The number of homes for sales in Redmond, near Microsoft continues to drop, which is still a very good thing. With the possible extension and expansion of the first time home buyers credit, this may be a great time to sell your home.

WordPress, which is the blogging platform I use,  doesn’t seem to want me to insert the link into this article, so here it is.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a65ONhTk4C7Q

(The weekly real estate buzz post has moved and will now be published at the beginning of each week.  The “Hot Sales Price of the Week” will now be posted at the end of each week.)

For this week’s full report see below:

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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 on Monday morning from NWMLS (Northwest Multiple Listing )information.

Number of homes for sale: 56 (59)

New listings: 4 (3)

$350,000-$499,999: 20 (20)

$500,000-$749,999: 21 (22)

$750,000-$999,999: 9 (9 )

$1,000,000- $1,499,999: 4 (5)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $638,771 ($637,089)

Median Asking Price of Homes for Sale: $572,475 ($559,850)

Average Days on Market: 109 (116)

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

Lowest Priced Listing: $280,000 ($244,950)

New listings: There were four new listings for sale this past week, a reasonable number of new listings.

Pending inspections and pending: Sales are not as fast and furious as a few months ago, but sales are still happening and competition is lessening because fewer homes are on the market.

Price reductions: Price reductions are happening, but at a slower pace than even a few weeks ago.

Homes off the market (homes that did not sell): Four homes are no longer for sale.

With the decrease in the number of homes for sale, less home prices are being reduced.

Home sales: Two homes closed this week.

Closed Sales Of The Week:

$323,000 last asking price: $339,000, original asking price: $357,000 sold in 26 days for 10% below the original price.

$455,000 last asking price: $465,000 original asking price: $465,000, sold in 198 days for 3% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-2-09  12,324

The number of homes for sale in King County continues to drop.  The last time we saw a similar number of homes for sale was back in February of this year.  There are about 1000 less homes available than three months ago.