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

Sellers had a 33% chance of selling a home in West Redmond in July, 2007.
(statistics obtained from MLS and Windermere data. Sales are pending, not closed sales)


I mentioned in last month's report the sales activity was coming back down to earth and it has now landed! Although inventory in the area is the second lowest on the Eastside, it has increased dramatically from the first of the year. There are double the amount of homes available than in January. We have gone from 107 listings to 205 listings. We are now seeing some price reductions. Market time has also increased dramatically since the first of the year. In my first Friday real estate buzz posted last week, I mentioned market time is now 56 days. The market is moving more into a buyer's market for the first time this year.

For the full Eastside buzz on all the neighborhoods, you can check out www.eastsiderealestatebuzz.com