This past week was a quieter week for Redmond home sales.  I expect with the Thanksgiving holiday, this week will also be on the quiet side.

The first time home buyer tax credit has been expanded and extended, which is great news for home sellers.  If you plan to make a move and are buying a home under $800,000, then you may be eligible to receive a tax credit. Not only will first time buyers be the beneficiaries of the tax credit, but many move-up or move-down buyers can also get a piece of the home buyer tax credit, and that could mean you!

For this week’s full report see below:

View Larger Map

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: 54 (54)

New listings: 1 (2)

$350,000-$499,999: 21 (20)

$500,000-$749,999: 18 (19)

$750,000-$999,999: 7 (8 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 1 (0)
———————————–
Average Asking Price of Homes for Sale: $707,996 ($643,703)

Median Asking Price of Homes for Sale: $549,500 ($550,000)

Average Days on Market: 128 (123)

Highest Priced Listing: $4,280,000 ($1,690,000)

Lowest Priced Listing: $279,950 ($280,000)

New listings: There was only one new listing for sale this past week, which is now the most expensive home for sale in Redmond, near Microsoft. 

Pending inspections and pending: Home sales in Redmond were happening, but not at a frenetic pace.  Three homes are now pending sales, which means the buyers and sellers have negotiated through the inspection process. There were no new home sales this week.

Price reductions: Price reductions remained steady, but still not as many as we’ve seen in recent months.

Homes off the market (homes that did not sell): Two

Home sales: Two home sales closed this week.

Median and average pricing jumped up from last week because of the one new listing on the market, a waterfront property for $4280,000.

Closed Sales Of The Week:

$500,000, last asking price: $519,000, original asking price: $519,950, sold in  137 days, 11% below the original price.

$669,800, last asking price: $689,900, original asking price: $689,900, sold in 137 days, 3% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-23-09  11,980 The second lowest weekly number of properties for sale in King County in all of 2009.  The week with the lowest number of homes on the market was January 5th, the first week of the year.

Happy Turkey Day!  Enjoy your family and your friends this holiday weekend.

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

• Most number of home sales: $400-499,999 and $500-599,999 3 homes sold in each price range.
• Most number of homes for sale: $400-499,999     65 homes for sale.  The time it takes to sell a home in this price range has increased in the last few weeks.
• Best week to sell your home in the last 7 weeks?      Week of November 4th, with 18 sales.
• Most homes for sale in the last 7 weeks?       10-28-09, when 253 homes were for sale.
• All of the Bellevue and Redmond homes sales were priced under $799,999.
  
• There were 247 homes for sale and 10 homes sold in East Bellevue and Redmond near Microsoft last week.  The number of Redmond and Bellevue home sales has dropped dramatically from the high of 28 sales at the end of August.

• Peak of the number of homes for sale in King County so far this year?
• July 27th- a high of 13,861 homes for sale.
• Week of 11-16-09  12,186 homes and condos for sale in King County, the smallest number of homes and condos for sale since January of this year.
  

• With inventory down, shouldn’t you think about selling your home now, rather than in the spring?
  

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 5 months to sell all of the homes in the $400-499,999 price range

Homes sales were happening in Redmond this past week. I’m back to reporting a healthy and consistent turnover of homes for sale with a good number getting offers this past week. Gone on those weeks when the number of  homes available in Redmond near Microsoft was around 80 homes per week.

The first time home buyer tax credit has been expanded and extended, which is great news for home sellers.  If you plan to make a move and are buying a home under $800,000, then you may be eligible to receive a tax credit. Not only will first time buyers be the beneficiaries of the tax credit, but many move-up or move-down buyers can also get a piece of the home buyer tax credit, and that could mean you!

(The weekly real estate buzz post has moved and will now be published at the beginning of each week.  The “Hot Sales Price of the Week” will now be posted at the end of each week.)

For this week’s full report see below:

View Larger Map

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: 54 (57)

New listings: 2 (3)

$350,000-$499,999: 20 (24)

$500,000-$749,999: 19 (16)

$750,000-$999,999: 8 (9 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $643,703 ($647,021)

Median Asking Price of Homes for Sale: $550,000 ($559,850)

Average Days on Market: 123 (114)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $280,000 ($224,950)

New listings: There were two new listings for sale this past week. 

Pending inspections and pending: Home sales in Redmond are hopping again, with one home receiving and accepting an offer and 4 homes moving beyond the inspection with their offers for a total of 6!

Price reductions: Price reductions remained steady, but still not as many as we’ve seen in recent months.

Homes off the market (homes that did not sell): Four

Home sales: Five home sales closed this week.

