The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  59(56) 

New listings:   9(3) with one home re-listed.

Sold subject to inspection: 4(2)

Pending:  1(2)

Closed Sales:  2(2)

Sold Contingent: 2(1)

Rented: 0(0) 

Price Reductions:  2(4)

Price Increases:     0(0)

Expired Listings: 0(1)

Cancelled Listings: 1(1)

Temp Off Market:  0(0)

Back on Market: 0(2)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(4)

$500,000-$749,999:   30(29 )

$750,000-$999,999: 14(11)

 $1,000,000- $1,499,999: 8(9)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $845,925($848,654)

Median Price: $699,000($697,000)

Average Days on Market: 62(65)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $439,000($435,000)

My analysis of this week’s buzz: 

This week inventory is at the highest it’s been all year with 59 homes for sale in the area.  There are 9 new listings and four homes received offers this week. One home has had the inspection satisfied and is now pending.   This week two homes closed with the ownership changing hands. Closed sale prices ranged from 2.5% ABOVE asking price to 8%  below the original asking price.  Four homes experienced a price reduction, including the home that was the best priced home in the area at the time.  This home, in the Meadows, received an offer this week.  Over the last few weeks, several homes have reduced asking prices, becoming competitive in pricing, and received offers almost immediately. 

Enjoy the sun this weekend!  I imagine many of you will be outside enjoying the best weather yet for this year!

New listings: 

$439,950 Marymoor town home with 1190 sq ft, 1 garage,

$508,000 Meadows single family w/ mt view, remodeled kitchen, and upgraded finishes. 1687 sq ft, 2 bedrooms, 2 baths, private (my listing)

$529,000 Wetherburn rambler with 1600 sq ft, 4 bedrooms, and remodeled kitchen.

$584,950 daylight basement home off 180th Ave NE, 3 bedrooms, 2.5 baths, 2190 sq ft.

$675,000 Ardmore Village two story 2290 sq ft, 4 bedrooms, 2.5 bths, built in 2001.

$677,000 Braeburn Golf Course daylight basement home.

$756,000 Wildwood Glen Tri-level home, total remodel, 2240 sq ft, 3/2.5 baths.

$835,000 Grasslawn Village two story, over 3000 sq. ft, 4 bedrooms, 2.5 baths.

$875,000 Charlson Place two story with basement, 3260 sq ft, built in 1999.

Homes receiving offers this week:

$425,000 Meadows town home 1770 sq ft, 3 bedrooms, 2.5 baths.

$598,000 Grasslawn two story 2460 sq ft, 4 bedrooms, 2.5 baths, built in 1982.

$635,000 Tam O’Shanter mid-entry home 2470 sq ft, 4 bedroom, 2.5 bath.

$749,000 two story overlooking Marymoor 5 bedrooms, 2.5 baths, view, built in 1996.

Pending sales this week: 

(inspection has been satisfied)

$545,000 Spiritbrook Tri-level, 2080 sq ft, 3 bedrooms, 2.5 baths and remodeled kitchen

Contingent sales: 

(home has received an offer, but buyer has to sell current home to make the sale)

$599,900  Gleneden two story home with 2900+ sq ft, 4 bedrooms, 2.5 baths.

$1,499,000 Chaffey built new construction 3310 sq ft, 4 bedrooms, 3.5 baths.

Expired listings:

(Homes in which the listing contract has expired)

None this week. 

Cancelled listings:

(Homes taken off the market)

$599,000 rambler with 1800 sq ft 3 bedrooms and 1.75 baths.

Temporarily off the market:

None this week.

Price reductions:

  $620,000 down from $646,000  Gleneden two story with 2610 sq ft, 4 bedrooms, 2.5 baths.

  $650,000 down from $675,000 Spiritbrook two story 3240 sq ft, 4 bedrooms, 2.5 baths.

Closed sales:

(Homes in which the new owner has moved in!)

