The year 2009 will continue to present all of us with new challenges, but homes will sell and buyers will buy those homes that are the best of the best.
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 (0)
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$0-$349,999: 3 (3)
$350,000-$499,999: 9 (10)
$500,000-$749,999: 25 (22)
$750,000-$999,999: 10 ( 8 )
$1,000,000- $1,499,999: 1 (5)
$1,500,000- $2,999,999: 1 (2)
$3,000,000+ 1 (1)
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Average Price: $771,271($785,000)
Median Price: $647,750 ($639,000)
Average Days on Market: 102 (112)
Highest Priced Listing: $3,950,000 ($3,950,000)
Lowest Priced Listing: $309,990 ($309,990)
Closed sales:
$610,000 Sheffield Greens tri-level with 5 bedrooms, 3.25 baths, and 2500+ square feet. Original list price of $678,000, final list price of $649,000. Sold for 11% below the asking price in 127 days.
The news is all about Microsoft these days. Since Microsoft is literally in our backyard, we have to pay closer attention than most. Our neighborhoods in Redmond have reaped terrific benefit all these years from our close proximity to Microsoft. The Redmond neighborhoods near Microsoft consistently showed the greatest chance of getting a home sold last year. Our location is still one of the best for commute and affordability on the eastside of Seattle, however, every area will have continue to have a tougher time this year. There are people still moving because it meets a need, whether for a job change or loss, marriage, birth of a child, etc. Homes will sell, but it will be those homes which are well priced, staged, and marketed on every internet venue possible with a stellar presentation. On my eastside blog, I will talk (with no names or places mentioned, of course) about the reasons I see buyers and sellers moving .
In my two previous posts on this blog, I talked about the changes happening with Microsoft. On one post, I tried to aggregate many of the articles/blog posts about the layoffs at Microsoft. I will certainly keep the neighborhood up to date via this blog with changes as I hear about them. If you know of any information I should be letting people know, please feel free to chime in.
West Redmond Real Estate Buzz
