Debra Sinick

Archive for June, 2008

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Weekly Real Estate Buzz in West Redmond Through June 26th, 2008

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on June 26, 2008 at 3:46 pm

The numbers will now be a reflection of totals from Thursdays.  This will help get the data to you before the weekend, whenever possible.  In Seattle summer may finally be here this weekend!

 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 Thursdays from NWMLS information.  
Active Listings:  68(68) 

New listings:   7(4)

Pending inspection: 4 (1)

Pending:  5 (3)

Closed Sales:  4(1)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  4 (0)

Price Increases:     0(0)

Expired Listings: 2(2)

Cancelled Listings: 1(1)

Temp Off Market:  0(0)

Back on Market: 0(0)

Rented  1 (0)
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$0-$349,999:             0(0)

$350,000-$499,999:  6(5)

$500,000-$749,999:   36(36 )

$750,000-$999,999: 14(14)

 $1,000,000- $1,499,999:  8 (7)

$1,500,000- $2,999,999: 4(4)
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Average Price:    $852,514   ($819,028)

Median Price: $683,000($675,000)

Average Days on Market: 62(62)

Highest Priced Listing: $3,080,000 ($2,995,000)

Lowest Priced Listing: $379,950($379,950)

This week’s closed sales:

$420,000  Meadows town home,  list price of $435,000.   on the market for 62  days sold 4% below asking price. 

$615,000  Tam O’Shanter midentry home  original list price of $635,000 on market for 51 days.  sold 4% below asking price.

$840,000 Park Pointe two story home original list price of $849,950 on market for 27 days, sold  2% below asking price.

$1,250,000 Lake Sammamish waterfront. list price of $1,395,000, original list price of $1,500,000.  sold 17% below asking price.

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The “New” Grasslawn Park in Redmond, Washington Is Almost Here!

In Exploring Redmond, Local information, Redmond, WA on June 24, 2008 at 10:29 pm

It’s almost ready.  I stopped by Grasslawn Park in Redmond, Washington the other day and it’s looking pretty great.  The new basketball court is ready and the park is almost done, just in time for summer.

This just in from Timothy Cox of the City of Redmond:

“The new playground nearest the basketball courts will open this weekend.  The basketball courts are now open.  The new neighborhood gathering building and restrooms near 148th Ave will take 2-3 weeks to final and then open. 
 
The central playground is scheduled to reopen the third week of July.”  
(By the way I think the building looks terrific!)
So in a few more weeks, the fences should be down around the new community building.  Take a look.  It looks just great and is a wonderful addition to the Grasslawn and Redmond city parks.

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Weekly Real Estate Buzz in West Redmond through June 19th, 2008

In For Buyers, For Sellers, Local information, Market Statistics, Real Estate news, Redmond, Weekly real estate updates on June 20, 2008 at 9:51 pm

The numbers will now be a reflection of totals from Thursdays.  This will help get the data to you before the weekend, whenever possible.  If the sun is out, I imagine you’ll want to be out and about, rather than looking at real estate data!

 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 Thursdays from NWMLS information.  
Active Listings:  68(68) 

New listings:   4(5)

Sold subject to inspection: 1(4)

Pending:  3 (1)

Closed Sales:  1(2)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  7(0)

Price Increases:     0(0)

Expired Listings: 2(0)

Cancelled Listings: 1(4)

Temp Off Market:  0(0)

Back on Market: 0(0)
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$0-$349,999:             0(0)

$350,000-$499,999:  4(5)

$500,000-$749,999:   38(36 )

$750,000-$999,999: 14(14)

 $1,000,000- $1,499,999:  7 (9)

$1,500,000- $2,999,999: 4(4)
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Average Price:    $819,028 ($847,153)

Median Price: $675,000($683,000)

Average Days on Market: 62(61)

Highest Priced Listing: $2,995,000 ($2,995,000)

Lowest Priced Listing: $379,950($379,950)

This week’s closed sale was at $719,000 down from $749,000 with an original list price in the mid 800’s.  It was on the market for 108 days. 

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What Were The Chances of Selling a Home in West Redmond and East Bellevue in May, 2008?

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, WA, Weekly real estate updates on June 16, 2008 at 6:03 pm
Sellers had an 13.5% chance of getting a home sold  in West Redmond and East Bellevue in May, 2008.
May,   2008             347 homes for sale,  47 sales,     13.5% chance of selling.
April, 2008              289 homes forsale,   55 sales,     19%    chance of selling.
May,  2007              152 homes for sale,  97 sales,     63.8%  chance of selling.
Inventory in the area is up 128% from last year at this time.  Homes are selling in the area, but this area is no longer the fastest selling area on the Eastside.  The area has held the title for a long time, even in the slower market.  Because inventory has gone up so much, the area has beome increasingly more competitive. It will be interesting to see next month’s statistics.
The Education Hill area of Redmond had a 21.2% absorption rate this past month, surpassing the Redmond/Bellevue/Mircrosoft area by 7% in sales activity. 
If you are a seller, do not give up hope.  Be competitive and have your home show really well.
For a complete picture of the real estate market performance for May on the eastside, check out my eastside blog.

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Weekly Real Estate Buzz in West Redmond, Washington Through June 13, 2008

In For Buyers, For Sellers, Market Statistics, Real Estate news, Redmond, WA, Weekly real estate updates on June 13, 2008 at 5:07 pm

But I’m back with a slightly different version of the weekly real estate statistics in Redmond. This report shows this week and last’s real estate numbers. I’ll continue to report the number of new listings, pendings, days on market, etc.  However, my weekly updates will report the specific information on closed sales only.  These are the sales in which the sale has closed and the new owner has taken over.  In this market, I find it helpful to see the original asking price of a home, its final list price, and the actual sales or closing price. 

In addition, the numbers will now be a reflection of totals from Thursdays.  This will help get the data to you before the weekend, whenever possible.  If the sun ever comes out here, I imagine you’ll want to be out and about, rather than looking at real estate data!

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 Thursdays from NWMLS information.  
Active Listings:  68(71) 

New listings:   5(6)

Sold subject to inspection: 4(2)

Pending:  3(1)

Closed Sales:  1(2)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  0(4)

Price Increases:     0(0)

Expired Listings: 0(0)

Cancelled Listings: 4(1)

Temp Off Market:  0(0)

Back on Market: 0(0)
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$0-$349,999:             0(0)

$350,000-$499,999:  5(4)

$500,000-$749,999:   36(38 )

$750,000-$999,999: 14(15)

 $1,000,000- $1,499,999:  9 (10)

$1,500,000- $2,999,999: 4(4)
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Average Price:    $847,153 ($849,564)

Median Price: $683,000($689,000)

Average Days on Market: 61(58)

Highest Priced Listing: $2,880,000 ($2,995,000)

Lowest Priced Listing: $379,950($450,000)