The first 31 days of 2010 are gone. They’ve been busy days in the world of real estate.  There have been several homes in the Microsoft area of Redmond that have sold in a matter of days. Because of the 2010 home buyer tax credit, low interest rates, and and reasonable number of properties available, there’s pent up demand for the good homes that are a also a good value.

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: 45 (47)

New listings: 2 (3)

$350,000-$499,999: 13 (13)

$500,000-$749,999: 18 (17)

$750,000-$999,999: 3 (4 )

$1,000,000- $1,499,999: 5 (6)

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

$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: $769,047 ($779,116)

Median Asking Price of Homes for Sale: $619,000 ($619,000)

Average Days on Market: 128 (117)

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

Lowest Priced Listing: $279,000 ($345,000)

New listings: two this week. 

Pending inspections and pending: Three homes received offers,from the 300′s up to the high 700′s.  Two homes have pending offers, which means the buyer and seller have agreed on a building inspection and are now moving towards closing.

Price reductions: three this past week.

Homes off the market (homes that did not sell) Three homes are off the market.

Closed home sales: one this week

Days on Market: Starting to creep up as it is now 128 days.

Closed Sale Of The Week:

$445,000 last asking price of $469,800, original asking price of $469,800, sold in 53 days for 6% below the original asking price.

Peak of homes for sale in 2009:

7-27-09   13,861

Now:

2-1-10  10,735   an increase of over 1000 homes for sale in King County since the first of the year.  This week, there are 8 less properties  for sale.  There’ s a good number of homes and condos for sale, but not an overwhelming amount.

Number of King County Properties for Sale, 2-01-10