West Redmond Quarterly Real Estate Update - 2nd Quarter, 2007

What happened with real estate in West Redmond from March 1-May 31, 2007?

Highest priced sale: $1,078,000

Lowest price sale: $375,000

Total of 41 sales

under $500,000 - 7

$500-750,000 - 32

$750,000-1,000,000 - 1

Above $1,000,000 - 1
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Highest price pending listing (sale has not closed yet): $1,550,000

Lowest priced pending listing (sale has not closed yet):$575,000

Number of pending sales: 19 homes

Under $500,000 - 2

$500-750,000 - 9

$750,000 - 1,000,000 - 5

Above $1,000,000 - 3
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Highest priced home currently on the market: $1,800,000

Lowest priced home on the market: $540,000

22 active listings

Below $500,000 - None

$500-750,000 - 8

$750,000 - 1,000,000 - 6

Above $1,000,000 - 8
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My quarterly analysis:

Most of our real estate activity falls into the $500-750,000 price range. Thirty-two of the 41 sales were in this price range.

Of the 41 sales, 25 were AT OR ABOVE FULL PRICE, a result of the lack of available homes in the area.

Homes above $1,000,000 were new construction or waterfront.

Our most expensive listings and sales are on Lake Sammamish.

Homes prices below $400,000 are rapidly disappearing. The two sales below $400,000 were for town homes in planned unit developments.