I thought this was an interesting chart. It looks at the last two years of Downtown Bellevue condo pricing and inventory.
Here is a basic breakdown on what the chart is showing us:
Median price in December of 2008 was approximately $650,000 per unit
Now, that same unit has a median price of approximately $445,000!
In December of 2008, inventory was at about 214 units, peaking at 263 in July of 2009, dropping as low as 174 during the momentum of the tax credit and now sits at about 194 condos on the market. As you will notice, the inventory in September 2010 started to move down & you’ll see the immediate impact of the Bravern during the month of October.
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