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: 68 (71)

New listings: 1 (2)

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

$350,000-$499,999: 23 (22)

$500,000-$749,999: 28 (30)

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

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

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $652,555 ($681,993)

Median Asking Price of Homes for Sale: $575,000 ($579,000)

Average Days on Market: 120 (117)

Highest Priced Listing: $1,690,000 ($2,950,000)

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

New listings: One home came on the market for sale.

Price reductions: This week’s price reductions happened all over the map from the $300′s to the 3 million dollar range.

Home sales: Were also in a variety of price ranges.  Our most expensive home had been $3.45 million, was reduced by $1 million to $2.45 million, and received an offer.

Closed Sales Of The Week:

$425,000 Sunny Ridge tri-level home with 1860+ square feet, 3 bedrooms, 2.5 baths, sold within 6% of the original asking price of $450,000 and a final asking price of $440,000.

****Sunny Ridge is a cute U-shaped street east of Microsoft with some great homes.  This home was at a good price point in a nice neighborhood within a short distance to the main Microsoft campus.

$445,000 Burnstead two story with 2020 square feet, 3 bedrooms, 2.5 baths, built in 1984.  Originally listed with another agent for $480,000, my team and I re-listed the home at $469,950 and then sold it fairly quickly.  Final sales price was 7% below the original asking price.

****Great two story with a huge backyard.  Lots of great light and only minutes to the main Microsoft campus.  It also helped to have terrific listing agents

$540,000 newer style multi-level home built in 2007 with 2618 square feet and 4 bedrooms, 2.5 baths, sold in 95 days for 7% below the original asking price of $579,900.

****Newer homes which are closer in to jobs are selling well.

$700,000  Two story with 2590 square feet, built in 1985 sold in 21 days for 7% below the original asking price of $750,000.

****Gorgeous remodel in a great neighborhood with even more expensive homes.  Located only blocks from Microsoft, the commute could not have been better!

Peak of homes for sale so far for 2009:

7-27-09   13,861

9-14-09  13, 357

Don’t forget, the first time buyer $8000 tax credit is going away soon. First time home buyers must close on a home purchase no later than November, 30th, 2009 to be eligible for the tax credit.  This means it’s best to purchase a home no later than mid-October in order to close on time.