West Redmond Real Estate Buzz

 The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Thursdays from NWMLS information. 

 
Active Listings:  70(73) 

New listings:   4(7)

Pending inspection: 5 ( 8 )

Pending: 5 (2)

Closed Sales: 4 (2)

Sold Contingent:3 (1)

Rented: 0(0) 

Price Reductions:  3 (3)

Price Increases:     0(0)

Expired Listings:2 (1)

Cancelled Listings:3 (4)

Temp Off Market:  0(0)

Back on Market: 0(0)

Rented  0 (0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  6(6)

$500,000-$749,999:   39 (42 )

$750,000-$999,999: 14 (13)

 $1,000,000- $1,499,999:  5 (7)

$1,500,000- $2,999,999: 4 (3)

$3,000,000+                     2 (0)
———————————–
Average Price:    $900,391  ($869,127)

Median Price: $683,000 ($677,000)

Average Days on Market: 58 (62)

Highest Priced Listing: $3,950,000 ($3,950,000)

Lowest Priced Listing: $379,950($379,950)

This week’s closed sales:

$429,500 Rambler style View Ridge home list price of $450,000, on the market for 74 days sold 5% below asking price. 

$485,000 Meadows single family home, on market for 40 days, asking price of $508,000 sold for 5% below asking price.   ***my listing

$520,000 Bristol rambler with 1670 square feet, original asking price of $534,950, sold in 52 days for 3% below asking price.   ***my listing

$557,000 Hollybrook two story with 2400+ square feet, 4 bedrooms, and a view, originally listed for $564,950, sold in 19 days, sold for 1.5% below asking price.

$776,000 Sheffield Greens two story 4 bedrooms, 2.5 baths, 2640 square feet, original price of $785,000, sold in 36 days, sold almost 3% below asking price.

Although inventory is high, there’s been great sales activity the last couple of weeks as 13 homes have sold.

Come on down to the City of Redmond Maintenance Operations Center at 18120 NE 76th St on July 19th, 2008 from 9:30 AM to 4:00 PM.  Bring all those items you’ve ever wanted to get rid of, but were afraid to do.  Here’s your chance to unload household items.  Go for it!

For more details, check out the City of Redmond website.  More specific directions are given regarding the recycling event on the site.  Happy recycling!

Need to leave some things at the curb?  Now through August 1st, Redmond single family home owners who live within the city limits can leave electronic units at the curb for pickup.  Check the link above for more complete details.

Don’t forget, all drivers must make sure their loads are secure.

The numbers are Thursday’s totals.  Oh by the way, I took last week off because of July 4th, so this is a compilation of two weeks worth of data.

 The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Thursdays from NWMLS information.  
Active Listings:  73(68) 

New listings:   7(7)

Pending inspection: 8 (4)

Pending: 2 (5)

Closed Sales: 2 (4)

Sold Contingent: 1(3)

Rented: 0(0) 

Price Reductions:  3 (4)

Price Increases:     0(0)

Expired Listings: 1 (2)

Cancelled Listings:4 (1)

Temp Off Market:  0(0)

Back on Market: 0(0)

Rented  0 (0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  6(6)

$500,000-$749,999:   42 (36 )

$750,000-$999,999: 13(14)

 $1,000,000- $1,499,999:  7 (8)

$1,500,000- $2,999,999: 3(4)

$3,000,000+                     2 (0)
———————————–
Average Price:    $869,127  ($852,514)

Median Price: $677,000 ($683,000)

Average Days on Market: 62(62)

Highest Priced Listing: $3,950,000 ($3,080,000)

Lowest Priced Listing: $379,950($379,950)

This week’s closed sales:

$639,000  Spiritbrook two story,  list price of $650,000, original list price of $728,000 on the market for 188 days sold 13% below asking price. 

$700,000  Sheffield Greens two story home  original list price of $738,000 on market for 176 days.  sold 5.1% below asking price.

Redmond, Washington was listed as one of the top neighborhood spots in the Seattle area in the July issue of Seattle magazine. The magazine did a pretty thorough study of what each city or neighborhood has that sets it apart from the other areas.  Redmond showed up on both of the magazine’s top ten lists.  One list included all neighborhoods and cities in the Seattle area, and one list was just suburban cities. Of the 110 top Seattle neighborhoods and suburban cities, Redmond came in at #6.  When compared to other suburban cities, Redmond came in at #4. 

The magazine found people who live in Redmond:

• Ride Horses
• Play soccer
• Rollerblade
• Play tennis
• Rock climb
• Race bicycles
• Walk
• and are often Techies.

