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.