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.
Closed Sales: 1 (4)
———————————
$0-$349,999: 1 (2)
$350,000-$499,999: 11 (11)
$500,000-$749,999: 27 (27)
$750,000-$999,999: 10 (11)
$1,000,000- $1,499,999: 6 (5)
$1,500,000- $2,999,999: 3 (2)
$3,000,000+ 1 (1)
———————————–
Average Price: $822,144 ($800,246)
Median Price: $650,000 ($648,000)
Average Days on Market: 102 (95)
Highest Priced Listing: $3,950,000 ($3,950,000)
Lowest Priced Listing: $349,500 ($349,950)
The amount of homes for sale in Redmond, near Microsoft, has stayed at the same number for the last two weeks. The number of homes for sale has declined in recent weeks, much like the inventory in the rest of the county.
Closed sales:
$637,5 00 Braeburn daylight rambler with an original asking price of $686,000, final asking price of $650,000. The home sold in 22 days for about 8% below the original asking price.
***This home was an impeccable daylight rambler in a community with a clubhouse and a 9 hole golf course all close to Microsoft.
There’s a possibility interest rates will go well below 5% to 4.5% next year, which would be just terrific for home buyers, and subsequently, home sellers. Several articles were posted about the possibility of the new interest rates. Not everyone is of the mind that the lower rates will work. The Wall Street Journal’s take on the possible new rate, according to June Fletcher, is that the rates will not work.
The Housing Wire, a real estate blog, also voiced their opinion about the projected interest rates.
Last, but not least, NPR had a story on the new rates.
IMHO, more people need to feel confident in the economy to make a move.
West Redmond Real Estate Buzz