Redmondites are a very smart, athletic bunch!

 Check the magazine’s July issue out. Every area of Seattle is measured for affordability, crime, WASL scores, minutes to downtown Seattle, and % of home appreciation. 

These are important things, but what’s important to you?  What are your favorite reasons for living in Redmond, Washington?  There are a lot of great reasons why people have chosen to live here rather than in other parts of the country and other Seattle area neighborhoods.  What’s your fave reason for living in Redmond?

The numbers will now be a reflection of totals from Thursdays.  This will help get the data to you before the weekend, whenever possible.  In Seattle summer may finally be here this weekend!

 The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Thursdays from NWMLS information.  
Active Listings:  68(68) 

New listings:   7(4)

Pending inspection: 4 (1)

Pending:  5 (3)

Closed Sales:  4(1)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  4 (0)

Price Increases:     0(0)

Expired Listings: 2(2)

Cancelled Listings: 1(1)

Temp Off Market:  0(0)

Back on Market: 0(0)

Rented  1 (0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  6(5)

$500,000-$749,999:   36(36 )

$750,000-$999,999: 14(14)

 $1,000,000- $1,499,999:  8 (7)

$1,500,000- $2,999,999: 4(4)
———————————–
Average Price:    $852,514   ($819,028)

Median Price: $683,000($675,000)

Average Days on Market: 62(62)

Highest Priced Listing: $3,080,000 ($2,995,000)

Lowest Priced Listing: $379,950($379,950)

This week’s closed sales:

$420,000  Meadows town home,  list price of $435,000.   on the market for 62  days sold 4% below asking price. 

$615,000  Tam O’Shanter midentry home  original list price of $635,000 on market for 51 days.  sold 4% below asking price.

$840,000 Park Pointe two story home original list price of $849,950 on market for 27 days, sold  2% below asking price.

$1,250,000 Lake Sammamish waterfront. list price of $1,395,000, original list price of $1,500,000.  sold 17% below asking price.

The numbers will now be a reflection of totals from Thursdays.  This will help get the data to you before the weekend, whenever possible.  If the sun is out, I imagine you’ll want to be out and about, rather than looking at real estate data!

 The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Thursdays from NWMLS information.  
Active Listings:  68(68) 

New listings:   4(5)

Sold subject to inspection: 1(4)

Pending:  3 (1)

Closed Sales:  1(2)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  7(0)

Price Increases:     0(0)

Expired Listings: 2(0)

Cancelled Listings: 1(4)

Temp Off Market:  0(0)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(5)

$500,000-$749,999:   38(36 )

$750,000-$999,999: 14(14)

 $1,000,000- $1,499,999:  7 (9)

$1,500,000- $2,999,999: 4(4)
———————————–
Average Price:    $819,028 ($847,153)

Median Price: $675,000($683,000)

Average Days on Market: 62(61)

Highest Priced Listing: $2,995,000 ($2,995,000)

Lowest Priced Listing: $379,950($379,950)

This week’s closed sale was at $719,000 down from $749,000 with an original list price in the mid 800’s.  It was on the market for 108 days. 

But I’m back with a slightly different version of the weekly real estate statistics in Redmond. This report shows this week and last’s real estate numbers. I’ll continue to report the number of new listings, pendings, days on market, etc.  However, my weekly updates will report the specific information on closed sales only.  These are the sales in which the sale has closed and the new owner has taken over.  In this market, I find it helpful to see the original asking price of a home, its final list price, and the actual sales or closing price. 

In addition, the numbers will now be a reflection of totals from Thursdays.  This will help get the data to you before the weekend, whenever possible.  If the sun ever comes out here, I imagine you’ll want to be out and about, rather than looking at real estate data!

The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Thursdays from NWMLS information.  
Active Listings:  68(71) 

New listings:   5(6)

Sold subject to inspection: 4(2)

Pending:  3(1)

Closed Sales:  1(2)

Sold Contingent: 0(0)

Rented: 0(0) 

Price Reductions:  0(4)

Price Increases:     0(0)

Expired Listings: 0(0)

Cancelled Listings: 4(1)

Temp Off Market:  0(0)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  5(4)

$500,000-$749,999:   36(38 )

$750,000-$999,999: 14(15)

 $1,000,000- $1,499,999:  9 (10)

$1,500,000- $2,999,999: 4(4)
———————————–
Average Price:    $847,153 ($849,564)

Median Price: $683,000($689,000)

Average Days on Market: 61(58)

Highest Priced Listing: $2,880,000 ($2,995,000)

Lowest Priced Listing: $379,950($450,000)

The area represented by the statistics posted below is Redmond, 98052, south of highway 908.  The neighborhoods are all within shouting distance of Microsoft. In real estate terms, we call this area 530.  The area on Education Hill is called area 550 and is not part of this report. The numbers in parentheses show last week’s totals. All numbers are gathered mid-day on Fridays from NWMLS information. This real estate activity report will be online no later than Sunday each week. 

