Sellers had a 23% chance of getting a home sold in West Redmond and East Bellevue, both neighborhoods near Microsoft, in June, 2009.

(the numbers for the chart may vary slightly from the MLS statistics posted in the above link, but the variation is slight.  The overall trend in the market is the same. The other charts also show the 5 year trend in real estate.)

June, 2009             291  homes for sale     68 homes sold          23% chance of selling.

May, 2009               289 homes for sale     57 (64) homes sold   20% (23%) chance of selling.

June, 2008             325 homes for sale,     55 homes sold,         17% chance of selling.

Real estate sales in Redmond continues to improve from the first of the year. Twenty-three out of 100 homes received offers in May, but then some of those sales did not stay together.  When June began, the numbers showed 64 homes had sold, but  now we see that only 57 of these sales stayed together. Trendgraphix’s adjusts their numbers as the failed sales are reported.   So the reality is 20% of the homes for sale in May sold, not 23%.

I’m going to do a little digging to see if there are trends as to why some sales are falling apart.  I have my suspicions about why, so if I find out enough good information I’ll write a post about it on my eastside blog.

What’s happening with real estate prices in Redmond?

The median sales price decreased to $499,950 from $549,500 a decrease of 9%.

For the full picture of June’s real estate activity for the Seattle eastside, check out my eastside blog.