Closed Sales Of The Week:

$344,950, last asking price: $349,950, original asking price: $349,950, sold in 9 days, 2% below the original price.

$400,000, last asking price: $400,000, original asking price: $585,000, sold in 268 days, 22% below the original price.

$431,000, last asking price: $450,000, original asking price: $450,000, sold in 16 days, 5% below the original price.

$518,000, last asking price: $549,000, original asking price: $575,000, sold in 42 days, 10% below the original price.

$725,000, last asking price: $749,950, original asking price: $799,950, sold in 257 days, 10% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-16-09  12,186

We are back to January’s numbers of homes and condos for sale in King County, among the lowest for the year!

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

• Most number of home sales: $500-599,999 5 homes sold
• Most number of homes for sale: $400-499,999     63 homes for sale. The same number for the past three  weeks when there was a huge increase in homes for sale in this price range in Redmond and Bellevue.
• Best week to sell your home in the last 7 weeks?      Week of Sept. 30th, with 25 sales.
• Most homes for sale in the last 7 weeks?       10-28-09, when 253 homes were for sale.
• All of the Bellevue and Redmond homes sales were priced under $799,999.
  
• There were 244 homes for sale and 11 homes sold in East Bellevue and Redmond near Microsoft last week.  The number of Redmond and Bellevue home sales has dropped dramatically from the high of 28 sales at the end of August.

• Peak of the number of homes for sale in King County so far this year?
• July 27th- a high of 13,861 homes for sale.
• Week of 11-09-09  12,382 homes and condos for sale in King County, a small increase over the last few weeks.
  

East Bellevue and Redmond, Near Microsoft Real Estate Sales, 11-11-09

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 2.2 months to sell all of the homes in the $400-499,999 price range.

How did October, 2009 stack up to October, 2008 in your neighborhood?

(Click on the cities below to see real estate trends for the past 5 years.  You’ll find the median pricing for each city and whether the number of homes for sale and the number of sales went up or down.  The odds of selling a home in each area is a result of the number of homes for sale divided by the actual number of home sales.)

The plateau:  Sammamish, Issaquah, North Bend, and Fall City

The odds of selling a home were 26%.

Median sales price decreased by 9% from $559,000 to $509,000.

The number of homes for sale dropped by 33% and sales were up by 119% from last year.

West Redmond/East Bellevue

The odds of selling a home were 19%.

Median sales price decreased to $445,000 from $484,725, a decrease of 9%

The number of homes for sale dropped by 23.5% and sales were up by 53%.

South Bellevue/Issaquah

The odds of selling a home were 23%.

Median price increased by 4% to $592,500 from $569,900.

The number of homes for sale dropped by 21% and sales were up 156%.

Woodinville/Bothell/Kenmore/Duvall/North Kirkland

The odds of selling a home were 16%.

Median price was down to $429,975 from $533,925, a 19.5% decrease.

The number of homes for sale declined by 15% and sales were up by 89%.

Kirkland

The odds of selling a home were 18%.

Median price decreased by 29.5%, from $709,475 to $500,000.

The number of homes for sale declined by 23% and sales were up by 142%.

West Bellevue

The odds of selling a home were 14%.

Median pricing decreased by 18% from $1,399,000 to $1,150,000.

The number of homes for sale decreased by 16% and sales increased by 100%.

Redmond/Education Hill/ Carnation

The odds of selling a home were 23%

Median pricing increased by 6% to $449,995 from $472,425.

The number of homes for sale decreased by 16% and sales increased by 190%.

The increase in sales was huge all over the Eastside.  Surprising, but maybe not so surprising, the increase in sales was the smallest in the area that has traditionally been the strongest over the last few years, the East Bellevue/Redmond area near Microsoft.  This could be the result of a few factors.  One is Microsoft is not hiring as many people and is also doing some layoffs.  Also, with the area so strong in home sales over the years, other areas are starting to catch up more in the number of sales.

Two areas saw an increase in median pricing from last year, downtown Redmond and Carnation and South Bellevue and Issaquah.  This is a real surprise, since every area has shown a decline in prices.  This may be an anomaly, so I’ll check it out next month.

The number of homes for sales in Redmond, near Microsoft remains on the lower end for the year. Gone on those weeks when the number of  homes available in Redmond near Microsoft was around 80 homes per week.   With the extension and expansion of the first time home buyers credit, this may be a great time to consider selling your home. Not only will first time buyers be the beneficiaries of the tax credit, but many move-up or move-down buyers can also get a piece of the home buyer tax credit, and that could mean you!

