Oct. 12, 2009 - Bellevue School District Home Prices

Somewhat like North Seattle, short sales and bank-owned property sales in the Bellevue School District are actually pulling the prices up vs. down. But for a different reason. The predominance of higher end homes in this district are causing the distressed properties to fall disproportionately toward the most or more expensive homes.

The median asking price of homes for sale in Bellevue School District is $899,000, but the median sold price is $563,500 for 3rd quarter 2009. Let's look at the median price per square foot of the homes sold.

Now let's see how sales volume contributed...or not...to price changes. My observation here is that Bellevue School District has dropped in price by 31% from top to "bottom"...much  more than King County as a whole, due the the fact that many homes for sale are not affordable by the buying population at this point.

The stock market woes of early 2009 likely had more to do with these volume changes than the $8,000 homebuyer credit.  So I don't expect the expiration of that credit to dramatically impact home sales and home prices in Bellevue School District. Just the normal 4th quarter cyclical change.

(Required Disclosure: Statistics are not compiled, verified or posted by the Northwest Multiple Listing Service.)

Oct. 12, 2009 - RE: Bellevue School District Home Prices

Good points, Bellevue is much more likely to be affected by investments and the financial markets than minor government giveaways.  The total number of bank-owned homes on the market in Bellevue is almost comically low compared to a lot of cities.

Oct. 19, 2009 - RE: Bellevue School District Home Prices

Very informative post of yours. Bellevue is really getting affected by the investments ans the financial markets.