$460,000 town home in The Meadows.  Original asking price of $450,000.  Sold for 2.5% above asking price.

$564,000 down from $588,000.  Sold in 160 days for almost   * % below original asking price.

Back on the market:

None this week.

 

April, 2008              289 homes forsale,   55 sales,     19% of chance of selling.
March, 2008            271 homes for sale,  59 sales,     21.7%  chance of selling.
April, 2007              137 homes for sale,  63 sales      46% chance of selling.
(March’s chance of selling, 21.7%, was reported correctly in the April post, but the number of homes available and the number of sales was reported incorrectly.  The numbers above are the correct data for March, 2008.) 
Think price, condition, price, condition if you are thinking about selling in today’s market, know your competition and beat it in the pricing and condition.  Most likely your home will then be the one to sell.  Inventory in the area is up over 100% from last year at this time, so competition is stiff.  The homes that draw the best prices are those with the remodeled kitchens.  However, there are many homes selling without remodeled kitchens. As with all homes currently selling, these homes show well and are priced well.
Update post itThe area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  56(54) 

New listings:   3(3)

Sold subject to inspection: 2(4)

Pending:  2(3)

Closed Sales:  2(2)

Sold Contingent: 1(0)

Rented: 0(0) 

Price Reductions:  4(5)

Price Increases:     0(0)

Expired Listings: 0(1)

Cancelled Listings: 1(1)

Temp Off Market:  0(0)

Back on Market: 2(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(4)

$500,000-$749,999:   29(28 )

$750,000-$999,999: 11(10)

 $1,000,000- $1,499,999: 9(9)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $848,654($857,604)

Median Price: $697,500($697,000)

Average Days on Market: 65(68)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $425,000($435,000)

My analysis of this week’s buzz: 

This week inventory is back up to 56 homes for sale.  There are 3 new listings and two homes received offers this week. Two homes have had the inspection satisfied and are now pending.  Closed sale prices ranged from 2%-9%  below the original asking price.  This week two homes that just sold came back on the market.  This could mean several things.  It could mean the buyers got cold feet and backed out or the buyer and seller could not agree on the building inspection request for repairs and the offer was terminated.  Four homes experienced a price reduction, including the home that is the best priced home in the area. 

New listings: 

$545,000 Spiritbrook Tri-level, 2080 sq ft, 3 bedrooms, 2.5 baths and remodeled kitchen.

$599,000 Gleneden two story with 2900 sq ft, 4 bedrooms, 2.5 baths, greenbelt location.

$785,000 Sheffield Greens two story with 2640 sq ft, 4 bedrooms, 2.5 baths.

Homes receiving offers this week:

$545,000 was also listed as a new listing above, this home sold in 3 days.  It had the “magic” remodeled kitchen, which is always the hot button for buyers.

$699,000 Gleneden 7 bedroom, 5 bath, with 3760 sq ft.

Pending sales this week: 

(inspection has been satisfied)

$450,000 Meadows town home with 3+ bedrooms, 2.5 baths, 1700+ sq ft.

$475,000 Kirk Estates Burnstead rambler with 3 bedrooms, 1.75 baths, 1600+sq ft.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

$629,950 4 bedroom, 2.5 bath mid-entry home in Tam O’Shanter.

Expired listings:

(Homes in which the listing contract has expired)

None this week. 

Cancelled listings:

(Homes taken off the market)

$679,000 Rambler with 2000 sq ft. On market for 194 days.

Temporarily off the market:

None this week.

Price reductions:

  $425,000 Meadows town home reduced $10,000 from $435,000.

$550,000 from $575,000 mid-entry with possible subdividable lot.

$619,988 down from $649,950 (my listing) 4/5 bedrooms, 2.5 bath, Hampton Place trilevel.

$699,000 down from original price of $760,000 for newer style two story in Ardmore Village. 

Closed sales:

(Homes in which the new owner has moved in!)

