Local inventory up; buyers, sellers prep for spring

By Erin Flemming

Special to the Reporter

If you’re looking to purchase a home this winter or spring, you’ll likely benefit from the uptick in inventory at all price levels in the Bellevue area. Julia Nordby, office leader and business coach of John L. Scott’s Bellevue-main office, said many buyers in February appreciated the options and the less hurried pace in the local market.

In Bellevue, there were 326 homes for sale in February 2019, which is up from the 184 homes for sale in February 2018. When looking at months of inventory in Bellevue, the city had 1 month of inventory in February 2018, and a year later we are at 1.9 months of inventory.

Nordby said these numbers are encouraging and a move toward a balanced market, though multiple offer situations are still a possibility for well-priced homes in certain areas.

“When we’re looking at months of inventory in Bellevue, we’ve essentially gone from one month to two months,” Nordby said. “We’re still in a seller’s market, though pressure has eased off a bit. The Bellevue market went in like a lamb but out like a lion in February – capped off with several multiple-offer situations reported by our brokers the last weekend of the month.”

Bellevue was hit with multiple inches of snow in February, which led to school and business closures affecting many residents. Though snow did slow things down a bit, Nordby said the local real estate market wasn’t brought to a complete standstill due to the weather.

“Not a lot of new listings went on the market during the snowy days in February,” Nordby said. “However, people were looking online and motivated buyers were out and about – our brokers with four-wheel drive vehicles heard from buyers who still wanted to look at houses. Once the snow started to melt, the second half of the month took off, with extremely busy open houses and multiple offers on homes in some cases.”

As the snow has melted and temperatures increase, many homeowners are looking to do a bit of spring cleaning and home improvement. Some spring cleaning and repairs can translate to a higher return on investment when homeowners do decide to sell. A recent report from ATTOM Data Solutions detailing year-end sales numbers for 2018 noted that the highest profits from home sales are in the west, with an average return on investment in Seattle of 70.7 percent.

Regular home maintenance, like a regular car tune-up, is crucial for ensuring your home stays in good shape and needed repairs don’t become daunting. Though many homeowners may not have the time (or cash) to complete all of the repairs and upgrades they’d like to do to their house, prioritizing certain upgrades can pay off in the long run.

“When you’re looking to sell your home, carpet and paint investments are great to focus on first,” Nordby said. “Kitchens, bathrooms and landscaping are also good areas to update and improve. Properties that are seen as turnkey will be highly valued by many buyers. We recommend thinking about the upgrades that fit within your budget and will truly make your house stand out in the marketplace.”


In consideration of how we voice our opinions in the modern world, we’ve closed comments on our websites. We value the opinions of our readers and we encourage you to keep the conversation going.

Please feel free to share your story tips by emailing editor@bellevuereporter.com.

To share your opinion for publication, submit a letter through our website https://www.bellevuereporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) We reserve the right to edit letters, but if you keep yours to 300 words or less, we won’t ask you to shorten it.

More in Business

File Photo
LA Fitness to reopen all locations Aug. 10

Gyms will follow state guidelines

BMW X3 xDrive 30e. Courtesy photo
BMW X3 xDrive 30e | Car review

With forces like BMW pushing, it’s only a matter of time before… Continue reading

2020 Dodge Charger Hellcat SRT. Courtesy photo
2020 Dodge Charger Hellcat SRT | Car review

OK folks, buckle your seatbelts. This week’s tester is the 2020 Dodge… Continue reading

A new measure from the King County Council could increase flexibility for businesses in rural areas of King County. File photo
County measure would increase flexibility for businesses in rural areas

Staff report Legislation the King County Council passed June 23 could lead… Continue reading

Snoqualmie Casino is located at 37500 SE North Bend Way, Snoqualmie. Courtesy photo
Snoqualmie Casino reopens June 11 with social distancing, other safety measures

Staff report Snoqualmie Casino will reopen to the general public at 6… Continue reading

Like similar businesses across King, Snohomish and Pierce counties, Bothell restaurant Hana Sushi closed due to public-health concerns. Sound Publishing file photo
Inslee changes course, says diners won’t have to sign in

Restaurants may still ask customers for information that contact tracers could use to stop an outbreak.

Construction worker installs siding to a building in Snoqualmie. File photo
Inslee gives construction a green light

It was unclear when sites would re-open, but employees will have to have PPE and stay six feet apart.

Report shows severity of COVID-19 impacts on hotels nationwide

70% of employees laid off or furloughed, eight in 10 hotel rooms empty

State processes record number of applications for unemployment benefits

Employment Security Department had challenges with the volume