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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 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: 75 (73)
New listings: 6 (7)
Sold Contingent: 1 (0 )
Pending inspection:6 10)
Pending: 3 (5)
Closed Sales: 0 (6)
Rented: 0 (0)
Price Reductions: 2 (11)
Price Increases:0 (0)
Expired Listings: 2 (2)
Canceled Listings: 0 (0)
Temp Off Market: 0 (1)
Back on Market: 0 (0)
Re-listed: 1 ( 1)
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$0-$349,999: 1 (2)
$350,000-$499,999: 24 (26)
$500,000-$749,999: 33 (34)
$750,000-$999,999: 9 ( 9 )
$1,000,000- $1,499,999: 7 (7)
$1,500,000- $2,999,999: 0 (3)
$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: $679,685 ($679,394)
Median Asking Price of Homes for Sale: $580,000 ($580,000)
Average Days on Market: 88 (90)
Highest Priced Listing: $3,400,000 ($3,400,000)
Lowest Priced Listing: $315,000 ($315,000)
New listings: New listings keep coming up on the market, although we have less for sale the past few weeks than we did about a month ago when over 80 homes were for sale.
Price reductions: There were only a couple of price reductions. Hopefully, this means sellers are pricing their homes to meet the market. Over the previous two weeks, 11 homes underwent price reductions.
Home sales: Six homes received offers and are working through inspections and 3 homes had the inspections satisfied and are now pending. As I mention before, there is a healthy turnover of homes for sale. We see a good number of homes coming on the market each week and a good number receiving offers. This points to the more balanced market we see between buyers and sellers. A more balanced market means some homes will sell quickly if they show well and are priced right. Other homes will undergo price reductions and a longer marketing time and some homes will not be sold because they are overpriced for the real estate market.
Closed Sales Of The Week
None this week.
Have a great weekend!
West Redmond Real Estate Buzz