$579,950 Spiritbrook Tri-level down from $589,950. (my listing)  Sold for 2% less than the original asking price in 27 days.

$630,000 Country Creek tri-level down from $649,500 with original price of $715,000, sold for almost 9% below the original asking price.

Back on the market:

$599,950 Knollwood Mid-entry 3 bedrooms, 2.75 baths, 2660 sq ft.

$699,900 Gleneden mid-entry home.

 

Update post it

 The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  54(57) 

New listings:   3(6) with two homes re-listed

Sold subject to inspection: 4(0)

Pending:  3(3)

Closed Sales:  2(5)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  5(4)

Price Increases:     0(0)

Expired Listings: 1(0)

Cancelled Listings: 1(0)

Temp Off Market:  0(0)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(7)

$500,000-$749,999:   28(26 )

$750,000-$999,999: 10(12)

 $1,000,000- $1,499,999: 9(9)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $857,604($847,799)

Median Price: $697,000($696,000)

Average Days on Market: 68(62)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $435,000($435,000)

My analysis of this week’s buzz: 

Inventory has dropped slightly this week, with three less homes on the market in the area compared to last week.  There are 3 new listings and four homes received offers this week. Three homes have had the inspection satisfied and are now pending.  Closed sale prices ranged from 8%-13%  below the original asking price.  Several of the homes receiving offers this week sold quickly, in less than two weeks.  It will be interesting to see the sales prices of these homes when the sales close. 

New listings: 

$645,000 Trilevel on Lake Samm Parkway with 2020 sq ft, 3 bedrooms, 2.5 baths.

$764,950 New construction Camwest on Evergreen Lane, 3149 sq ft, 4 bedrooms, 2.5 baths.

$809,950 New construction Camwest on Evergreen Lane, 3136 sq ft, 4 bedrooms, 2.5 baths.

Homes receiving offers this week:

$450,000 Meadows town home with 3+ bedrooms, 2.5 baths, 1700+ sq ft.

$475,000 Kirk Estates Burnstead rambler with 3 bedrooms, 1.75 baths, 1600+sq ft.

$599,950 Knollwood Mid-entry 3 bedrooms, 2.75 baths, 2660 sq ft.

$849,950 11 year old two story home with 3030 sq. ft, 4 bedrooms, 2.75 baths.

Pending sales this week: 

(inspection has been satisfied)

$656,000 3 bedroom, 1.5 bath, 18000 sq ft lot, value is in the land.

$752,950 New construction, Evergreen Lane with 3051 sq. ft, 4 bedrooms, 2.5 baths.

$1,395,000 Lake Samm waterfront with 19000 sq ft lot, and 3 bedroom home.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

None this week

Expired listings:

(Homes in which the listing contract has expired)

$809,000 Lake Samm Parkway two story , 2580 sq. ft, 3 bedrooms, 2.5 baths,

Cancelled listings:

(Homes taken off the market)

$435,000 Walnut Hills town home with 2 bedrooms, 2 baths.

Temporarily off the market:

None this week.

Price reductions:

  $577,000 down from original price of $620,000, 4 bedroom, 2.5 bath two story.

$619,000 down from $639,000 two story 2150 sq ft. 3 bedrooms, 2.5 baths.

$719,000 down from $765,000 Ardmore Village two story 2780 sq ft, 4 bedrooms, 3 baths.

$1,1245.000 down from $1,325,000  newer two story, 3730 sq ft, 4 bedroom, 2.75 baths.

$2,299,000 down from $2,600,000 waterfront 6690 sq ft, 5 bedrooms, 5.5 baths. 

Closed sales:

(Homes in which the new owner has moved in!)

$395,000 was $399,000, original price of $449,950 Strattonwood rambler.   Sold for 13% less than the original asking price in 192 days.

$590,010 down from $625,000.  Tam O’Shanter mid-entry with original price of $640,000, sold for 8% below the original asking price.

Back on the market:

None this week.

