Debra Sinick

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Weekly Real Estate Buzz in Redmond, Near Microsoft, 2-8-10

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on February 8, 2010 at 10:52 pm

Redmond is back on top for having the best odds of selling a home on Seattle’s eastside! I’ll be publishing the monthly statistics for January’s real estate sales in Redmond in the next few days, but thought I would pass along the “hot” news.

This past week there were some Redmond home sales that “popped” within a week of going on the market.  One home had been on the market last year, did not sell then, and sold in less than 7 days this year.   Of the three homes that got offers this week, two were on the market a week or less!  

There are only 81 days left to find a home, have an offer accepted, and use the  2010 home buyer tax credit.

For this week’s full report see below:


View Larger Map

In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center and is not part of this report.  The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered on Monday morning from NWMLS (Northwest Multiple Listing )information.

Number of homes for sale: 44 (45)

New listings: 2 (2)

Pending inspection:3 (3)

Pending: 4 (2)

Closed Sales: 2 (1)

Price Reductions: 2 (3)

Price Increases:0 (0)

Off The Market (not sold)  3 (3)

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$0-$349,999: 3 (3)

$350,000-$499,999: 11 (13)

$500,000-$749,999: 17 (17)

$750,000-$999,999: 4 (4 )

$1,000,000- $1,499,999: 5 (5)

$1,500,000- $2,999,999: 2 (2)

$3,000,000+ 2 (1)
———————————–
Average Asking Price of Homes for Sale: $888,795 ($769,047)

Median Asking Price of Homes for Sale: $632,000 ($619,000)

Average Days on Market: 127 (128)

Highest Priced Listing: $4,925,000 ($4,280,000)

Lowest Priced Listing: $279,000 ($279,000)

New listings: two this week. 

Pending inspections and pending: Three homes received offers.  Four homes are now pending, which means the buyer and seller have agreed on the results of a home inspection and are now moving towards closing.

Price reductions: three this past week.

Homes off the market (homes that did not sell) Three homes are off the market.

Closed home sales: Two homes this week

Days on Market: Similar to last week at 127 days.

Median price: jumped up about $100,000 because of the new listing on the market priced just under $5,000,000.


Closed Sales Of The Week:

$380,000 last asking price of $385,000, original asking price of $385,000, sold in 5 days for 1.5% below the original asking price.

$708,000, last asking price of $675,000, original asking price of $675,000, sold in 5 days for 5% above the asking price.


Peak of homes for sale in 2009:

7-27-09   13,861

Now:

2-8-10  11,102

The number of homes for sale in King County is doing its typical heading to spring “creep up.”  There’s an increase of over 1000 homes for sale in King County since the first of the year.  There’ s still a good number of homes and condos for sale, but not an overwhelming amount.


Weekly count of King County homes 2-8-10

Number of King County Homes and Condos for Sale, 2-8-10


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The Hot Price Range for Redmond/East Bellevue Home Sales, 2-3-10?

In Bellevue real estate, For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond on February 5, 2010 at 12:19 am

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

  • Most number of home sold: $300-399,999 5 homes sold.
  • Is this the new hot price for Redmond home sales?  In 5 out of 7 weeks, the $300-399,999 has been the hottest.
  • Most number of homes for sale: $300-399,999     44 homes for sale.
  • Again, are we going to see more Redmond homes for sale in the $300-399,999 price range this year?
  • All of this week’s East Bellevue and Redmond homes sales were priced below $899,999.
  • There were 211 homes for sale and 14 homes sold in East Bellevue and Redmond, near Microsoft, last week.
  • Best week to sell your home in the last 7 weeks?    1-27-10 with 26 home sales.
  • Most homes for sale in the last 7 weeks?       12-23-09, when 233 homes were for sale.
  • Peak of the number of homes for sale in King County in 2009?
  • July 27th- a high of 13,861 homes for sale.
  • Week of 1-18-10
  • 10,735,  last week there was a slight drop with 8 less homes on the market in King County.  But there are still 1000 more properties for sale in King County than the first week of the year.

