Jul. 6, 2007 - Kirkland, Bellevue, Redmond $600,000 to $800,000

My best guess here is that condo conversions and new construction generally are in play in this market segment.  Consequently resale is having a harder time competing in the marketplace causing excess inventory to some degree, but not excessively. Sellers will simply need to adjust price based on competition.  The most dramatic difference here is that "in escrow" properties far exceeds a one month supply based on May and June sales.  That is another clue that we are seeing new construction and condo conversions here and the closings for that 179 in escrow will get spread out over 2-3 months of closings or more.