Update post it

 

 The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  57(53) 

New listings:   6(6)

Sold subject to inspection: 0(2)

Pending:  3(5)

Closed Sales:  5(2)

Sold Contingent: 0(0)

Rented: 0(1) 

Price Reductions:  4(4)

Price Increases:     0(0)

Expired Listings: 0(1)

Cancelled Listings: 0(1)

Temp Off Market:  0(0)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  7(6)

$500,000-$749,999:   26(23 )

$750,000-$999,999: 12(11)

 $1,000,000- $1,499,999: 9(10)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $847,799($874,081)

Median Price: $696,000($724,950)

Average Days on Market: 62(63)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $435,000($435,000)

My analysis of this week’s buzz: 

There are now 57 homes on the market in the area, the largest number of homes for sale since last October.  The inventory continues to increase, with the increases in homes for sale falling in the $500-750,000 price range.  The majority of homes in the West Redmond area fall into this price range category, so it is not surprising that there are more listings in this price bracket.

There are 6 new listings. Three homes received offers this week, resolved the inspection issues immediately, and went right to the pending status.  Ironically, two of the pending sales were for new construction in Parkside, the Bennett Homes off NE 40th near Microsoft.  Both had significant price reductions last week and both received offers this week.  Pricing is so critical in today’s market. There were 5 closed sales in which ownership changed hands. Closed sale prices ranged from 28% below the original asking price to 1% above the asking price.

Competition is a bit stiffer with the increase in inventory.  Sales have remained steady, but there are more homes to choose from.  Sellers need to be more flexible in pricing because of this increase in competition.

New listings: 

$450,000 Meadows town home with 1700+ sq. ft, 3 bedrooms/ 2.baths.

$495,000 a 1950’s home on a 13,500 sq. ft. lot with sub-divide potential.

$599,000 mid-entry east of Microsoft with a 13,500 sq. ft. lot, home needs TLC

$610,000 Tam O’Shanter rambler with 1600+ sq ft., 3 bedrooms, 1.75 baths. Tam O’Shanter has neighborhood amenities of a golf course, pool, and club house.

$629,950 Tam O’Shanter midentry with 4 bedrooms, 3 baths.

$849,950 11 year old two story home with 3030 sq. ft, 4 bedrooms, 2.75 baths.

Homes receiving offers this week:

The homes receiving offers this week all had the inspections resolved with a matter of days and are already pending sales.

Pending sales this week: 

(inspection has been satisfied)

$373,000 Strattonwood Midentry with 2 bedrooms, 1.5 baths, 1500+ sq ft., 1 car garage.

$998,800 Parkside at Wilshire new construction with 4 bedrooms and 3.75 baths

$1,099,000 Parkside at Wilshire new construction with 4 bedrooms, 4.25 baths.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

None this week

Expired listings:

(Homes in which the listing contract has expired)

None this week.

Cancelled listings:

(Homes taken off the market)

None this week.

Temporarily off the market:

None this week.

Price reductions:

  $598,000 Grasslawn Park two story, down from $625,000.

$599,950 down from $629,950 Charlson Place two story with a basement, 4 bedrooms and 3.5 baths.

$650,000 down from $698,000 for an Ardmore Village two story with 1993 square feet.

$1,129,000 down from $1,149,000 Sheffield Park two story built in 2007 with 5 bedrooms and 3 baths.

Closed sales:

(Homes in which the new owner has moved in!)

$449,950 for a town home in Sammamish Forest Manors with a list price of $449,950.  Sold for full price in 89 days.

$455,000 for two story near Spiritbrook, list price of $499,500, original list price of $ 625,000 Sold 28% below the original asking price.

$571,000, original list price of $569,000.  Sold in three days for 1% above the asking price.

$667,000 The Village at Redmond Heights.  List price of $669,000.  Original list price of $699,000.  Sold for 5% below the original list price in 171  days.

$775,000  Emerald Lane two story with an original price of $859,000 with the last list price of $819,000.    Sold for 9% below the original asking price.