(The weekly real estate buzz post has moved and will now be published at the beginning of each week.  The “Hot Sales Price of the Week” will now be posted at the end of each week.)

For this week’s full report see below:

View Larger Map

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: 57 (56)

New listings: 3 (4)

$350,000-$499,999: 24 (20)

$500,000-$749,999: 16 (21)

$750,000-$999,999: 9 (9 )

$1,000,000- $1,499,999: 4 (4)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $647,021 ($638,771)

Median Asking Price of Homes for Sale: $559,850 ($559,850)

Average Days on Market: 114 (109)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $224,950 ($280,000)

New listings: There were three new listings for sale this past week. There are now more homes for sale in Redmond below $500,000 than in the $500-750,000 price range.

Pending inspections and pending: Sales are not as fast and furious as a few months ago, but sales are still happening and competition is lessening because fewer homes are on the market.

Price reductions: Price reductions were up this week as those home sellers on the market are trying to stay competitive.

Homes off the market (homes that did not sell): None

Home sales: One home sale closed this week.

Closed Sales Of The Week:

$375,000 last asking price: $399,000, original asking price: $429,000 sold in 89 days for 13% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-9-09  12,382,

58 more homes for sale this week than last, the first increase in numbers in the past month.  We’re back to same number of homes for sale as we saw in February.  The big difference is so many more homes are selling now than in February.

Seattle Eastside Real Estate Sales, October 2009

The odds of selling a home on the Eastside in October 2009 ranged from a low of 14% to a high of 26%, with an average 20% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)

October, 2009        3240 homes for sale     644 homes sold            19% odds of selling.

September, 2009   3518 homes for sale      (now 606) 668 homes sold    (now 17%) 20% odds of selling.*

October, 2008        4097 homes for sale     257  homes sold             6% odds of selling.

*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed.  Some sales from each month fall apart and don’t close, hence a lower number of sold homes may be reported at a later date.

_____________________________________________________________

October, 2008 Seattle-Eastside real estate market compared to October, 2009:

Sales were up a huge, and  I mean huge, amount in most of the Seattle-Eastside cities. The number of homes for sale and the median prices were down in all neighborhoods with the exception of South Bellevue/Issaquah and downtown Redmond/Union Hill.  In both of these areas the median price increased from last October to this October.

Home sales on Seattle’s Eastside:  up 118%!!!!

Sales prices:   down 12%.

Number of homes for sale:  down 22%.

Best odds of selling:   and it’s not Redmond, near Microsoft, and East Bellevue!  This month, the plateau areas of Sammamish, Issaquah, Fall City, Snohomish, and North Bend are the top home sales areas with 26% of the homes selling.

Worst odds of selling:  West Bellevue with 12% odds of homes selling.

Biggest increase in sales from last year:   Downtown Redmond, Union Hill, Redmond Ridge, Carnation, 190% more home sales.

Smallest increase in sales from last year:  East Bellevue/Redmond area around Microsoft goes from the top home sales area to the area with the smallest increase this year from last October, only 53%.  Home sales in Bellevue and Redmond have been so strong in comparison to other eastside areas for so long. Now other Seattle-Eastside neighborhoods are catching up.

Decline in real estate sales:  None on the eastside, all areas had huge increases in the number of home sales ranging from 52% to 190%.

The peak of homes for sale in 2008:   July,   4370 homes.

The peak of homes for sale in 2009:   June,  3859 homes.

Rate of home sales that failed this month: 11%

Why home sales fail to close:

• This can be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there.
• Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.”  Many of these offers do not stay together because it often takes months for a short sale to get approved by the bank.  There’s no guarantee the bank will accept an offer.  I’ve heard only 4% of the short sales actually close in King County.  Since there’s a huge number on the market, if you’re someone willing to take a chance and accept that your offer may never be looked at or accepted, then a short sale may be a way to go. With the extension of the home buyer tax credit, home buyers have more time to goafter short sales.  However, months may still be needed to get the short sale closed, if it is to close at all. Since most buyers truly want to purchase a home and close on it, I would recommend NOT making offers on short sales.  I’d also recommend reading as much as you can about short sales before attempting to make an offer on a short sale. This way you’ll be prepared if you choose to go the route of a short sale.

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

• Most number of home sales $400-499,999 8 homes sold, one more home sale this week than last.
• Most number of homes for sale: $400-499,999     63 homes for sale. The same number as last week when there was a huge increase in homes for sale in Redmond and Bellevue.
• Best week to sell your home in the last 7 weeks?      Week of Sept. 30th, with 25 sales.
• Most homes for sale in the last 7 weeks?       Last week, 10-28-09, when 253 homes were for sale.
• All of the Bellevue and Redmond homes sales were priced under $799,999.
  