 
Active Listings:  66(61) 

New listings:   8(4) one home re-listed

Sold subject to inspection: 3(1)

Pending:  2(3)

Closed Sales:  4(0)

Sold Contingent: 0(0)

Rented: 0(1) 

Price Reductions:  4(4)

Price Increases:     0(0)

Expired Listings: 0(1)

Cancelled Listings: 1(0)

Temp Off Market:  0(0)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  5(4)

$500,000-$749,999:   34(30 )

$750,000-$999,999: 13(14)

 $1,000,000- $1,499,999: 11(10)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $823,181($848,779)

Median Price: $686,000($699,000)

Average Days on Market: 59(64)

Highest Priced Listing: $2,880,000 ($2,880,000)

Lowest Priced Listing: $439,000($439,000)

My analysis of this week’s buzz: 

There are 8 new listings, so in the last three weeks, 21 homes have been added to the market.   The are now 66 homes for sale in Redmond near Microsoft.   Three homes received offers, 2 homes are now past the inspection and are pending. One listing was canceled and taken off the market. 

Four home sales closed and the new home owner moved in. Most closed sales were below the original asking price, but one sale in Spiritbrook closed above full price.  Again, it’s that new kitchen which seems to be the driving force for home sales above the asking price.

There were four price reductions.  The pending sale in Grasslawn Village  was a bank repossession and sold very quickly.  The bank repos have been few and far between in this area.

New listings: 

$467,500  Strattonwood rambler 3 bedrooms, 2 baths, 1490 sq ft.

$549,995  Hillrise rambler  3 bedrooms, 2.25 baths, 2000 sq ft.

$560,000 4 bedroom, 2.75 bath Braemoor daylight rambler, 2900+ sq ft.

$605,000 Tam O’Shanter mid-entry 4 bedrooms, 2.75 baths, remodeled kitchen, 2200 sq ft.

$689,000 Parkwood East two story 5 bedrooms, 2.5 baths, 2590 sq ft.

$799,000 Viewpoint Tri-level remodeled 5 piece bath, remodeled kitchen, 2220 sq ft, 4 bedroom, 2.5 bath.

$899,500  Parkpointe two story 3220 sq ft, 3 bedrooms, 2.75 baths, built in 1996.

$1,075,000 Marymoor Meadows two story 4 bedrooms, 2.75 baths 3240 sq ft.

Homes receiving offers this week:

$599,950 New Construction Village at Redmond Heights 3 bedrooms, 3 baths.

$835,000 Grasslawn Village two story 5 bedrooms, 2.75 baths.

$950,000 Marymoor Hills two story with 4 bedrooms, 3.5 baths.

Pending sales this week: 

(inspection has been satisfied)

$425,000 Meadows town home 3 bedrooms, 1.75 baths.

$598,000 Grasslawn Park two story 2460 sq ft 4 bedrooms, 2.5 baths.

Contingent sales: 

(home has received an offer, but buyer has to sell current home to make the sale)

None this week.

Expired listings:

(Homes in which the listing contract has expired)

None this week. 

Cancelled listings:

(Homes taken off the market)

$949,000 new construction off 51st. (should come back on the market)

 Temporarily off the market:

None this week.

Price reductions:

$548,900 down from $588,900 Spiritbrook tri-level

$580,000 down from $609,950 two story near Westside Park.

$585,000 down from $610,000 Tam O’Shanter rambler.

$799,000 down from $875,000 Charlson Place two story 3260 sq ft, 5 bedrooms, 3,5 baths.

 Closed sales:

(Homes in which the new owner has moved in!)

$373,000 Original asking price of $380,000.  Sold in 4 days for 2% below the asking price.

$550,000 Spiritbrook tri-level sold for 1% ABOVE asking price of $545,000 in 12 days.

$555,000 new construction Village at Redmond Heights.  Sold for 9% below the original asking price of $609,950.

$948,800 new construction Parkside at Wilshire sold for 14% below the original asking price.

Back on the market:

None this week.

Rented:

None this week.