Back on the market:

None this week.

Update post it

The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  53(53) 

New listings:   6(5) one is a re-listed property

Sold subject to inspection: 2(1)

Pending:  5(5)

Closed Sales:  2(2)

Sold Contingent: 0(1)

Rented: 1(0) 

Price Reductions:  4(5)

Price Increases:     1(0)

Expired Listings: 1(0)

Cancelled Listings: 1(0)

Temp Off Market:  0(0)

Back on Market: 0(2)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  6(4)

$500,000-$749,999:   23(18 )

$750,000-$999,999: 11(10)

 $1,000,000- $1,499,999: 10(13)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $874,081($913,555)

Median Price: $724,950($740,000)

Average Days on Market: 63(74)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $373,000($435,000)

My analysis of this week’s buzz: 

The total of 53 homes remains the same as last week, when the inventory increased by 20% from previous weeks.  There are 5 new listings plus one re-listed home, 2 homes received offers, new construction was reduced in price, while one home in the very same neighborhood had a price increase.  There were 2 closed sales in which ownership changed hands.

Competition is a bit stiffer with the increase in inventory.  Sales have remained steady, but there are more homes to choose from.

New listings: 

$373,000 Strattonwood Midentry with 2 bedrooms, 1.5 baths, 1500+ sq ft., 1 car garage.

$534,950 Bristol rambler built by Burnstead with 3 bedrooms, 1.75 baths on a large lot (my listing)

$599,950 View Ridge rambler with 4 bedrooms, 1.75 baths, and about 1600 sq ft.

$659,950 remodeled midentry  with 2670 sq ft, 4 bedrooms, 3 baths.

$950,000 Marymoor Hill two story with 3900+ sq ft, 4 bedrooms, 3.5 baths.

$1,350,000 Lake Sammamish area, 4400 sq ft, 4 bedrooms, 4 baths, built in 2008 (relisted)

Homes receiving offers this week:

$569,950 new home in The Village at Redmond Heights with 2110 sq. ft., 3 bedrooms, 2.5 baths, 2110 sq.ft.

$1,350,000 Lake Sammamish waterfront, 50 ft, on a 19,000+ sq ft lot.

Pending sales this week: 

(inspection has been satisfied)

$545,000 Grasslawn Park two story with 1800 sq. ft., 3 bedrooms, 2.5 baths.

$588,000 Grasslawn Park two story with 2500 sq. ft., 4 bedrooms, 2.5 baths.

$649,500 Country Creek tri-level with 3 bedrooms, 2.5 baths, and a view.

$950,000 Marymoor Hill two story with 3190 sq. ft., 4 bedrooms, 2.75 baths.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

None this week

Expired listings:

(Homes in which the listing contract has expired)

$1,395,000 Lake Sammamish view home

Cancelled listings:

(Homes taken off the market)

$1,399,000 New home on market for 167 days, now rented.

Temporarily off the market:

None this week.

Price reductions:

New construction in Parkridge off of NE 40th.  Reductions range from $50,000-101,000.$630,000 Gleneden two story with 4 bedrooms and 2.5 baths, 2600+ square feet.

Closed sales:

(Homes in which the new owner has moved in!)

$520,000 rambler in Gleneden.  Original asking price of $549,950. Sold 6% below in 52 days.

$795,000 Emerald Meadows two story built in 2007 with 5 bedrooms, 2.5 baths. Sold for 7% below the original asking price of $849,950 in 321 days.

Back on the market:

None this week.

Located just a stone’s throw from Microsoft’s Redwest campus and the main Microsoft campus on 156th Ave NE, Grasslawn Park is undergoing a change.  New buildings are being added to the already fabulous facilities available at the park.

For a more complete list of all the changes happening in the park, check out my previous post on Grasslawn Park.