• There were 244 homes for sale and 18 homes sold in East Bellevue and Redmond near Microsoft last week.  The number of Redmond and Bellevue home sales has dropped dramatically from the high of 28 sales at the end of August.

• Peak of the number of homes for sale in King County so far this year?
• July 27th- a high of 13,861 homes for sale.
• Week of 11-02-09  12,324  homes and condos for sale in King County, the lowest number of properties for sale in King County since February, 2009.  The number of homes for sale is going down, down, down.

East Bellevue and Redmond, Near Microsoft Home Sales, 11-04-09

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 2 months to sell all of the homes in the $400-499,999 price range.

The number of homes for sales in Redmond, near Microsoft continues to drop, which is still a very good thing. With the possible extension and expansion of the first time home buyers credit, this may be a great time to sell your home.

WordPress, which is the blogging platform I use,  doesn’t seem to want me to insert the link into this article, so here it is.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a65ONhTk4C7Q

(The weekly real estate buzz post has moved and will now be published at the beginning of each week.  The “Hot Sales Price of the Week” will now be posted at the end of each week.)

For this week’s full report see below:

View Larger Map

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: 56 (59)

New listings: 4 (3)

$350,000-$499,999: 20 (20)

$500,000-$749,999: 21 (22)

$750,000-$999,999: 9 (9 )

$1,000,000- $1,499,999: 4 (5)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $638,771 ($637,089)

Median Asking Price of Homes for Sale: $572,475 ($559,850)

Average Days on Market: 109 (116)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $280,000 ($244,950)

New listings: There were four new listings for sale this past week, a reasonable number of new listings.

Pending inspections and pending: Sales are not as fast and furious as a few months ago, but sales are still happening and competition is lessening because fewer homes are on the market.

Price reductions: Price reductions are happening, but at a slower pace than even a few weeks ago.

Homes off the market (homes that did not sell): Four homes are no longer for sale.

With the decrease in the number of homes for sale, less home prices are being reduced.

Home sales: Two homes closed this week.

Closed Sales Of The Week:

$323,000 last asking price: $339,000, original asking price: $357,000 sold in 26 days for 10% below the original price.

$455,000 last asking price: $465,000 original asking price: $465,000, sold in 198 days for 3% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

11-2-09  12,324

The number of homes for sale in King County continues to drop.  The last time we saw a similar number of homes for sale was back in February of this year.  There are about 1000 less homes available than three months ago.

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

• Most number of home sales $400-499,999 7 homes sold.
• Most number of homes for sale: $400-499,999     63 homes for sale. This is a huge jump in homes for sale in this price range. The most we’ve seen possibly all year.  Last week there were 49 homes for sale.
• Best week to sell your home in the last 7 weeks?      Week of Sept. 30th, with 25 sales.
• Most homes for sale in the last 7 weeks?       This week, 10-28-09, when 253 homes were for sale.
• All of the Bellevue and Redmond homes sales were priced under $799,999, except one home sale, which was between $1000-$1,499,999.
  
• There were 253 homes for sale and 15 homes sold in East Bellevue and Redmond near Microsoft last week.  The number of Redmond and Bellevue home sales has dropped dramatically from the high of 28 sales at the end of August.

• Peak of the number of homes for sale in King County so far this year?
• July 27th- a high of 13,861 homes for sale.
• Week of 10-26-09  12,865  homes and condos for sale in King County, the lowest number of properties for sale in King County since March, 2009.

East Bellevue and Redmond, near Microsoft, Home Sales 10-28-09

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 2 months to sell all of the homes in the $400-499,999 price range.

A more balanced real estate market in Redmond?  Buyers and sellers have more of a level playing field.  Prices are not up, but there’s a great selection of terrific homes for sale.

All in all, this was a quieter week for real estate sales in Redmond.

(The weekly real estate buzz post has moved and will now be published at the beginning of each week.  The “Hot Sales Price of the Week” will now be posted at the end of each week.)

For this week’s full report see below:

View Larger Map

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: 59 (59)

New listings: 3 (4)

$350,000-$499,999: 20 (19)

$500,000-$749,999: 22 (23)

$750,000-$999,999: 9 (9 )

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

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $637,089($637,956)

Median Asking Price of Homes for Sale: $559,850 ($559,850)

Average Days on Market: 116 (115)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $244,950 ($279,950)

New listings: There were three new listings for sale this past week.

Pending inspections and pending: Sales seem to be slowing to less than a handful per week.

Price reductions: Price reductions are also decreasing.  Two weeks ago, there were 8 homes with price reductions, this week there are four homes with reduced prices.

