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: 65 (68)

New listings: 4 (1)

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

$500,000-$749,999: 27 (28)

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

$1,000,000- $1,499,999: 6 (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: $656,271 ($651,682)

Median Asking Price of Homes for Sale: $568,975 ($572,475)

Average Days on Market: 126 (126)

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

Lowest Priced Listing: $279,950 ($289,950)

This week there have been a number of closings and price reductions.

New listings: Four homes are new on the market, but the number of homes for sale is still declining.  Only a couple of months ago there were over 80 homes for sale in the area.  Since there are still a good number of homes available, this is good for both buyers and sellers.

Pending inspections and pending: This past week the sales were all below the 550k range.

Price reductions: were in all price ranges from the 200′s to over 1 million dollars.

Home sales: There were none this week, which is highly unusual for the neighborhoods around Microsoft.

Closed Sales Of The Week:

None this week!

Peak of homes for sale so far for 2009:

7-27-09   13,861

9-28-09  13,388

***Only 31 homes and condos have come up on the market in all of King County in the last two weeks, more good news for the local real estate market.

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.