Redmond, WA  real estate had an interesting week.  Six home sales closed. Two of the home sales were at the asking price or over it.  Three other homes sold within 3-5% of the asking price.

Considering the fact the real estate market is slower, this is great news.  If a home is priced right and is a good value, it will sell in a short amount of time and for a good price. (see this week’s sales below.)  In order to make the cut, which means be the house the buyer makes an offer to buy,  buyers need to feel they are getting a good value and a good price.  If your home is not the best value, your home will not get the offer. You will help to sell another home instead!

For this week’s full report see below:

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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.  All numbers are gathered on Mondays from NWMLS (Northwest Multiple Listing )information.  The area of Redmond called Education Hill is north of Redmond Town Center and is not part of this report. The numbers in parentheses indicate the previous week’s totals.

Number of homes for sale: 53 (56)

New listings: 3 (1)

$350,000-$499,999: 19 (22)

$500,000-$749,999: 20  (18)

$750,000-$999,999: 4 (6)

$1,000,000- $1,499,999: 2 (2)

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

$3,000,000+ 1 (1)
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Average Asking Price of Homes for Sale: Information not available this week (With the new NWMLS system this should be available later this summer.)

Median Asking Price of Homes for Sale: Same as above

Average Days on Market: Ditto

Highest Priced Listing: $3,925,000 ($3,925,000)

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

New listings: The new listings were priced in the $500′s to the low 600′s.  

Pending inspections and pending: There was one offer this past week for a home priced in the $400′s.

Pending home sales ranged from just under $700,000 to the high $900′s.

Price reductions: Seven homes this week, which is on the higher side.

Price increase: None

Homes off the market (homes that did not sell) Five homes were taken off the market.

Closed home sales: Six home sales closed, which means the sale was completed.

Days on Market: N/A

Median price: N/A

Closed Sales Of The Week:

Sales price: $359,000 Last asking price: $359,000, Original asking price: $359,000, sold in 5 days for FOR FULL PRICE.

Sales price: $424,000 Last asking price: $435,000, Original asking price: $435,000, sold in 26 days for for 3% below the asking price.

Sales price: $432,000 Last asking price: $454,000, Original asking price: $454,000, sold in 33 days for 5% below the original asking price.

Sales price: $465,000 Last asking price: $489,950, Original asking price: $519,500, sold in 172 days for for 11% below the original asking price.

Sales price: $500,000 Last asking price: $499,950, Original asking price: $499,950, sold in 12 days for slightly above full price.

Sales price: $800,000 Last asking price: $835,000, Original asking price: $850,000, sold in 37 days for 6% below the original asking price.

Peak of homes for sale in King County, WA in 2009:

7-27-09   13,861

This year, in 2010:

1-4-10       9726

9-7-10    14,172

So far, the highest number of King County homes and condos for sale was the end of July when the number hit 14,639. This is truly ironic since the high for last year was the same week of the year.

King County homes for sale numbers are beginning their fall drop, which is typical, and also good for the market.