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 rhe last two week’s totals, because of the Fourth of July holiday. 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: 73 (82)

New listings: 7 (0)

$0-$349,999: 2 (2)

$350,000-$499,999:  26 (28)

$500,000-$749,999: 34 (36)

$750,000-$999,999: 9 ( 11 )

$1,000,000- $1,499,999: 7 (7)

$1,500,000- $2,999,999: 3 (4)

$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: $679,394 ($710,098)

Median Asking Price of Homes for Sale:  $580,000 ($579,950)

Average Days on Market: 90 (88)

Highest Priced Listing: $3,400,000 ($3,400,000)

Lowest Priced Listing: $315,000 ($299,995)

New listings: 7 new listings over the past two weeks, which is good, since there were over 80+ homes on the market the last few weeks.

Price reductions: There were 11 price reductions this week, which means there are many sellers who are still trying to find the right price to get their homes sold. With the increase in the number of homes for sale over the last few weeks, each seller has faced new competition.

Home sales: Ten homes received offers and are working through inspections and 5 homes had the inspections satisfied and are now pending.  I excited to see the amount of real estate activity going on in Redmond.  It’s great to see so many homes selling in Redmond.   The 10 homes getting offers this week were mostly priced between $300-650,000, with one over $1 million dollars.  Several homes that sold this week received offers in a matter of days.  It’s good to see some of the homes that are priced right and show well selling quickly again.

Closed Sales Of The Week

$485,000  Trilevel in Littleview, near NE 24th with 3 bedrooms, 2.5 baths, and 1800 square feet.  Original asking price of $499,500, sold for $485,000 in 13 days, 3% off the original asking price. 

****Well priced home.

$515,000 two story in Littletree (popular neighborhood this week) 4 bedrooms, 2.5 baths, 1800 sq ft. sold in 61 days 6% below the asking price.

****Drop dead gorgeous remodel.

$535,000 trilevel in Sheffield Greens with 4 bedrooms, 2.5 baths, and 2200 sq. ft.  Original asking price of $640,000, last asking price of $550,000, sold in 176 days for 17% below the original asking price.

****again, it became a killer deal, but was not initially.

$541,000 Gleneden trilevel with 4 bedrooms, 2.5 baths, 2530 sq. ft.  Original asking price of $579,500, final asking price of $559,500, sold in 59 days for 7% below the starting price.

****stylish kitchen remodel.

$650,000 Sheffield Court two story with 2509 sq. ft. 4 bedrooms, 2.5 baths.  Original asking price of $694,500, last asking price of $669,000.  Sold for 7% below the starting price.

****beautifully redone, extensive hardwood floors, remodeled kitchen, master bath, and a mountain view.

$760,000 Grasslawn Village two story with 3 bedrooms, 2.5 baths, and 3290 sq. ft.  Origianl asking price of $799,777, this sold for 5% below the asking price.

****Georgeous home, with terrific detail and finish work. 
The Seattle PI had an interesting article about the  local real estate market. The Seattle real estate market is stronger than much of the rest of the west.

Sales of existing houses and condos in May were up just over 30 percent from April in King County, compared with increases of 6.6 percent in the West and 9.2 percent nationwide, according to data from the Northwest Multiple Listing Service and the National Association of Realtors.

But county sales were down 20 percent from May 2008, compared with an increase of 8.7 percent in the West and a 6.6 percent drop nationwide.

The market has been fueled by first time buyers with 29% of  home sales being purchased by first time buyers.