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

Sellers had a 42% chance of getting their home sold in June, 2007.

The area is still performing at a stronger rate than most of the other Eastside areas. However, it has slowed down a bit. Last month I thought June might be a little stronger than it ultimately turned out to be, but still, if you are selling a home, you are lucky to be in this part of the Eastside.

If you go the statistics page on my website, you will find the chart for the East Bellevue/West Redmond area.

• June, 2007 179 homes for sale 76 sales, 42% chance of selling a home.
• May, 2007 152 homes for sale 97 sales, 63% chance of selling a home.
• June, 2006 118 homes for sale 83 sales, 70% chance of selling a home.

The area near Microsoft, East Bellevue and West Redmond, continues to have the lowest inventory on the Eastside, with the exception of West Bellevue. The area finally approached 176 homes for sale this past month. It still is a pretty tight market. However, for the first time this year, I am seeing many more homes go through some price reductions.

I have some clients looking in the area in the $500-700,00 price range. They asked me a couple of months ago to send them the sales each week so they could track the final sales price to list price for homes in the area. We are starting to see full sales prices cracking. Some sellers are actually having to negotiate and give a bit in price to get their homes sold.

If you are actively looking, you may want to have your Realtor track the final sale prices to the original list price on a weekly basis for you. That way, you will be right up to the minute with the pricing in a particular area.

For a picture of the real estate activity on the whole Eastside, you can check my blog at Eastside Real Estate Buzz.