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: 69 (69)

New listings: 2 (3)

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

$350,000-$499,999:22 (22)

$500,000-$749,999: 24 (23)

$750,000-$999,999: 13 ( 14 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $695,798 (700,725)

Median Asking Price of Homes for Sale:  $570,000 ($577,450)

Average Days on Market:92 (90)

Highest Priced Listing: $2,388,000 ($2,388,000)

Lowest Priced Listing: $299,900 ($320,000)

We’re seeing stronger real estate sales on Seattle’s Eastside.  This week’s real estate activity for the eastside ranks among the top ten weeks for home sales since July of 2007!  What’s happening in Redmond?  If you look at the monthly update in which I talk about the absorption rate, the chances of selling in Redmond and East Bellevue are back on top of all the areas of Seattle’s Eastside. In April, the number of homes for sale was down and the number of homes sold was up!

This week’s good news is the $8000 tax credit to first time buyers can, in fact, be used for the buyer’s down payment. This will continue to help boost real estate sales as more buyers are able to enter the market.

Closed Sales Of The Week

$295,000 Rambler  near Microsoft home with 1840 square feet and 3 bedrooms, 1.75 baths. Last asking price was $380,000.  Originally priced at $475,000 and was on the market for 235 days total before it sold.  Sold for 38 % below the original asking price.

****I have not seen this home, but the selling price has got to be the reason it sold.  Nothing in the area has sold anywhere near this price.

$459,000 Mid-entry home east of Microsoft, originally priced at $499,900 with a last asking price of $475,000.  Sold for 9% below the original asking price in 197 days.

****This was a great price for this home.  Although located on a busier road, some of its competition has been priced over $500,000.