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:  49(47) 

New listings:   4(4) 

Sold subject to inspection: 2(3)

Pending:  1(3)

Closed Sales:  4(1)

Sold Contingent: 1(0)

Rented: 0(0) 

Price Reductions:  2(2)

Price Increases:     0(0)

Expired Listings: 0(0)

Cancelled Listings: 0(0)

Temp Off Market:  0(1)

Back on Market: 1(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(3)

$500,000-$749,999:   21(20)

$750,000-$999,999: 9(9)

 $1,000,000- $1,499,999: 13(13)

$1,500,000- $2,999,999: 2(2)
———————————–
Average Price:    $921,728($934,297)

Median Price: $749,975($760,000)

Average Days on Market: 85(87)

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

Lowest Priced Listing: $399,950($419,000)

My analysis of this week’s buzz: 

A total of 49 homes are on the market this week, with 4 new listings, two homes receiving offers, one new construction home is pending, two price reductions, and four closed sales.  One home is back on the market at the same price as its previous listing. New construction in Evergreen Lane is sold contingent.  This means the buyer made an offer, but still has to sell their home.  Builders will often accept a contingent offer on a home, especially since the home is not finished. Interestingly, the two homes that received offers this week recently reduced their asking price.  With a more competitive price, the homes caught the attention of buyers and received offers.  The closed sale prices ranged from 10% below the original asking price to 2% over full price, with two homes selling at just about full price.  Homes that stand out because they shine above the competition and are priced well, will sell.

New listings: 

$435,000 3 bedroom town home in the Meadows with 1730 square feet, built in the late 70′s.

$629,950 4 bedroom two story with a basement in Charlson Place with 2590 square feet.

$635,000 Tam O’Shanter mid-entry home.

$698,000 3 bedroom, 1993 square feet, built in 2001 in Ardmore Village off NE 24th.

Homes receiving offers this week:

$525,000 Gleneden rambler, just reduced last week from $549,950.

$748,000 Gleneden two story, reduced two weeks ago from $795,000.

$599,950 new construction in The Village at Redmond Heights with 2400+ square feet.

Pending sales this week: 

(inspection has been satisfied)

$819,900 Emerald Lane new construction two story with a view, 5 bedrooms, 3010 Sq ft.

Sold contingent:

(home has received an offer, but buyer has to sell current home to make the sale)

$825,950 New construction off 148th in Evergreen Lane.  Home under construction.

Expired listings:

(Homes in which the listing contract has expired)

None this week.

Cancelled listings:

(Homes taken off the market)

None this week.

Temporarily off the market:

None this week.

Price reductions:

$399,950 Strattonwood rambler with 1400 square feet, down from $449,950.

$1,250,000 near Microsoft 2 year old custom with 4194 sq feet, a view, 4 bedrooms, 3.5 baths. Was $1,300,000.

Closed sales:

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

$348,700 town home in Sammamish Forest Manors.  Sold for full price in 25 days.

$351,000 town home in Sammamish Forest Manors, original list price of $345,000.  Sold for more than full price, 2% above the original asking price.  Either there were competing offers or the seller contributed to the buyer’s closing costs.  Either of these could raise the final sales price.

$549,950 new construction in The Village at Redmond Heights with an original asking price of $609,950.  Sold for 10% below asking price.

$750,000 two story in Lechner Ridge with a view, 3 car garage and gourmet kitchen.  Asking price of $749,950.  Sold for full price+ $500.00!

Back on the market:

$750,000 Spiritbrook tri-level with extended master bedroom and remodeled kitchen.