Homes off the market (homes that did not sell): Again, the number is down significantly as only one home for sale came off the market.

Home sales: Three homes closed this week.

Closed Sales Of The Week:

$490,000 last asking price: $499,500, original asking price: $595,000, sold in 276 days for 16% below the original price.

$490,000 last asking price: $490,000, original asking price: $490,000, sold in 21 days for FOR FULL PRICE.

$623,700 last asking price: $649,000 original asking price: $669,000, sold in 44 days for 7% below the original price.

Peak of homes for sale so far for 2009:

7-27-09   13,861

Now:

10-26-09  12,865

The number of homes for sale in King County keeps dropping.  There are about 1000 less homes available than three months ago.,  We’re back to the number of homes for sale experienced earlier this year.  Since there are still a lot of homes to choose from, this bodes well for the market, both for the sellers, and still good for the buyers.  Buyers still have a great selection of homes to choose from.

Sales have surged and only time will tell if it’s the result of the first time home buyers tax credit of $8000.

Weekly Wee

Redmond and East Bellevue Home Sales, 10-14-09

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 2 months to sell all of the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.

Redmond, East Bellevue Home Sales Sept 2009

Sellers had 32% odds of getting a home sold in West Redmond and East Bellevue, both neighborhoods near Microsoft, in September, 2009.  (The NWMLS, the Northwest Multiple Listing Service puts the data from East Bellevue and the Redmond area around Microsoft together.)

If you check the link above, it shows  the 5 year trend in real estate.  The numbers for the Trendgraphix chart may vary slightly from the MLS statistics posted in the above link, but the variation is slight.  The overall trend in the market is the same.

*Adjusted sales numbers reflect sales that failed and did not close.

Thirty two out of 100 homes received and accepted offers in September.  The numbers for August had shown 74 homes had sold, but only 66 of those sales stayed together.  The numbers on the chart are adjusted to reflect the actual number of sales that do close.

What’s happening with real estate prices in Redmond and East Bellevue?

The median sales price decreased by 9% to $499,500 from $550,000, the number of homes for sale declined by 30%, and the number of homes sold in Redmond increased by 32.5%. 

The odds of getting a home sold are strongest in Redmond, near Microsoft, and East Bellevue than any other area on the eastside.

For the full picture of Seattle-Eastside real estate, check out my eastside real estate blog.

Looking for more national real estate information? The Real Estate Channel had an interesting article with the Case-Shiller Index which examines the top real estate markets in the country.

Seattle-Eastside Real Estate Sales September 2009

The odds of selling a home on the Eastside in September 2009 ranged from a low of 15% to a high of 32.5%, with an average 19% absorption rate. (The absorption rate is the number of homes for sale in any given month divided by the actual number of homes sold that month.)

September, 2009   3518 homes for sale      668 homes sold           19% odds of selling.

August, 2009          3604 homes for sale     683 (now 604) homes sold     19 (now 18)% odds of selling.

September, 2008   4240 homes for sale    433 (now 373) homes sold       10 (now 9)% odds of selling.*

*Adjusted from previous month’s numbers to reflect the actual number of homes sold and closed.  Some sales from each month fall apart and don’t close, hence a lower number of sold homes may be reported at a later date.

_____________________________________________________________

September, 2009 Seattle Eastside real estate market:

Sales were up, the number of homes for sale and the median prices were down in all neighborhoods, except for the Redmond/Carnation area.

Home sales on Seattle’s Eastside:  up 29%

Sales Prices: down 11%.

Number of homes for sale:  down 17%.

Best odds of selling: Redmond, near Microsoft, and East Bellevue,  32.5% chance.

Worst odds of selling:  South Bellevue/Issaquah, a 15% chance.

Biggest increase in sales from last year: West Bellevue, 92% more home sales.

Smallest increase in sales from last year: Sammamish, Issaquah plateau, 30%

Decline in real estate sales: Redmond/Carnation, -6%

The peak of homes for sale in 2008: July,   4370 homes.

The peak of homes for sale in 2009:  July,  3819 homes.

Failure rate for home sales: 12%

Why home sales fail to close:

• This can be the result of inspections in which buyers and sellers do not agree, an appraisal that does not justify the sales price, lenders who do not package the loan properly or the great number of short sales that are out there.
  
• Short sales are sales in which the selling price for a property is less than the price owed to the bank, so the seller is “short.”  Many of these offers do not stay together because it often takes months for a short sale to get approved by the bank.  There’s no guarantee the bank will accept an offer.  I’ve heard that only 4% of the short sales actually closed in King County.  Since there are a huge number on the market, if you’re someone  willing to take a chance on a property, are willing to accept your offer may never be looked at or accepted, then a short sale may be a way to go.  However, since most buyers truly want to purchase a home and close on it, I would recommend NOT making offers on short sales.

