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: 71 (74)

New listings: 2 (7)

$0-$349,999: 3 (2)

$350,000-$499,999: 22 (24)

$500,000-$749,999: 30 (29)

$750,000-$999,999: 7 (10 )

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

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $681,993 ($691,081)

Median Asking Price of Homes for Sale: $579,000 ($599,950)

Average Days on Market: 117 (109)

Highest Priced Listing: $2,950,000 ($2,950,000)

Lowest Priced Listing: $289,950 ($299,950)

New listings: Two homes came on the market for sale.

Price reductions: This week’s price reductions happened in the more affordable end of the price range.  All three homes with reduced prices were below $400,000.

Home sales: One home with an offer this week was priced around 400k, two were priced just under 500k, and the third home was priced over 900k.  Two of the homes sold fairly quickly, while one home was on the market for almost 300 days with a number of price reductions.

Market time has increased slightly.

Closed Sales Of The Week:  There were a lot last week, because I covered three weeks of information in last week’s post.  This week was quieter with one sale closing.

$639,000 Pinehurst home built by Burnstead with 2500+ square feet, 3 bedrooms, 2.5 baths, sold in 15 days within 2% of the original asking price.

****This home was my listing and it was outstanding.  It was beautifully updated with slab granite, new windows, a new roof, a top notch builder, and more.  The original owners had maintained it beautifully, as there wasn’t a scratch on anything.  The yard was also wonderful and private and the home was on a cul-de-sac.

I keep watching the total number of listings for sale in King County each week and it continues to look like the end of July was the peak so far for 2009.

7-27-09  13,861

8-31-09 13, 439

Enjoy the weekend sun, we need to make up for last week’s terrible rain!