West Redmond Weekly Real Estate Buzz, August 24, 2007

Your neighborhood buzz for August 17-24th


New listings: 5

Active Listings: 48

Sold subject to inspection: none

Pending: 2 , one at $549,000 and one at $1,450,000

Closed Sales: 1 at $585,000 with a list price of $599,950

Number of Price Reductions: 5
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Number of homes available: 48

$350,000-$499,999: 4

$500,000-$749.999: 27

$750,000-$999,999: 11

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

$1,500,000- $2,999,999: 1
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Average Price: $728,271

Median Price: $650,000

Average Days on Market: 56

Highest Priced Listing: $1,595,000

Lowest Priced Listing: $399,600


There was some new activity this past week with 5 new listings and 5 price reductions. Three of the 5 price reductions were for new construction homes. This signals a bit of a change in the market, since it's been rare that builders have reduced any inventory. One of the other price reductions is for a resale home that came back on the market newly priced at $20,000 less than the previous list price. This home was also mentioned last week as one of the homes that had sold, but had come back on the market again. Another listing had an offer and also came back on the market.