Debra Sinick

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What Were The Odds of Selling Your Redmond/East Bellevue Home Near Microsoft in October, 2009

In Bellevue real estate, For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond on November 10, 2009 at 12:42 pm

Redmond and East Bellevue Real Estate Sales, October 2009

Redmond and East Bellevue Real Estate Sales, October 2009

Sellers had 19% odds of getting a home sold in West Redmond and East Bellevue, both neighborhoods near Microsoft, in October, 2009.  (The NWMLS, the Northwest Multiple Listing Service puts the data together from East Bellevue and the Redmond area around Microsoft.)

If you check the link above, it shows  the 5 year trend in real estate.  The numbers for the Trendgraphix chart may vary slightly from the MLS statistics posted in the above link, but the variation is slight.  The overall trend in the market is the same.

October, 2009          253 homes for sale      47 homes sold                  19% odds of selling

September, 2009     243 homes for sale     (now 73) 79 homes sold,      (now 30%)   32.5% odds of selling*

October, 2008          332 homes for sale      29 homes sold                   13% odds of selling

*Adjusted sales numbers reflect sales that failed and did not close.

The odds of selling a home is determined by the absorption rate, which is the percentage of homes that sell each month compared to the number of  homes for sale.  If there’s a 10% chance a home sells, then 10 out of 100 home sellers accepted an offer on their home during that month.  Ninety out of 100 home sellers would not have a mutually accepted offer.

Nineteen out of 100 homes received and accepted offers in October.  The numbers for September had shown 79 homes had sold, but only 73 of those sales stayed together.  The numbers on the chart are adjusted to reflect the actual number of home sales that did close.

What’s happening with real estate prices in Redmond and East Bellevue?

The median sales price decreased by 8% to $445,000 from $484,725, the number of homes for sale declined by 23.5%, and the number of homes sold in Redmond increased by 59%. 

For the full picture of Seattle-Eastside real estate, check out my eastside real estate blog.

Looking for more national real estate information? The Seattle-Eastside area is certainly not alone in declining home values. However, with the passage of a bill giving more widely available tax credits to home buyers, I hope to see the number of Redmond home sales remain strong.

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Weekly Real Estate Buzz in Redmond, Near Microsoft, 11-9-09

In For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond, Weekly real estate updates on November 9, 2009 at 4:06 pm

The number of homes for sales in Redmond, near Microsoft remains on the lower end for the year. Gone on those weeks when the number of  homes available in Redmond near Microsoft was around 80 homes per week.   With the extension and expansion of the first time home buyers credit, this may be a great time to consider selling your home. Not only will first time buyers be the beneficiaries of the tax credit, but many move-up or move-down buyers can also get a piece of the home buyer tax credit, and that could mean you!

(The weekly real estate buzz post has moved and will now be published at the beginning of each week.  The “Hot Sales Price of the Week” will now be posted at the end of each week.)

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: 57 (56)

New listings: 3 (4)

Pending inspection:3 (4)

Pending: 4 (1)

Closed Sales: 1 (2)

Price Reductions: 5 (4)

Price Increases:0 (0)

Off The Market (not sold)  0 (4)

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$0-$349,999: 2 (1)

$350,000-$499,999: 24 (20)

$500,000-$749,999: 16 (21)

$750,000-$999,999: 9 (9 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $647,021 ($638,771)

Median Asking Price of Homes for Sale: $559,850 ($559,850)

Average Days on Market: 114 (109)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $224,950 ($280,000)

New listings: There were three new listings for sale this past week. There are now more homes for sale in Redmond below $500,000 than in the $500-750,000 price range.

Pending inspections and pending: Sales are not as fast and furious as a few months ago, but sales are still happening and competition is lessening because fewer homes are on the market.

Price reductions: Price reductions were up this week as those home sellers on the market are trying to stay competitive.

Homes off the market (homes that did not sell): None

Home sales: One home sale closed this week.

Closed Sales Of The Week:

$375,000 last asking price: $399,000, original asking price: $429,000 sold in 89 days for 13% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-9-09  12,382,

58 more homes for sale this week than last, the first increase in numbers in the past month.  We’re back to same number of homes for sale as we saw in February.  The big difference is so many more homes are selling now than in February.


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Hot Price for Bellevue and Redmond Home Sales, 11-4-09

In Bellevue real estate, For Buyers, For Sellers, Market Statistics, Microsoft, Real Estate news, Redmond on November 6, 2009 at 11:56 am

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

  • Most number of home sales $400-499,999 8 homes sold, one more home sale this week than last.
  • Most number of homes for sale: $400-499,999     63 homes for sale. The same number as last week when there was a huge increase in homes for sale in Redmond and Bellevue.
  • Best week to sell your home in the last 7 weeks?      Week of Sept. 30th, with 25 sales.
  • Most homes for sale in the last 7 weeks?       Last week, 10-28-09, when 253 homes were for sale.
  • All of the Bellevue and Redmond homes sales were priced under $799,999.
  • There were 244 homes for sale and 18 homes sold in East Bellevue and Redmond near Microsoft last week.  The number of Redmond and Bellevue home sales has dropped dramatically from the high of 28 sales at the end of August.
  • Peak of the number of homes for sale in King County so far this year?
  • July 27th- a high of 13,861 homes for sale.
  • Week of 11-02-09  12,324  homes and condos for sale in King County, the lowest number of properties for sale in King County since February, 2009.  The number of homes for sale is going down, down, down.
East Bellevue and Redmond, Near Microsoft Home Sales, 11-04-09

East Bellevue and Redmond, Near Microsoft Home Sales, 11-04-09

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 2 months to sell all of the homes in the $400-499,999 price range.

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