May 7, 2013

Bellevue Homes: Plenty of New Listings, Short Time on Market

While many potential home buyers in Bellevue are feeling the squeeze of the fast-moving real estate market, it should be noted that there are plenty of new listings coming on the market every week.  In fact, there are just as many new listings this month as there were a year ago, and two years ago at this time.

New Listings On The Market, Bellevue, By Month

Bellevue new homes

As the statistics from the NWMLS show, Bellevue peaks at about 190-200 new listings/month in the late spring, and hits bottom every December at around 50-60 listings/month.  There is a slight downward trend over the past three years, but it's fairly insignificant.  The takeaway for buyers is that there are a healthy number of new homes to visit every week.

The larger issue for many buyers is the total time on the market.  20 to 30 percent of all homes listed in Bellevue are being sold in the first week.  That creates a lower total of active inventory, even as the rate of new listings continues to keep pace with previous years.  There just aren't a lot of homes to visit that are 30, 60, or 90 day-old listings.  

Aggressive buyer tactics have become normal, and necessary, to buy a home in Bellevue this year.  Buyers who sit on the fence will continue to do so in most cases.  Those that are going to visit a property with their agent the first day on the market, instead of waiting for an open house, are the buyers who are writing offers and winning the bidding wars.

See today's new listings in Bellevue and Seattle.

Source: NWMLS - The Northwest Multiple Listing Service did not compile or publish this information.

© SeattleHome.com: - Sam DeBord, Managing Broker, Realtor
Board of Directors, Washington Association of Realtors
Coldwell Banker Seattle: Coldwell Banker Danforth & Associates
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