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.
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In real estate terms, we call this area 530. The area of Redmond called Education Hill is north of Redmond Town Center 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 (1)
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$0-$349,999: 3 (3)
$350,000-$499,999: 10 (9)
$500,000-$749,999: 23 (25)
$750,000-$999,999: 13 ( 10 )
$1,000,000- $1,499,999: 3 (1)
$1,500,000- $2,999,999: 1 (1)
$3,000,000+ 1 (1)
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Average Price: $763,113($771,272)
Median Price: $647,750 ($647,750)
Average Days on Market: 103 (102)
Highest Priced Listing: $3,950,000 ($3,950,000)
Lowest Priced Listing: $309,990 ($309,990)
Closed sales:
$510,000 Gleneden mid-entry home with 4 bedrooms, 2.5 baths, and 2300+ square feet. Original list price of $549,950, final list price of 529,950. Sold for 8% below the asking price in 74 days.
***I sold this home. The home was well priced to start, but when the market changed, the seller reacted quickly with the necessary price reduction. We received many comments from both agents and buyers about how well this home showed. It was staged professionally. The combination of realistic pricing, professional photos, and a beautifully staged home snagged a buyer for the home.
Here’s a link to the video of the home. You can see how terrific it looked with its staging. Staging a home really works. The video was done by Lane Freedle of www.go2virtual.com and posted on Wellcomemat.
President Obama’s stimulus bill has passed the house and is now on its way to the Senate. This link takes you to an article I wrote about some of the key real estate incentives proposed by the 2009 stimulus plan.
West Redmond Real Estate Buzz
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Thanks!