There ’s only 84 days for buyers and sellers to benefit from the home buyer tax credit. There are some terrific homes out there for buyers.  For sellers there’s still less competition than there usually is to sell a home in Redmond and East Bellevue.  Add this to the still strong interest rates, and the 2010 home buyer tax credit, and it looks like the first quarter of 2010 may be the best time this year to either buy or sell a home.    Serious buyers are out looking to find a home that’s a good value with the added bonus of the tax credit.  I think this real estate market is a win-win situation for both buyers and sellers.

Redmond and East Bellevue Home Sales, 2-3-10
This chart is updated weekly by (Windermere Real Estate/East Inc., using MLS data to show the price ranges of the homes sold each week.

Here’s how it’s set up:

The colors show who has the advantage in a particular price range.

  • Green means the buyer has the advantage with many homes to choose from and not that many selling.
  • Yellow means the number of homes for sale and the number of sales in the price range is balanced between the buyer and the seller.
  • Red indicates a sellers’ market where the seller may have the advantage as more homes are selling when compared to what’s available.

Down the side of the chart, the home sales activity is broken down into a price bracket of $99,999. All the homes priced between $400,000-499,999, as an example, are put together in one price category in the chart.

Across the top, the chart is broken down into real estate activity by the week.

If you take the $400-499,999 line and follow it across the chart, you’ll see what has happened each of the last seven weeks.  There are three columns under each week. On the left side of the column is the number of homes for sale in East Bellevue and Redmond, near Microsoft.  The middle column shows how many homes sold that week, and the final column under the date shows the months supply of homes for sale.  In other words, if no other homes came up for sale, it would take 3.7 months to sell all of the homes in the $400-499,999 price range.



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Weekly Real Estate Buzz in Redmond, Near Microsoft, 2-1-10

In For Buyers, For Sellers, Real Estate news, Redmond, Weekly real estate updates on February 1, 2010 at 5:20 pm

The first 31 days of 2010 are gone. They’ve been busy days in the world of real estate.  There have been several homes in the Microsoft area of Redmond that have sold in a matter of days. Because of the 2010 home buyer tax credit, low interest rates, and and reasonable number of properties available, there’s pent up demand for the good homes that are a also a good value.

For this week’s full report see below:


View Larger Map

In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center and is not part of this report.  The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered on Monday morning from NWMLS (Northwest Multiple Listing )information.

Number of homes for sale: 45 (47)

New listings: 2 (3)

Pending inspection:3 (5)

Pending: 2 (1)

Closed Sales: 1 (2)

Price Reductions: 3 (1)

Price Increases:0 (0)

Off The Market (not sold)  3 (1)

———————————

$0-$349,999: 3 (4)

$350,000-$499,999: 13 (13)

$500,000-$749,999: 18 (17)

$750,000-$999,999: 3 (4 )

$1,000,000- $1,499,999: 5 (6)

$1,500,000- $2,999,999: 2 (2)

$3,000,000+ 1 (1)
———————————–
Average Asking Price of Homes for Sale: $769,047 ($779,116)

Median Asking Price of Homes for Sale: $619,000 ($619,000)

Average Days on Market: 128 (117)

Highest Priced Listing: $4,280,000 ($4,280,000)

Lowest Priced Listing: $279,000 ($345,000)

New listings: two this week. 

Pending inspections and pending: Three homes received offers,from the 300’s up to the high 700’s.  Two homes have pending offers, which means the buyer and seller have agreed on a building inspection and are now moving towards closing.

Price reductions: three this past week.

Homes off the market (homes that did not sell) Three homes are off the market.

Closed home sales: one this week

Days on Market: Starting to creep up as it is now 128 days.

Closed Sale Of The Week:

$445,000 last asking price of $469,800, original asking price of $469,800, sold in 53 days for 6% below the original asking price.

Peak of homes for sale in 2009:

7-27-09   13,861

Now:

2-1-10  10,735   an increase of over 1000 homes for sale in King County since the first of the year.  This week, there are 8 less properties  for sale.  There’ s a good number of homes and condos for sale, but not an overwhelming amount.

Properties for Sale in King County

Number of King County Properties for Sale, 2-01-10


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