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. 

This week I have a new format for the weekly real estate buzz.

 
Active Listings:  53(53)

New listings:   4(9) 

Sold subject to inspection: 2(4)

Pending:  6(2)

Closed Sales:  0(1)

Sold Contingent:0(0)

Rented: 0(0) 

Price Reductions:  1(5)

Price Increases:     0(0)

Expired Listings: 1(0)

Cancelled Listings: 1(2)

Temp Off Market:  0(0)

Back on Market: 1(2)
———————————

$0-$350,000:             1(1)

$350,000-$499,999:  4(4)

$500,000-$749,999:   23(25)

$750,000-$999,999: 11(10)

 $1,000,000- $1,499,999: 12(12)

$1,500,000- $2,999,999: 2(1)
———————————–
Average Price:    $880,591 ($833,547)

Median Price: $725,000($699,000)

Average Days on Market: 88(92)

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

Lowest Priced Listing: $348,700($348,700)

My analysis of this week’s buzz: 

Homes are selling with a reasonable turnover of listings and new sales. There are still 53 homes available, but 2 homes received offers and 6 homes are now pending sales (sales with the inspection satisfied).

This week’s new listings: 

$649,880 two story Northwest contemporary style home off NE 24th, near Lake Sammamish with remodeled kitchen.

$749,500 Lechner Ridge traditional two story home with remodeled kitchen.

$859,900 3 year old two story near Sheffield Greens with 5 bedrooms.

$2,600,000 new construction with  over 6000 sq ft and a 1/3 acre on Lake Sammamish.

Back on the market:

$588,000 two story near Grasslawn Park that had come back on the market with some new updating.  It had received an offer and is now back on the market.

Homes receiving offers this week:

(actual sale price to be reported when the sale closes)

$725,000 The Hampton Place two story reported back on the market last week and a lower price from the original list price.

$624,000 A remodeled rambler re-listed at $624,000 down from its original price of $675,000.

Both of these home had just come back on the market at new, reduced prices and both sold quickly.

Pending sales this week: 

(inspection has been satisfied)

$500,000 midentry off 140th

$519,950 midentry near Spiritbrook.

$545,950 remodeled View Ridge rambler that had come back on the market with a higher price and more updates.

$579,950 View Ridge daylight rambler (my listing).

All of the above homes received offers last week and were listed in last week’s buzz. Each of the above homes had start at different prices, with 3 of the 4 reducing prices before selling.  The 4th home had completed a number of updates before coming back on the market at a higher price.

Two other sales were for new construction were in The Village at Redmond Heights of NE 85th and above downtown Redmond: 

$549,950 two story with a basement and 2117 sq ft had just been reduced from $609,950.

$699,950 a presale( home that has to be built) with 3320 sq ft.

Expired listings:

(Homes in which the listing contract has expired)

$509,990 bank owned midentry located above Lake Sammamish, originally priced at $565,000.

Cancelled listings:

(Home has been taken off the market)

$535,000 a fixer in Tam O’Shanter that had originally been priced at $565,000.

Price reduction:

$1,139,000 a home near Pinehurst (re-listed last week) was reduced by $10,000 from $1,149,000.

Closed sales:

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

None this week, but stay tuned, with the sales activity above, there will be several happening in the next couple of weeks.

Have a great Presidents Day weekend.

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. 

 
Active Listings:  53(44)

New listings:   9(7) 6 are re-listed homes

Sold subject to inspection: 4(3)

Pending:  2(0)

Closed Sales:  1(1)

Sold Contingent:0(0)

Rented: 0(0) 

Price Reductions:  5(4)

Price Increases:     0(1)

Expired Listings: 0(3)

Cancelled Listings: 2(0)

Temp Off Market:  0(0)

Back on Market: 2(1)
———————————

$0-$350,000:             1(1)

$350,000-$499,999:  4(2)

$500,000-$749,999:   25(23)

$750,000-$999,999: 10(8)

 $1,000,000- $1,499,999: 12(7)

$1,500,000- $2,999,999: 1(1)
———————————–
Average Price:    $833,547 ($812,901)

Median Price: $699,000($660,500)

Average Days on Market: 92(80)

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

Lowest Priced Listing: $348,700($349,000)

My analysis of this week’s buzz: 

Another busy week in the neighborhood. Inventory is back up almost to our high levels of the fall! 

There are now 53 homes available, wheareas just last week, there were only 44 homes. Of the 9 new listings, 6 were either re-listed homes or home that went off the market and are now back on and available. 

Last week I said,

“The expired listings are all new construction homes near Microsoft. These homes were first listed when they were just lots.  All have been on the market for about 300 days.  Since the listings expired and are not active, our days on market number has changed.  It looks as if the market has heated up, but the reality is the new number of 80 days on the market reflects the fact that these homes are not included in our listings this week.   I anticipate these homes all coming back on the market at some point in the near future, so our market time may change once again.”

Well, now they are back on the market and available.  Because these million dollar plus homes are on the market again, the days on market is up.  Since these homes have been on the market for about a year, the length of their days on market increased the days on market for the whole area. 

 Because there are more higher end homes on the market this week, the median and average price is higher this week.Another home is back on the market at 1.3 Million.  It was on the market last year and is a 4000+ sq ft, one year old home.  Another high end home is on the market over by Pinehurst in a small cul-de-sac on 149th.  It is now at $1,149,000. 

 A  Hampton Place two story is back on the market and is now priced at $725,000 after being listed in the high 700′s.  A remodeled rambler is re-listed at $624,000 down from $675,000. New construction in The Village at Redmond Heights, off NE 85th, is back on the market at $699,950.  The Sammamish Forest Manor town home at $348,700 is also back on the market. 

The brand new listings are a rambler in Gleneden for $549,950, and a two story in Ardmore Village for $765,000.

Four homes received offers this week.   One was a rambler  that had come back on the market in View Ridge with more updates at $545,950, 50k more than its original price.  It sold in 4 days.  Another sale was a daylight rambler in View Ridge (my listing) and it received two offers.  The other homes with offers were a midentry near Spiritbrook priced at $519,950 and a midentry off of 140th priced at $500,000.

A remodeled two story over by Grasslawn, priced at $649,950 went pending after going through a building inspection as did a town home in Village Green for $417,000.  

 The sold home of the week sold in Tam O’Shanter for $820,000, a 20k price reduction.

Reductions are for a rambler now $519,950, which was originally priced in the high 500′s, three homes in The Village at Redmond Heights were all reduced from the low 600′s to the mid 500′s.  The last price reduction was for a home priced at $1,325,000 to $1,290,000.