For more of a picture of Seattle’s real estate market, check on the articles in The Seattle Times, The Seattle PI, and KING 5.

The $8000 first time home buyer tax credit is going, going, and almost gone!

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

• Most number of home sales $400-499,999 8 homes sold in the price range.
• Most number of homes for sale: $400-499,999     49 homes for sale.
• Best week to sell your home in the last 7 weeks?      Week of August 26th with 28 sales in the area.
• Most homes for sale in the last 7 weeks?       8-26-09 when 269 homes were for sale.
• Peak of the number of home for sale in King County so far this year?
• July 27th- a high of 13,861 homes for sale.
• Week of 10-5-09  13, 048 homes and condos for sale in King County.
  
• The $400-499,999 price range is king in the area, with the most number of homes for sale and the most number of homes sold.  Eight out of 13 home sales in Redmond and East Bellevue were in this price range last week.
  
• Only one home sold above 500k and there were no sales above 700k this week.
• There were 238 homes for sale and 13 homes sold in East Bellevue and Redmond near Microsoft last week.

Bellevue and Redmond Home Sales - 10-06-09

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 1.9 months to sell all of the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.

Wow, the real estate numbers in Redmond are great! What a difference from a few months ago.  For the  week’s fulll report see below:

View Larger Map

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 mid-day on Thursdays from NWMLS information.

Number of homes for sale: 59 (65)

New listings: 3 (4)

$350,000-$499,999: 20 (22)

$500,000-$749,999: 23 (27)

$750,000-$999,999: 7 (7 )

$1,000,000- $1,499,999: 5 (6)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $629,091 ($656,271)

Median Asking Price of Homes for Sale: $550,000 ($568,975)

Average Days on Market: 116 (126)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $279,950 ($279,950)

Wow!

New listings: Even with 3 homes new to the market,  the number of homes for sale is the lowest in the Redmond area, near Microsoft since  the beginning of March when 58 homes were for sale. In June of this year, we reached 83 homes for sale in the area.   The real estate market is becoming even more balanced between buyers and sellers these past few months.

Pending inspections and pending: Lots of homes are selling with 6 homes receiving offers and 3 others moving past the inspection phase to pending for a total of nine sales.

Price reductions: Five homes priced from below $300,000 up to the high 600’s had price reductions this past week.

Homes off the market(homes that did not sell): It looks like a lot of homes did not sell and the sellers decided to take them off the market.  However, a few of them are back on the market and re-listed.

Home sales: Three homes closed this week.

Closed Sales Of The Week:

$290,000 last asking price: $299,995, original asking price: $320,000, sold in 98 days for 10% below the original price.

$400,000  last asking price: $400,000, original asking price: $400,000, sold in 5 days for full price.

$488,000 last asking price: $499,500, original asking price: $ 524,500, sold in 79 days for 8% below the original price.

There are new NWMLS (Northwest Multiple Listing Service) rules on blogging about listings.  No longer can any comments be made regarding any home sales.  Since I’ve worked for so many years in the neighborhoods around Microsoft, I’m very familiar with the neighborhoods and homes and it was easy to give my opinions about why a home sold.   However, with the new MLS rules, I no longer can comment on other listings.  So I’ll keep it short and sweet and report the facts about home sales, which is public information.

Peak of homes for sale so far for 2009:

7-27-09   13,861

9-28-09  13,048   a drop of 340 homes and condos for sale in the past week in King County.

Don’t forget, the first time buyer $8000 tax credit is going away now. First time home buyers must close on a home purchase no later than November, 30th, 2009 to be eligible for the tax credit.  This means it’s best to purchase a home no later than mid-October in order to close on time.  You’ve got about a week left!

View Larger Map

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 mid-day on Thursdays from NWMLS information.

Number of homes for sale: 65 (68)

New listings: 4 (1)

$350,000-$499,999: 22 (23)

$500,000-$749,999: 27 (28)

$750,000-$999,999: 7 (7 )

$1,000,000- $1,499,999: 6 (7)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $656,271 ($651,682)

Median Asking Price of Homes for Sale: $568,975 ($572,475)

Average Days on Market: 126 (126)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $279,950 ($289,950)

This week there have been a number of closings and price reductions.

New listings: Four homes are new on the market, but the number of homes for sale is still declining.  Only a couple of months ago there were over 80 homes for sale in the area.  Since there are still a good number of homes available, this is good for both buyers and sellers.

