Homes sales were happening in Redmond this past week. I’m back to reporting a healthy and consistent turnover of homes for sale with a good number getting offers this past week. Gone on those weeks when the number of  homes available in Redmond near Microsoft was around 80 homes per week.

The first time home buyer tax credit has been expanded and extended, which is great news for home sellers.  If you plan to make a move and are buying a home under $800,000, then you may be eligible to receive a tax credit. 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: 54 (57)

New listings: 2 (3)

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

$500,000-$749,999: 19 (16)

$750,000-$999,999: 8 (9 )

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

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

$3,000,000+ 0 (0)
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Average Asking Price of Homes for Sale: $643,703 ($647,021)

Median Asking Price of Homes for Sale: $550,000 ($559,850)

Average Days on Market: 123 (114)

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

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

New listings: There were two new listings for sale this past week. 

Pending inspections and pending: Home sales in Redmond are hopping again, with one home receiving and accepting an offer and 4 homes moving beyond the inspection with their offers for a total of 6!

Price reductions: Price reductions remained steady, but still not as many as we’ve seen in recent months.

Homes off the market (homes that did not sell): Four

Home sales: Five home sales closed this week.

Closed Sales Of The Week:

$344,950, last asking price: $349,950, original asking price: $349,950, sold in 9 days, 2% below the original price.

$400,000, last asking price: $400,000, original asking price: $585,000, sold in 268 days, 22% below the original price.

$431,000, last asking price: $450,000, original asking price: $450,000, sold in 16 days, 5% below the original price.

$518,000, last asking price: $549,000, original asking price: $575,000, sold in 42 days, 10% below the original price.

$725,000, last asking price: $749,950, original asking price: $799,950, sold in 257 days, 10% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-16-09  12,186

We are back to January’s numbers of homes and condos for sale in King County, among the lowest for the year!