Redmond, near Microsoft, and East Bellevue (east of 405) home sales hot price of the week:

• Most number of home sold: $300-399,999 and $500-599,999
• 9 homes sold in each price range.
• New hot price for Redmond home sales:  In 8 out of 8 weeks, the $300-399,999 range has been the hottest.  Although, like this week, another price range has also been “hot.”
  
• Most number of homes for sale: $400-499,999   52  homes for sale.    (same as last week)
• All Redmond and East Bellevue home sales in the Microsoft area were below $799,999.
• There were 219 homes for sale and 25 homes sold in East Bellevue and Redmond, near Microsoft, last week, 100% more than last week when only 12 homes sold!

• Best week to sell your home in the last 7 weeks?    1-27-10 with 26 home sales.
• Most homes for sale in the last 7 weeks?        2-17-10, with 224 homes were for sale.

• Peak of the number of homes for sale in King County in 2009?
• July 27th- a high of 13,861 homes for sale

• Week of 1-4-10
• 9726

• Week of 2-22-10
• 11,583
  

Less than 65 days are left for buyers and sellers to benefit from the home buyer tax credit. The home buyer tax credit is available to most buyers purchasing a home for less than $800,000, not just for first time home buyers.

With strong interest rates and the 2010 home buyer tax credit, it looks like the first quarter of 2010 has been a great time to either buy or sell a home in Redmond, WA.  The first part of 2010 has been the best real estate market we’ve had for both Redmond home buyers and sellers in several years.

Redmond and East Bellevue, WA Home Sales 2-24-10

This chart is updated weekly by Windermere Real Estate/East Inc., using MLS data to show the price ranges of the homes sold each week.

Here’s how it’s set up:

The colors show who has the advantage in a particular price range.

• Green means the buyer has the advantage with many homes to choose from and not that many selling.
• Yellow means the number of homes for sale and the number of sales in the price range is balanced between the buyer and the seller.
• Red indicates a sellers’ market where the seller may have the advantage as more homes are selling when compared to what’s available.

Down the side of the chart, the home sales activity is broken down into a price bracket of $99,999. All the homes priced between $400,000-499,999, as an example, are put together in one price category in the chart.

Across the top, the chart is broken down into real estate activity by the week.

If you take the $400-499,999 line and follow it across the chart, you’ll see what has happened each of the last seven weeks.  There are three columns under each week. On the left side of the column is the number of homes for sale in East Bellevue and Redmond, near Microsoft.  The middle column shows how many homes sold that week, and the final column under the date shows the months supply of homes for sale.  In other words, if no other homes came up for sale, it would take 4.9 months to sell all of the homes in the $400-499,999 price range.