The number of homes for sale on Seattle’s eastside, 2943, is the lowest we’ve seen since the spring of 2007.  March, 2007 was the last time the number of homes for sale on the eastside was under 3000!  The number of homes for sale in Redmond right now mirrors this trend.  With the extension of the home buyer tax credit and the lower numbers of homes for sale, if you’re going to sell your home, get started now, rather than later in 2010.

However, Redmond home sales were slow the past week couple of weeks.

For this week’s full report see below:

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: 49 (52)

New listings: 1 (1)

$350,000-$499,999: 20 (23)

$500,000-$749,999: 13 (15)

$750,000-$999,999: 7 (6 )

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

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

$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: $729,388 ($701,273)

Median Asking Price of Homes for Sale: $579,000 ($545,000)

Average Days on Market: 152 (140)

Highest Priced Listing: $4,280,000 ($4,280,000)

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

New listings: one this week. 

Pending inspections and pending: Redmond home sales continue to be slow. Two homes received an offer and two home sales went to a pending sale after a building inspection was agreed upon between the buyer and seller.

Price reductions: Just a couple this week, because there are less homes for sale now.

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

Home sales: Two home sales closed this week which means the new owner has taken ownership.

Days on Market: are increasing each week and now stand at an average of 147 days to sell a Redmond home near Microsoft.

Closed Sales Of The Week:

$390,000, last asking price: $424,950, original asking price: $439,000, sold in 142 days,  12% below the original price.

$565,000, last asking price: $574,950, original asking price: $574,950, sold in 9 days,  2% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

12-21-09  10,825

****Now the lowest weekly number of properties for sale in King County in all of 2009. the number keeps dropping.****  This is huge news.  If you’re thinking of making a move in 2010.  Move sooner, rather than later.  Take advantage of the lower number of homes on the market and the 2010 tax incentive.

Happy New Year and the best in 2010!