West Redmond Real Estate Buzz

Derby Days?  Do you know where this annual Redmond, Washington festival got its name?  Do you know how many years the festival has been going on? Here’s a bit of the history of the 68 year Derby Days Festival in Redmond.  The festival got its start in the Depression, in the 1930’s and was a civic attempt to raise some money for Christmas decorations.  A Bicycle Derby was born.  The route has changed many times over the years and is now a Bicycle Criterium.  Redmond Washington, the bicycle capital has had the longest running bicycle race in the country.

Now Derby Days has a Kids Parade, a General Parade, and an amusement park and a sound stage.  Come on down and dance to music from the 50’s, the 70’s or the 90’s.  Fun will happen all day long and finish with a fireworks show.

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?

It’s almost ready.  I stopped by Grasslawn Park in Redmond, Washington the other day and it’s looking pretty great.  The new basketball court is ready and the park is almost done, just in time for summer.

This just in from Timothy Cox of the City of Redmond:

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)

Come on down to the Meadows on Saturday and Sunday.  Search for some finds and stop by 6302 157th Pl NE in Redmond from 10-4 PM. 

 Happy shopping!

If you are planning a garage sale, let me know if you want to borrow my garage sale signs.  I would be happy to post your garage sale on this blog.

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:  56(54) 

New listings:   3(3)

Sold subject to inspection: 2(4)

Pending:  2(3)

Closed Sales:  2(2)

Sold Contingent: 1(0)

Rented: 0(0) 

Price Reductions:  4(5)

Price Increases:     0(0)

Expired Listings: 0(1)

Cancelled Listings: 1(1)

Temp Off Market:  0(0)

Back on Market: 2(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(4)

$500,000-$749,999:   29(28 )

$750,000-$999,999: 11(10)

 $1,000,000- $1,499,999: 9(9)

$1,500,000- $2,999,999: 3(3)
———————————–
Average Price:    $848,654($857,604)

Median Price: $697,500($697,000)

Average Days on Market: 65(68)

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

Lowest Priced Listing: $425,000($435,000)

My analysis of this week’s buzz: 

This week inventory is back up to 56 homes for sale.  There are 3 new listings and two homes received offers this week. Two homes have had the inspection satisfied and are now pending.  Closed sale prices ranged from 2%-9%  below the original asking price.  This week two homes that just sold came back on the market.  This could mean several things.  It could mean the buyers got cold feet and backed out or the buyer and seller could not agree on the building inspection request for repairs and the offer was terminated.  Four homes experienced a price reduction, including the home that is the best priced home in the area. 

New listings: 

$545,000 Spiritbrook Tri-level, 2080 sq ft, 3 bedrooms, 2.5 baths and remodeled kitchen.

$599,000 Gleneden two story with 2900 sq ft, 4 bedrooms, 2.5 baths, greenbelt location.

$785,000 Sheffield Greens two story with 2640 sq ft, 4 bedrooms, 2.5 baths.

Homes receiving offers this week:

$545,000 was also listed as a new listing above, this home sold in 3 days.  It had the “magic” remodeled kitchen, which is always the hot button for buyers.

$699,000 Gleneden 7 bedroom, 5 bath, with 3760 sq ft.

Pending sales this week: 

(inspection has been satisfied)

$450,000 Meadows town home with 3+ bedrooms, 2.5 baths, 1700+ sq ft.

$475,000 Kirk Estates Burnstead rambler with 3 bedrooms, 1.75 baths, 1600+sq ft.

Sold contingent:

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

$629,950 4 bedroom, 2.5 bath mid-entry home in Tam O’Shanter.

Expired listings:

(Homes in which the listing contract has expired)

None this week. 

Cancelled listings:

(Homes taken off the market)

$679,000 Rambler with 2000 sq ft. On market for 194 days.

Temporarily off the market:

None this week.

Price reductions:

  $425,000 Meadows town home reduced $10,000 from $435,000.

$550,000 from $575,000 mid-entry with possible subdividable lot.

$619,988 down from $649,950 (my listing) 4/5 bedrooms, 2.5 bath, Hampton Place trilevel.

$699,000 down from original price of $760,000 for newer style two story in Ardmore Village. 

Closed sales:

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

$579,950 Spiritbrook Tri-level down from $589,950. (my listing)  Sold for 2% less than the original asking price in 27 days.

$630,000 Country Creek tri-level down from $649,500 with original price of $715,000, sold for almost 9% below the original asking price.

Back on the market:

$599,950 Knollwood Mid-entry 3 bedrooms, 2.75 baths, 2660 sq ft.

$699,900 Gleneden mid-entry home.

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:  46(44)

New listings:   4(2) One of these homes is relisted and has been on the market for 122 days.

