Sellers had an 21.7% chance of getting a home sold  in West Redmond in March, 2008.

March, 2008            456 homes for sale,  49 sales,     21.7% chance of selling.

February, 2008        263 homes for sale,  41 sales,     15.6% chance of selling.

March, 2007            209 homes for sale,  82 sales      58.8% chance of selling.

Obviously, with more than double the inventory, competition is fierce.  However, our area is back on track as the best performing area on the eastside.  The East Bellevue/West Redmond area is the only area on the eastside where more than 20% of the homes received offers last month.

Think price, condition, price, condition if you are thinking about selling in today’s market.  Know your competition and beat it as the better valued home.  There are homes selling at or above full price, but they are gems.  It’s not unusual for a seller to negotiate price in this market.  If you follow my weekly updates, I list the final sales prices of homes and show the percentage difference between the original asking and selling price.