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:  44(47)

New listings:   0(2) 

Sold subject to inspection: 2(1)

Pending:  4(5)

Closed Sales:  5(0)

Sold Contingent: 2(0)

Rented: 0(0) 

Price Reductions:  1(4)

Price Increases:     0(0)

Expired Listings: 0(0)

Cancelled Listings: 1(1)

Temp Off Market:  1(0)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(5)

$500,000-$749,999:   15(16)

$750,000-$999,999: 11(12)

 $1,000,000- $1,499,999: 12(12)

$1,500,000- $2,999,999: 2(2)
———————————–
Average Price:    $946,827 ($923,537)

Median Price: $775,000($765,000)

Average Days on Market: 89(85)

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

Lowest Priced Listing: $419,000($419,800)

My analysis of this week’s buzz: 

The number of available homes has dropped to 44 homes.Two homes received offers, one listing was cancelled, four homes are now pending and there were 5 closed sales.  Nine homes have gone pending in the last two weeks and inventory is dropping just slightly. Days on the market have creeped up a bit to an average of 89 days.  There are homes moving quickly and homes still taking time to sell.  The homes moving quickly had remodeled kitchens and extensive updating.  Closed sales ranged from 3% ABOVE asking price to 10% below asking price.

 New listings: 

None this week.

Back on the market:

None this week

Homes receiving offers this week:

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

$460,000 for a town home in the Meadows, originally priced at $475,000 and on the market for 31 days.  The home had an updated kitchen with new appliances and was sited on a greenbelt lot.

$465,950 for a Meadows town home on the market for 7 days. This home had a remodeled kitchen and greenbelt privacy.

Pending sales this week: 

(inspection has been satisfied)

$575,000 a midentry home near Microsoft that was originally priced at $622,000.  It was on the market for 196 days.

$649,880 a two story home in Castlewood, near Tam O’Shanter with a remodeled kitchen and updated baths, on the market for less than 3 weeks.

$725,000 2270 sq ft two story in Sheffield Greens originally priced at $738,000 and on the market for 166 days before receiving the offer.

$749,500 Lechner Ridge two story with a remodeled kitchen, 3 car garage, and mountain view.  On the market for 8 days.

Expired listings:

(Homes in which the listing contract has expired)

None this week.

Cancelled listings:

(Home has been taken off the market)

$859,900 a newer two story over by Sheffield Greens and Microsoft’s Redwest campus with 3000 square feet. It was on the market for 14 days.

Temporarily off the market:

None this week.

Price reductions:

$499,950 originally priced at $519,950 for  a tri-level near Grasslawn park which has been on the market for 192 days.

Closed sales:

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

$465,000 for a small home off of NE 40th that was a land buy.  Originally priced at $474,999, it was about a 1/4 acre piece with  a small home.  It sold in 24 days. Sold for 3% below asking price.

$495,000 Bristol Woods mid-entry home originally priced at $550,000, dropped to $500,000 and sold at 495k.  This home had been on the market for 163 days. Sold for 10% below the original asking price.

$570,000 View Ridge daylight rambler (my listing) with 3000 sq. feet, hardwood floors, and a mountain view. Originally priced at $609,950, with the final listing price of $579,950. Sold for 7% below the original asking price.

$670,000 Murray Franklyn built two story over by Grasslawn Park that had been priced at $649,950.  This home had new everything, slab granite, new carpet, new doors, the works, and it sold in 3 days for about 3% over asking price.

$696,000 Hampton Place two story with 5 bedrooms and 2.5 baths, on the market for 187 days.  Originally priced in the mid 700′s and its final list price was $725,000. Sold for 7% below the original price.