The number of homes for sales in Redmond, near Microsoft remains on the lower end for the year. Gone on those weeks when the number of  homes available in Redmond near Microsoft was around 80 homes per week.   With the extension and expansion of the first time home buyers credit, this may be a great time to consider selling your home. Not only will first time buyers be the beneficiaries of the tax credit, but many move-up or move-down buyers can also get a piece of the home buyer tax credit, and that could mean you!

(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: 57 (56)

New listings: 3 (4)

$350,000-$499,999: 24 (20)

$500,000-$749,999: 16 (21)

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

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

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $647,021 ($638,771)

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

Average Days on Market: 114 (109)

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

Lowest Priced Listing: $224,950 ($280,000)

New listings: There were three new listings for sale this past week. There are now more homes for sale in Redmond below $500,000 than in the $500-750,000 price range.

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 were up this week as those home sellers on the market are trying to stay competitive.

Homes off the market (homes that did not sell): None

Home sales: One home sale closed this week.

Closed Sales Of The Week:

$375,000 last asking price: $399,000, original asking price: $429,000 sold in 89 days for 13% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-9-09  12,382,

58 more homes for sale this week than last, the first increase in numbers in the past month.  We’re back to same number of homes for sale as we saw in February.  The big difference is so many more homes are selling now than in February.