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:  81 (76) 

New listings:  5 (4)

Pending inspection: 1 ( 2 )

Pending: 3 (5)

Closed Sales: 1 (2)

Sold Contingent:0 (0)

Rented: 0(0) 

Price Reductions: 2  (6)

Price Increases:     0  (0 )

Expired Listings:2  (0)

Cancelled Listings: 0 (1)

Temp Off Market:  0(0)

Back on Market: 0(0)

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

$350,000-$499,999:  11 ( 9 )

$500,000-$749,999:    41 (39 )

$750,000-$999,999: 16 (17)

 $1,000,000- $1,499,999:  5 (4)

$1,500,000- $2,999,999: 6 (5)

$3,000,000+                     2 (2)
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Average Price:    $878,797  ($887,266)

Median Price: $668,250 ($672,450)

Average Days on Market: 56 (56)

Highest Priced Listing: $3,950,000 ($3,950,000)

Lowest Priced Listing: $364,950 ($379,000)

This week’s closed sale:

$589,950  Rambler style home in Cameret/Little Tree with a list price of $599,950, on the market for 12 days sold 2% under full price.  This home is 2500 square feet with 5 bedrooms and 2.5 baths.

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Inventory in the area just went to more than 81 homes.  The largest concentration of available homes falls in the $500-750,000 price range, as it includes almost half of the homes currently for sale.  The inventory is almost double what was available in April. 

I see home sales every week (I’ve been involved in four multiple offer situations in the last 7 weeks!) and believe buyers are out looking for homes. But as I say each week, the best priced home in the best condition wins the buyer.  Homes in this market will sell if they are an attractive home and a value.