, buyers are still buying, and prices are rising!