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Good price / sq ft on Eastside?

damoydamoy
edited October 2007 in Seattle Real Estate
Hey, I was wondering what you guys think a decent price per sq ft is in the Bellevue, Redmond, Issaquah area. I'm seeing alot of listing near $200 / sq ft , and I remember that this about the price when I was looking in 2004. Do you think prices will drop much lower than this?

Comments

  • AlanAlan
    I think prices will drop as long as the months of supply (inventory / monthly sales) is above three.

    Be aware that this MOS can change rapidly though. From August to September the MOS for King County went from 4 to 7. It could flip back just as easily.

    Also, the MOS may be different in B/R/I than in the rest of KC.
  • rose-colored-coolaidrose-colored-coolaid
    damoy wrote:
    Hey, I was wondering what you guys think a decent price per sq ft is in the Bellevue, Redmond, Issaquah area. I'm seeing alot of listing near $200 / sq ft , and I remember that this about the price when I was looking in 2004. Do you think prices will drop much lower than this?

    I want to second your question. It would be really valuable to know what average prices per sq ft has been in different regions of King County since say 1995.
  • UbersaladUbersalad
    pre-2000 shouldn't be a valid comparison, considering the interest rate back then.
  • damoydamoy
    In 2003 I was looking, and I thought that 250K for 1500 sq ft was too expensive (grrr =).


    In 1992 my dad bought a 1700 sq ft house for 180K in Bellevue. He sold it for 280K in 2000. In 2004, that house was for sale for $325K (I could have bought it but association fee was $300+ per month). Right now it is for sale right now for 535K.
  • UbersaladUbersalad
    where is this house, what neighborhood/zip code?

    For a house to sell at 535k in Bellevue, it has to be around the 98007/98008 neighborhood. But at the same time, for it to cost 180k in 1992, that's a bit expensive for house in that neighborhood at that time.

    I wish I have bought at least 10 homes in West Bellevue during 2002-2003...I would be mega rich now selling them to builders.
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