Pending inspections and pending: This past week the sales were all below the 550k range.

Price reductions: were in all price ranges from the 200’s to over 1 million dollars.

Home sales: There were none this week, which is highly unusual for the neighborhoods around Microsoft.

Closed Sales Of The Week:

None this week!

Peak of homes for sale so far for 2009:

7-27-09   13,861

9-28-09  13,388

***Only 31 homes and condos have come up on the market in all of King County in the last two weeks, more good news for the local real estate market.

Don’t forget, the first time buyer $8000 tax credit is going away soon. First time home buyers must close on a home purchase no later than November, 30th, 2009 to be eligible for the tax credit.  This means it’s best to purchase a home no later than mid-October in order to close on time.

View Larger Map

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 mid-day on Thursdays from NWMLS information.

Number of homes for sale: 68 (68)

New listings: 1 (1)

$0-$349,999: 2 (2)

$350,000-$499,999: 23 (23)

$500,000-$749,999: 28 (28)

$750,000-$999,999: 7 (7 )

$1,000,000- $1,499,999: 7 (7)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $651,682 ($652,555)

Median Asking Price of Homes for Sale: $572,475 ($575,000)

Average Days on Market: 126 (120)

Highest Priced Listing: $1,690,000 ($1,690,000)

Lowest Priced Listing: $289,950 ($289,950)

This week there have been a number of closings and price reductions.

New listings: One home came on the market for sale, just like last week.

Pending inspections and pending:  The homes were on the market for a short time, evidence that homes priced right will sell within a reasonable amount of time.  This is good news for home sellers.

Price reductions: There were a lot of price reductions in the past week and all were for homes under the $500,000 range.  Price reductions ranged from $20,000 to over $100,000.  The home with the largest price reduction has been on the market for months.  However, many of this week’s price reductions were for homes on the market for less than 50 days.

Home sales: Closed sales were all for homes under $700,000.  Most of the homes sold quickly at full price or with little negotiation in  price. If you check the sales out below, it’s clear the homes with the biggest price reductions were overpriced and sat on the market for a long time before selling.

Closed Sales Of The Week:

$380,000  Rambler with 3 bedrooms, 1.5 baths, 1200 sq ft, and a 9000+ sq ft lot. SOLD FOR FULL PRICE in 30 days.

****Located on a street off NE 51st, this home had a huge shop, sun room, A/C, and a beautiful lot with ponds.

$389,000  1937 Bungalow with 3 Bedrooms, 1.75 baths, SOLD FOR FULL PRICE in 29 days.

****Rare bungalow with charm.  Unfinished basement area, close to Microsoft and updated.

$425,000 Marymoor Trails town home built in 1989 with 3 bedrooms, 3.5 baths, and 2600 sq ft, original asking price of $525,000, final asking price of $425,000.  Sold in 800 days for 20% below the starting price.

****Nice location above downtown Redmond.  Great Cascade views, easy highway access.

$475,000 tri-level with the original asking price of $485,000, sold in 12 days for about 2% below the original asking price.

****Nice updates with newer roof, windows, and furnace.

$628,000  Two story home on Lake Sammamish Parkway with 4 bedrooms, 2.5 baths, sold in 7 days for about 2% below the asking price.

****Newer style two story with great curb appeal.  Priced well.

$630,000  Lechner Ridge two story home built in the 1980’s with the original asking price of $859,000 final asking price of $659,000.  Sold in 385 days for 27% below the original asking price.

****Nice home with updated kitchen and mountain views, nice neighborhood, but the wrong pricing kept this home from selling for over a year!

Peak of homes for sale so far for 2009:

7-27-09   13,861

9-21-09  13,373

Don’t forget, the first time buyer $8000 tax credit is going away soon. First time home buyers must close on a home purchase no later than November, 30th, 2009 to be eligible for the tax credit.  This means it’s best to purchase a home no later than mid-October in order to close on time.

What was the hot price range of the week in East Bellevue (east of 405)  and West Redmond?

• Most number of home sales $300-399,999      6 homes sold in the price range.
• Most number of homes for sale: $400-499,999      50 homes for sale.
• Best week to sell your home in the last 7 weeks?      Week of August 26th with 28 sales in the area.
• Most homes for sale in the last 7 weeks?       8-19-09 when 290 homes were for sale.
• Peak of the number of home for sale in King County so far this year?  July 27th marked a high of 13,861 homes for sale.
• Week of 9-16-09   13, 373 homes and condos for sale. Only 16 new listings this week!
• The $500-599,999 price range had the most number of homes to sell, but now the $400-499,999 price range is the most dominant in the area.  Will this change when the $8000 tax credit for first time home buyers goes away?