 

Update post it

The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  53(45) 

New listings:   5(3

Sold subject to inspection: 1(6)

Pending:  5(2)

Closed Sales:  2(3)

Sold Contingent: 1(0)

Rented: 0(0) 

Price Reductions:  4(2)

Price Increases:     0(0)

Expired Listings: 0(2)

Cancelled Listings: 0(0)

Temp Off Market:  0(0)

Back on Market: 2(6)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  5(4)

$500,000-$749,999:   22(1 8)

$750,000-$999,999: 10(8)

 $1,000,000- $1,499,999: 13(13)

$1,500,000- $2,999,999: 3(2)
———————————–
Average Price:    $913,555($939,850)

Median Price: $740,000($750,000)

Average Days on Market: 74(84)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $435,000($435,000)

My analysis of this week’s buzz: 

A total of 53 homes are on the market this week.  This a 20% increase over the number of homes for sale last week.  There are 5 new listings, 5 homes received offers,  4 price reductions, and 2 closed sales.

The number of homes for sale took a jump up this week.  We aren’t at the peak number of homes for sale, but we are inching up to that range.  Last October there were weeks with 57 homes on the market, and lately, we’ve been averaging about 45 homes for sale per week.  This week brings the total back up to higher numbers of homes for sale. Five homes are now pending, which means the inspection period is over and the sale is heading towards closing.

New listings: 

$529,500  Single family in the Meadows with 3 bedrooms and 2.5 baths.

$649,900  Hampton Place tri-level wtih 4/5 bedrooms, 2.5 baths  (my listing)

$696,000 Spiritbrook mid-entry remodeled with bamboo floors,new kitchen and baths.

$974,950 on Lake Samm Pkwy, remodeled 4 bedroom, 4 bath two story.

$1,500,000 large two story home on NE 51st  with 4000+ square feet, 4 bedrooms, 4.5 baths

Homes receiving offers this week:

$649,500 Country Creek tri-level with 3 bedrooms, 2.5 baths, and a view.

Pending sales this week: 

(inspection has been satisfied)

$399,950 Strattonwood rambler with 3 bedrooms, 1400 square feet.

$525,000 Gleneden rambler with 2020 square feet.

$589,950 Spiritbrook tri-level with 4 bedrooms, 2.5 baths. (My listing)

$625,000 Tam O’Shanter mid-entry with remodeled kitchen and master bath.

$748,000  Gleneden two story with a golf course  view. amd 3120 square feet.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

None this week

Expired listings:

(Homes in which the listing contract has expired)

none this week

Cancelled listings:

(Homes taken off the market)

None this week.

Temporarily off the market:

None this week.

Price reductions:

$588,000 Grasslawn two story with 4 bedrooms and 2.5 baths, 2360 square feet.

$630,000 Gleneden two story with 4 bedrooms and 2.5 baths, 2600+ square feet.

$739,950 Manchester Estates two story with 2853 square feet, 4 bedrooms, 2.5 baths.

$799,500 Lake Samm Pkwy mid-entry 4 bedroom, 2.75 baths, lake view.

Closed sales:

(Homes in which the new owner has moved in!)

$445,000 Meadows town home with 3 bedrooms, 2.5 baths.  Original asking price of $465,000. Sold for 5% below asking price in 16 days.

$557,800 Mid-entry in Meadowcrest.  Original asking price of 622,000,  Sold for 9% below the original asking price in 196 days.

Back on the market:

$435,000 Walnut Hills town home which had just sold.

$1,139,000 Prescott two story with 4000+ square feet.

March, 2008            456 homes for sale,  49 sales,     21.7% chance of selling.
February, 2008        263 homes for sale,  41 sales,     15.6% chance of selling.
March, 2007            209 homes for sale,  82 sales      58.8% chance of selling.
Obviously, with more than double the inventory, competition is fierce.  However, our area is back on track as the best performing area on the eastside.  The East Bellevue/West Redmond area is the only area on the eastside where more than 20% of the homes received offers last month.
Think price, condition, price, condition if you are thinking about selling in today’s market.  Know your competition and beat it as the better valued home.  There are homes selling at or above full price, but they are gems.  It’s not unusual for a seller to negotiate price in this market.  If you follow my weekly updates, I list the final sales prices of homes and show the percentage difference between the original asking and selling price.

