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 red show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information.

 New listings:   2(3)  

Active Listings:  52(54)

Sold subject to inspection: 0(1)

Pending:  1(3)

Closed Sales:  0(7)

Sold Contingent:0 (1)

Rented: 0  (1) 

Price Reductions:  4(5)

Expired Listings:  1 (0)

Cancelled Listings: 2 (0)
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Number of homes available: 52(54)

$0-$350,000:             1(0)

$350,000-$499,999:  4(6)

$500,000-$749,999:   25(25)

$750,000-$999,999:  11(11)

 $1,000,000- $1,499,999: 6(7)

$1,500,000- $2,999,999: 5(5)
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Average Price:    $839,536 ($850,255)

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

Average Days on Market: 85(78)

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

Lowest Priced Listing: $349,600 ($369,400)

My analysis of this week’s buzz: 

 This week we are again seeing some new categories, expired and cancelled listings.  Two of the listings that are off the market this week were on the high-end of the price range.   One home had been on the market since the end of October and is a new construction home of almost 5000 square feet.  It was priced at $1,795,000.  Another large home, rebuilt from the foundation up in 2006, went off the market.  It had been on the market for over three months at $1,385,000.  A Sammamish Forest Manors town home priced in the low 400′s also went off the market.  Listings often go off the market in December as people are busy with the holidays and family.  Ironically, only one of these listings was occupied.

New to the market is a smaller home, built in the late 1980′s, and priced at $609,500.  The other new listing is a home on a large lot, almost a 1/2 acre, on Lake Sammamish.  It’s priced at $1,500,000.

A home in Spiritbrook, priced at $629,950 received an offer, went through the building inspection, and is now pending.

The least expensive listing is a home in Sammamish Forest Manors  was first priced at $420,000 and has been reduced to $349,600, making it only the second home to be priced under $350,000 in a long while.  The previous listing under $350,000 was also in Sammamish Forest Manors and sold almost immediately.

Two other homes reduced prices.  A daylight rambler in View Ridge dropped about $12,000 and is now priced at $597,950.  A remodeled rambler with a state of the art kitchen is now $624,000.  Another home on 156th has been reduced by $50,000 to $799,000.

Market times have gradually increased from about two months of marketing time to close to 3 months.  The number of active listings is beginning to decline gradually.