Sold subject to inspection: 1(2)

Pending:  3(4)

Closed Sales:  5(5)

Sold Contingent: 0(2)

Rented: 0(0) 

Price Reductions:  4(1)

Price Increases:     0(0)

Expired Listings: 0(0)

Cancelled Listings: 0(1)

Temp Off Market:  0(1)

Back on Market: 0(0)
———————————

$0-$349,999:             0(0)

$350,000-$499,999:  4(4)

$500,000-$749,999:   17(16)

$750,000-$999,999: 10(11)

 $1,000,000- $1,499,999: 13(12)

$1,500,000- $2,999,999: 2(2)
———————————–
Average Price:    $949,786 ($946,827)

Median Price: $785,000($775,000)

Average Days on Market: 91(89)

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

Lowest Priced Listing: $419,000($419,800)

My analysis of this week’s buzz: 

There are 45 homes available this week.  One home received an offer, three homes are now pending, and there were 5 closed sales.  Twelve homes have gone pending in the last three weeks.

Closed sales ranged from 2% to 14% below the original asking price.

  New listings: 

$475,900 mid-entry near Grasslawn with 3 bedrooms and 1700 square feet.

$569,500 completely remodeled midentry home in View Ridge.

$809,000 re-listed home with Lake Sammamish views.

$1,139,000 Prescott neighborhood built by Bennett Homes in 1998 with 4080 square feet, 4 bedrooms, den, 2.5 baths.

Back on the market:

None this week

Homes receiving offers this week:

(actual sale price to be reported when the sale closes)

$449,950 3 bedroom town home in Sammamish Forest Manors

Pending sales this week: 

(inspection has been satisfied)

$343,800  2 bedroom/1.5 bath town home in Sammamish Forest Manors

$460,000 for a town home in the Meadows, originally priced at $475,000 and on the market for 31 days.  The home had an updated kitchen with new appliances and was sited on a greenbelt lot.

$465,950 for a Meadows town home on the market for 7 days. This home had a remodeled kitchen and greenbelt privacy.

Expired listings:

(Homes in which the listing contract has expired)

None this week.

Cancelled listings:

(Homes taken off the market)

Temporarily off the market:

None this week.

Price reductions:

$599,000 two story near Grasslawn Park with a traditional floorplan, 4 bdrms/2.5 baths. Down from $620,000.  Listed for 137 days.

$625,000 two story in Grasslawn Park with a contemporary style. Reduced from $650,000 in 13 days.

$748,000 Gleneden two story with 3120 square feet, down from $795,000. Listed for 49 days.

$740,000 newer style two story in Ardmore Village.  Originally priced at $765,000 and listed for 35 days.

Closed sales:

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

$500,000 4 bedroom rambler in Little Tree, originally priced at $580,000, final list price of $518,950. Sales price is 14% below original asking price.

$510,000 5 bedroom midentry with 2000 square feet. List price was $519,950.  Sales price is 2% below the asking price.  On the market for 222 days.

$569,950 new two story with basement, 2117 square feet.  Original sales price of $609,950 with a final sales price of $569,950.  Sales price is 7% below original asking price.  On the market for 432 days (listed before built).

$595,000 remodeled rambler with bamboo floors, granite. On market for 132 days.  List price of $624,000.  Sales price is  5% below original asking price.

$699,950 new construction in Village at Redmond Heights.  Sold for full price in 383 days(home listed before it was built).

Back on the market:

None this week

Friday night is your chance to support The Lake Washington Schools and Ben Rush Elementary.  This year’s auction plans to be huge with some great auction items to bid on.  All the proceeds go to support educational programs at Ben Rush.

The auction is Friday, March 14th from 7-10 PM on the Ben Rush campus at 6101 152nd Ave NE, Redmond, Washington.

Check out the auction catalog. 

 Do you need your car washed? 

 Are you hankering for homemade desserts or a homemade Chinese meal?

 Need a haircut or beauty supplies?

 Looking for hockey lessons, martial arts lessons or a chance to go kayaking or join a gym?

 Theater, dancing, dining out?

There is something for everyone and you can help support education.

A bit of the wild, wild west and the gold fever hit both Redmond and Kirkland during the Alaskan Gold Rush.  Find out all about it on Saturday, March 8th.  Ruth Kerr, from Seattle’s Klondike Gold Rush Museum will be speaking from 10:30 AM to 12 noon at The Redmond Library, 15990 NE 85th St.

You can find out more about the latest society news and the upcoming Gold Rush talk by reading the Redmond Historical Society newsletter.  Dedicated to preserving the history of Redmond, the Redmond Historical Society, founded in 1999, has newsletters and a book about the history of Redmond, in addition to walking tours to see the city’s history. 

I attended a walking tour last fall in downtown Redmond and was excited to learn about the history of many of the buildings on Leary Way. Here is a post about one of the buildings on Leary Way that had its origin as a hotel. The historic brown building, now the Matador restaurant, has had a colorful past.

 The society’s book explains the chronology of all the past names for the present day city of Redmond.  It’s an interesting read and gives another side to Redmond most of us never think about.

 Yes, Virginia, there was life in Redmond before Microsoft!