Redmond and East Bellevue Real Estate Sales, October 2009

Sellers had 19% odds of getting a home sold in West Redmond and East Bellevue, both neighborhoods near Microsoft, in October, 2009.  (The NWMLS, the Northwest Multiple Listing Service puts the data together from East Bellevue and the Redmond area around Microsoft.)

If you check the link above, it shows  the 5 year trend in real estate.  The numbers for the Trendgraphix chart may vary slightly from the MLS statistics posted in the above link, but the variation is slight.  The overall trend in the market is the same.

October, 2009          253 homes for sale      47 homes sold                  19% odds of selling

October, 2008          332 homes for sale      29 homes sold                   13% odds of selling

*Adjusted sales numbers reflect sales that failed and did not close.

Nineteen out of 100 homes received and accepted offers in October.  The numbers for September had shown 79 homes had sold, but only 73 of those sales stayed together.  The numbers on the chart are adjusted to reflect the actual number of home sales that did close.

What’s happening with real estate prices in Redmond and East Bellevue?

The median sales price decreased by 8% to $445,000 from $484,725, the number of homes for sale declined by 23.5%, and the number of homes sold in Redmond increased by 59%. 

For the full picture of Seattle-Eastside real estate, check out my eastside real estate blog.

Looking for more national real estate information? The Seattle-Eastside area is certainly not alone in declining home values. However, with the passage of a bill giving more widely available tax credits to home buyers, I hope to see the number of Redmond home sales remain strong.