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.

View Larger MapIn 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.

The area represented by the statistics posted below is Redmond, 98052, south of highway 908 and east of 140th Ave NE. The neighborhoods are all within shouting distance of Microsoft.  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.

Number of homes for sale: 64 (65)

New listings: 1 (5)

$0-$349,999: 3 (3)

$350,000-$499,999:18 (20)

$500,000-$749,999: 20 (19)

$750,000-$999,999: 14 ( 14 )

$1,000,000- $1,499,999: 6 (6)

$1,500,000- $2,999,999: 3 (3)

$3,000,000+ 0 (1)
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Average Asking Price of Homes for Sale: $730,296 (736,556)

Median Asking Price of Homes for Sale:  $584,250 ($579,500)

Average Days on Market:92 (89)

Highest Priced Listing: $2,685,000 ($2,685,000)

Lowest Priced Listing: $320,000 ($320,000)

The real estate activity in Redmond, near Microsoft, is fairly constant with the number of homes for sale remaining almost the same the last few weeks.  Sales seem to be slow, but progressing.  Last week, it appeared Seattle real estate activity was picking up.  More buyers are out looking and making offers on the eastside.  In Redmond, the offers will come, but the prices will remain the same or lower.  Buyers will still be negotiating.

In the last week, my team and I sold two homes in another eastside neighborhood. One home had multiple offers.  This means there were two buyers who were interested in the same house at the same time.  Both buyers made offers and this house still did not sell for full price.  In the “old” real estate days, the offers would be over full price.  In today’s real estate market, buyers are cautious about over spending.  They are watching prices decline, so they are negotiating when making an offer.

March, 2009 real estate statistics will be posted shortly.  Have a great holiday weekend.