 

 

Update post it

The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  45(49) 

New listings:   3(4

Sold subject to inspection: 6(2)

Pending:  2(1)

Closed Sales:  3(4)

Sold Contingent: 0(1)

Rented: 0(0) 

Price Reductions:  2(2)

Price Increases:     0(0)

Expired Listings: 2(0)

Cancelled Listings: 0(0)

Temp Off Market:  0(1)

Back on Market: 6(1)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(4)

$500,000-$749,999:   18(21)

$750,000-$999,999: 8(9)

 $1,000,000- $1,499,999: 13(13)

$1,500,000- $2,999,999: 2(2)
———————————–
Average Price:    $939,850($921,72 8)

Median Price: $750,000($749,975)

Average Days on Market: 82(85)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $435,000($399,950)

My analysis of this week’s buzz: 

A total of 45 homes are on the market this week, with 3 new listings, one re-listed home, 6 homes receiving offers,  two price reductions, and 3 closed sales. The most reasonably  priced offer this week was for a home that was just reduced to under $400,000, again the price was the key.  Six homes just received offers, which is terrific, given the performance of the general market.  Closed sales this week were  for homes that sold quickly and without discounting much in price. 

New listings: 

$450,000 3 bedroom home in the View Ridge with 1360 square feet, built in the 60’s.

$475,000 3 bedroom rambler in Bristol with 1600 square feet.

$950,000 Marymoor Hill two story with 3190 square feet, 4 bedrooms, and 2.5 baths

 

Homes receiving offers this week:

$399,950 Strattonwood rambler with 3 bedrooms and 1400 square feet.

$435,000 town home in Walnut Hills with 2 bedrooms, 2 baths, and 1700+ square ft.

 $588,000  two story near Grasslawn Park with 4 bedrooms, 2.5 baths, and 2510 square feet.

$589,950 Spiritbrook tri-level with 4 bedrooms, 2.5 baths. (My listing)

$625,000 Tam O’Shanter midentry with 4 bedrooms & 3.25 baths.

$669,950 New construction in The Village at Redmond Heights.

Pending sales this week: 

(inspection has been satisfied)

$499,950 Tri-level in Grasslawn Park with 3 bedrooms, 2.25 baths.

$569,950  Remodeled midentry in View Ridge with 4 bedrooms, 2.5 baths.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

None this week

Expired listings:

(Homes in which the listing contract has expired)

$785,000 daylight rambler on 156th, originally priced at $850,000

$890,900 on NE 51st, lot value at over an acre. 

Cancelled listings:

(Homes taken off the market)

None this week.

Temporarily off the market:

None this week.

Price reductions:

$450,000 for a Grasslawn midentry home, down from $475,000.

One back on the market home was also reduced.

Closed sales:

(Homes in which the new owner has moved in!)

$455,000 Meadows town home with 3 bedrooms, 2.5 baths.  Original asking price of $475,000. Sold for 5% below asking price in 38 days.

$540,000 remodeled rambler in View Ridge.  Original price of $545,950.  Sold for 3% below the original asking price in 15 days.

$641,880 two story near Tam O’Shanter with 4 bedrooms, 2.5 baths.  Sold for between 1-2% below the original asking price of $649,880 in 20 days.

Back on the market:

$599,950 new construction in Village at Redmond Heights 3 bedrooms, 3.5 baths.

$699,950 Gleneden daylight rambler with 7 bedrooms and 5 baths.

$679,000 rambler and also reduced from $699,950.

$1,099,800 new construction in Parkside at Wilshire of NE 40th

$1,149,000 new construction in Parkside.

$1,274,800 new construction in Parkside.