Redmond is back on top for having the best odds of selling a home on Seattle’s eastside! I’ll be publishing the monthly statistics for January’s real estate sales in Redmond in the next few days, but thought I would pass along the “hot” news.

This past week there were some Redmond home sales that “popped” within a week of going on the market.  One home had been on the market last year, did not sell then, and sold in less than 7 days this year.   Of the three homes that got offers this week, two were on the market a week or less!  

There are only 81 days left to find a home, have an offer accepted, and use the  2010 home buyer tax credit.

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: 44 (45)

New listings: 2 (2)

$350,000-$499,999: 11 (13)

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

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

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

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

$3,000,000+ 2 (1)
———————————–
Average Asking Price of Homes for Sale: $888,795 ($769,047)

Median Asking Price of Homes for Sale: $632,000 ($619,000)

Average Days on Market: 127 (128)

Highest Priced Listing: $4,925,000 ($4,280,000)

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

New listings: two this week. 

Pending inspections and pending: Three homes received offers.  Four homes are now pending, which means the buyer and seller have agreed on the results of a home 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: Two homes this week

Days on Market: Similar to last week at 127 days.

Median price: jumped up about $100,000 because of the new listing on the market priced just under $5,000,000.

Closed Sales Of The Week:

$380,000 last asking price of $385,000, original asking price of $385,000, sold in 5 days for 1.5% below the original asking price.

$708,000, last asking price of $675,000, original asking price of $675,000, sold in 5 days for 5% above the asking price.

Peak of homes for sale in 2009:

7-27-09   13,861

Now:

2-8-10  11,102

The number of homes for sale in King County is doing its typical heading to spring “creep up.”  There’s an increase of over 1000 homes for sale in King County since the first of the year.  There’ s still a good number of homes and condos for sale, but not an overwhelming amount.