Bellevue and Redmond real estate sales - 09-16-09

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 2.4 months to sell all of the homes in the $400-499,999 price range.

The last section shows the 7 week average of each category, the number of homes for sale, the number sold, and the months supply.

View Larger Map

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 mid-day on Thursdays from NWMLS information.

Number of homes for sale: 68 (71)

New listings: 1 (2)

$0-$349,999: 2 (3)

$350,000-$499,999: 23 (22)

$500,000-$749,999: 28 (30)

$750,000-$999,999: 7 (7 )

$1,000,000- $1,499,999: 7 (7)

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

$3,000,000+ 0 (0)
———————————–
Average Asking Price of Homes for Sale: $652,555 ($681,993)

Median Asking Price of Homes for Sale: $575,000 ($579,000)

Average Days on Market: 120 (117)

Highest Priced Listing: $1,690,000 ($2,950,000)

Lowest Priced Listing: $289,950 ($289,950)

New listings: One home came on the market for sale.

Price reductions: This week’s price reductions happened all over the map from the $300’s to the 3 million dollar range.

Home sales: Were also in a variety of price ranges.  Our most expensive home had been $3.45 million, was reduced by $1 million to $2.45 million, and received an offer.

Closed Sales Of The Week:

$425,000 Sunny Ridge tri-level home with 1860+ square feet, 3 bedrooms, 2.5 baths, sold within 6% of the original asking price of $450,000 and a final asking price of $440,000.

****Sunny Ridge is a cute U-shaped street east of Microsoft with some great homes.  This home was at a good price point in a nice neighborhood within a short distance to the main Microsoft campus.

$445,000 Burnstead two story with 2020 square feet, 3 bedrooms, 2.5 baths, built in 1984.  Originally listed with another agent for $480,000, my team and I re-listed the home at $469,950 and then sold it fairly quickly.  Final sales price was 7% below the original asking price.

****Great two story with a huge backyard.  Lots of great light and only minutes to the main Microsoft campus.  It also helped to have terrific listing agents

$540,000 newer style multi-level home built in 2007 with 2618 square feet and 4 bedrooms, 2.5 baths, sold in 95 days for 7% below the original asking price of $579,900.

****Newer homes which are closer in to jobs are selling well.

$700,000  Two story with 2590 square feet, built in 1985 sold in 21 days for 7% below the original asking price of $750,000.

****Gorgeous remodel in a great neighborhood with even more expensive homes.  Located only blocks from Microsoft, the commute could not have been better!

Peak of homes for sale so far for 2009:

7-27-09   13,861

9-14-09  13, 357

Don’t forget, the first time buyer $8000 tax credit is going away soon. First time home buyers must close on a home purchase no later than November, 30th, 2009 to be eligible for the tax credit.  This means it’s best to purchase a home no later than mid-October in order to close on time.

View Larger Map

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 mid-day on Thursdays from NWMLS information.

Number of homes for sale: 72 (68)

New listings: 6 (1)

$0-$349,999: 1 (1)

$350,000-$499,999: 21 (17)

$500,000-$749,999: 32 (34)

$750,000-$999,999: 9 ( 8 )

$1,000,000- $1,499,999: 7 (7)

$1,500,000- $2,999,999: 1 (0)

$3,000,000+ 1 (1)
———————————–
Average Asking Price of Homes for Sale: $705,682 ($701,928)

Median Asking Price of Homes for Sale: $599,325 ($609,475)

Average Days on Market: 101 (104)

Highest Priced Listing: $3,400,000 ($3,400,000)

Lowest Priced Listing: $299,950 ($299,950)

New listings: Six homes came up for sale this past week.

Price reductions: Price reductions are still happening, but not at such a fast pace.

Home sales: Two homes received an offer and are working through the inspection process.  Three homes had the inspections satisfied and are now pending.  Homes with the offers ranged in price from the high 400’s to $750,000.

The home with the increase in pricing is new construction and has not been built yet.

Closed Sales Of The Week:

$450,000  Wildtree rambler home with 4 bedrooms, 2 baths, 1700+ sq ft, with an original list price of $499,900, last asking price of $459,900, sold in 101 days for 10% below the asking price.

**** Nicely maintained rambler home with views of the golf course.

$501,000  Emerald Ridge two story near Microsoft with an original asking price of $550,000, final asking price of $510,000, sold in 130 days for 9% below the original asking price.  The home had three bedrooms, 2.5 baths, and 2200 square feet.

****Rare newer style two story with a view near Microsoft.