Greg & Brian Perry, Working-for-you

Vegetables, fruits and flowers. Every week we see them laid out in beautiful displays in the supermarket grocery stores.

But there's something special and satisfying about buying produce and flowers from the small, local growers in a local farmer's market. They seem fresher....we're supporting small grower....more care and organic methods are used.

Farmer's Markets are alive and well on the Eastside. Spring marks the opening of these markets all across the Eastside. Here's a list of a Farmer's Market near you!

Bellevue Farmers Market
1717 Bellevue Way N.E.
Thur. 3pm-7pm: May 15-October 9

Carnation Farmers Market
SR 203, Tolt Ave. & Bird St.
Tue. 3pm-7pm: May 13-September 30

Crossroads Farmers Market (Bellevue)
156th Ave. N.E. & N.E. 8th St.
Tue. Noon-5pm: May 27-October

Issaquah Farmers Market
1730 10th Ave. N.W.
Sat. 9am-2pm: April 12-October 11

Kirkland Wednesday Market
Park Lane E.
Wed. Noon-6pm: May 7-October 15

North Bend Farmers Market
Si View Park, 400 SE Orchard Dr.
Thur. 4pm-8pm: June 26-September 11

Redmond Saturday Market
7730 Leary Way
Sat. 9am-3pm: May 3-October 25

Snoqualmie Farmers Market
Maple & SR 202
Sat. 10am-2pm: June 7-September 27

Woodinville Farmers Market
Hwy 202 & Woodinville-Redmond Rd.
Sat. 9am-4pm: May 3-October

By Greg Perry
Eastside Realtor

By Greg Perry
Eastside Realtor
NWMLS Area 530, East Bellevue has improved from a Buyer's advantaged market to a BALANCED market. Residential absorption rates averaged over the last seven weeks show that 530 is holding 23.7 weeks of inventory. The last 3 weeks have shown strong inventory absorption, especially in the lower price ranges.

Like other Eastside areas, high end homes (over $900,000) continue to be soft. In the last 7 weeks, there were only 3 sales in the price range above $900,000 out of an average of 55 ACTIVE listings. Nothing in this area over $1.5 million sold during this period. Area 530 is holding approx 75 weeks of inventory above the price tag of $900,000.

Inventory below $600,000 has improved to 19.7 weeks of inventory putting this price range closer to becoming a Seller's advantaged market.

1-12 weeks = Sellers advantaged market
12-24 weeks = Balanced Market
24 weeks + = Buyers advantaged market

Download 530_absorption.pdf

Statistics compiled from but not verified by NWMLS.

By Greg Perry
Eastside Realtor

In March, the WSDOT demolished the Paragon Hotel to make way for a freeway overpass to be located on NE 10th Street in Bellevue.

Built in 1969, you may have also known the Paragon as The Thunderbird Motor Inn, Red Lion, Doubletree Hotel and Ramada Inn.

Check out this video:

Redmond Real Estate Statistics
By Greg Perry, Eastside Realtor

Residential Absorption Rates, averaged over the last 7 weeks, show that NWMLS area 550 (Redmond/Carnation) is holding 30.5 weeks of inventory. (300.4 Active listings vs. 9.9 Pending sales).

For homes priced over $1,000,000 during this period, there are 63.8 Active homes with a sales rate of 0.7 Pending sales per week. This means in the above $1,000,000 inventory has 91 weeks of inventory.

Homes under $1,000,000 show an average of 236.6 homes with 9.2 selling per week for 25.7 weeks of inventory.

Lower priced homes in Area 550 are rapidly absorbing, yet at the same time inventory in the high end is increasing. (25.7 weeks under $1,000,000 vs. 91 Weeks over $1,000,000)

Here is the breakdown by price range, averaged over 7 weeks:

0-12 weeks = Seller's advantaged market
12-24 weeks = Balanced Market
24 weeks + = Buyer's advantaged market

$0 - $299,000 4.4 Active 0.3 Pending per week 15.5 Weeks Inventory
$300,000 - $399,999 7.3 Active 0.4 Pending per week 17.0 Weeks Inventory
$400,000 - $499,999 34.3 Active 1.6 Pending per week 21.8 Weeks Inventory
$500,000 - $599,999 39.4 Active 1.9 Pending per week 21.2 Weeks Inventory
$600,000 - $699,999 44.6 Active 1.4 Pending per week 31.2 Weeks Inventory
$700,000 - $799,999 43.3 Active 1.9 Pending per week 23.2 Weeks Inventory
$800,000 - $899,999 38.9 Active 1.6 Pending per week 24.7 Weeks Inventory
$900,000 - $999,999 24.4 Active 0.1 Pending per week 171.0 Weeks Inventory
$1,000,000 -$1,499,999 34.4 Active 0.6 Pending per week 60.3 Weeks Inventory
$1,500,000 -$1,999,999 12.3 Active 0.1 Pending per week 86.0 Weeks Inventory
$2,000,000 -$2,499,999 7.1 Active 0.0 Sales
$2,500,000 -$2,999,999 7.0 Active 0.0 Sales
$3,000,000 -$4,999,999 3.0 Active 0.0

Overall, in the last 7 weeks, there has been only 1 (one) sale for homes priced above $1.5 million.

Overall a couple of factors hurting high end sales are the lack of good jumbo loan products (which currently is starting to correct) and relocating, out of state buyers who are having a hard time selling their homes in California and other areas across the country to be able to make a purchase.

Kirkland Absorption Rates
By Greg Perry, Kirkland Realtor

Every week, I watch the ratios between ACTIVE inventory and the homes that go PENDING. This sales ratio is commonly called the absorption rate. If we track this absorption rate weekly we can break this down to a simple number -- how many weeks it will take for the inventory to sell at the current rate of sale.

After seven weeks, we average the data to level out the weekly inconsistencies. This gives us a powerful way to track the market and to see instant trends.

We can then categorize the market as a Seller's advantaged market (0-12 weeks), a Balanced market (12-24 weeks) or a Buyer's advantaged market (24 weeks +).

In the 7 week period that spanned 1/23/08 - 03/05/08 (these numbers are run Thursday through Wednesday each week), NWMLS Area 560, Kirkland/Bridle Trails held 36.8 weeks of inventory. The previous 7 week period 12/25/07 - 1/16/08, Kirkland held 51.9 weeks of inventory. Overall, Kirkland's absorption has improved by 15 weeks.

Overall Kirkland is holding more about 30 more homes, however the rate of sale has improved.

Homes under $900,000 are showing the greatest improvement in absorption. The price range of $800,000 to $899,000 had the largest improvement moving from 303 weeks of inventory to 88.5 weeks.

For the current period, homes over $2,000,000 are sluggish with only 2 sales in 48 ACTIVE LISTINGS where we're actually seeing inventory building. Overall Kirkland is holding 146 properties priced over $1,000,000 (out of 395).

KIRKLAND ABSORPTION RATES 12/5/07 THROUGH 1/16/08

KIRKLAND ABSORPTION RATES 1/23/08 THROUGH 03/05/08

Information compiled from but not verified by NWMLS