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: 53(53)
New listings: 6(5) one is a re-listed property
Sold subject to inspection: 2(1)
Pending: 5(5)
Closed Sales: 2(2)
Sold Contingent: 0(1)
Rented: 1(0)
Price Reductions: 4(5)
Price Increases: 1(0)
Expired Listings: 1(0)
Cancelled Listings: 1(0)
Temp Off Market: 0(0)
Back on Market: 0(2)
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$0-$349,999: 0(0)
$350,000-$499,999: 6(4)
$500,000-$749,999: 23(18 )
$750,000-$999,999: 11(10)
$1,000,000- $1,499,999: 10(13)
$1,500,000- $2,999,999: 3(3)
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Average Price: $874,081($913,555)
Median Price: $724,950($740,000)
Average Days on Market: 63(74)
Highest Priced Listing: $2,880,000 ($2,880,000)
Lowest Priced Listing: $373,000($435,000)
My analysis of this week’s buzz:
The total of 53 homes remains the same as last week, when the inventory increased by 20% from previous weeks. There are 5 new listings plus one re-listed home, 2 homes received offers, new construction was reduced in price, while one home in the very same neighborhood had a price increase. There were 2 closed sales in which ownership changed hands.
Competition is a bit stiffer with the increase in inventory. Sales have remained steady, but there are more homes to choose from.
New listings:
$373,000 Strattonwood Midentry with 2 bedrooms, 1.5 baths, 1500+ sq ft., 1 car garage.
$534,950 Bristol rambler built by Burnstead with 3 bedrooms, 1.75 baths on a large lot (my listing)
$599,950 View Ridge rambler with 4 bedrooms, 1.75 baths, and about 1600 sq ft.
$659,950 remodeled midentry with 2670 sq ft, 4 bedrooms, 3 baths.
$950,000 Marymoor Hill two story with 3900+ sq ft, 4 bedrooms, 3.5 baths.
$1,350,000 Lake Sammamish area, 4400 sq ft, 4 bedrooms, 4 baths, built in 2008 (relisted)
Homes receiving offers this week:
$569,950 new home in The Village at Redmond Heights with 2110 sq. ft., 3 bedrooms, 2.5 baths, 2110 sq.ft.
$1,350,000 Lake Sammamish waterfront, 50 ft, on a 19,000+ sq ft lot.
Pending sales this week:
(inspection has been satisfied)
$545,000 Grasslawn Park two story with 1800 sq. ft., 3 bedrooms, 2.5 baths.
$588,000 Grasslawn Park two story with 2500 sq. ft., 4 bedrooms, 2.5 baths.
$649,500 Country Creek tri-level with 3 bedrooms, 2.5 baths, and a view.
$950,000 Marymoor Hill two story with 3190 sq. ft., 4 bedrooms, 2.75 baths.
Sold contingent:
(home has received an offer, but buyer has to sell current home to make the sale)
None this week
Expired listings:
(Homes in which the listing contract has expired)
$1,395,000 Lake Sammamish view home
Cancelled listings:
(Homes taken off the market)
$1,399,000 New home on market for 167 days, now rented.
Temporarily off the market:
None this week.
Price reductions:
New construction in Parkridge off of NE 40th. Reductions range from $50,000-101,000.$630,000 Gleneden two story with 4 bedrooms and 2.5 baths, 2600+ square feet.
Closed sales:
(Homes in which the new owner has moved in!)
$520,000 rambler in Gleneden. Original asking price of $549,950. Sold 6% below in 52 days.
$795,000 Emerald Meadows two story built in 2007 with 5 bedrooms, 2.5 baths. Sold for 7% below the original asking price of $849,950 in 321 days.
Back on the market:
None this week.
West Redmond Real Estate Buzz