What were the chances of selling a home in West Redmond in May, 2007?

West Redmond/East Bellevue continues to defy all of the Seattle/Eastside real estate market trends. If you look at my www.eastsiderealestatebuzz.com blog, you will see how Eastside real estate is performing. Most sellers had about a 30% chance of getting their home sold in May in all areas except the West Redmond/East Bellevue area. Over 60% of home sellers in these neighborhoods sold their homes last month. Many of these sellers received multiple offers and sold their homes for more than the asking price.

http://debrasinick.com/docs/530%20Graph%20for%20May%202007.pdf

(NEW DATA) The chart linked above will show the exact numbers for the West Redmond/East Bellevue neighborhoods)


I see this market continuing in June, since the inventory in the area is still so low. I just sold a home in West Redmond this week that was on the market for two days and received multiple offers. I represented the buyer in this transaction. My client's offer was accepted and the home will sell for over $40,000 more than the asking price! The listing agent knew how to review both offers with the seller, keep both buyers in competition, thus netting the seller a lot more money. The demand for homes is so strong that this seller is making 5% more than the asking price of the home. When homes are made available to all buyers and each buyer knows there are other interested parties, the buyers make great offers. When there is competition like this for a home, buyers pay more. Not only are the West Redmond/East Bellevue sellers getting a great price when their homes are sold on the MLS, they get representation and less stress.