Dec. 25, 2009 - Redmond Real Estate 2009

Redmond is showing a much stronger housing market than Kirkland in the previous post. The snapshot of Success and Failure graph shows the strongest sector to be the $400,000 to $500,000 price range and unlike Kirkland, most every price tier had a higher success vs. failure rate. To understand that you may have to read and study the Kirkland post.

I'm anxious to do the stats for Bellevue so that I can do a comparison post for The Eastside. The only thing that surprised me in the Redmond Single Family Home market in the graph above, is the over a million sector. Redmond just doesn't compete in the high end well, because the other areas with more high end also have water access or water views of Lake Washington or Lake Sammamish.

It boggles my mind how 53 people are still trying to sell for over a million dollars when there were 98 failed attempts and only 12 sold in the entire year for over a million dollars.

Let's take a look at Redmond condos.

When it comes to condos, the story is pretty much the same in that there is no truly well performing tier. Condos became more popular when people were priced out of the single family home market. But when you can buy a house at that price, the condo market suffers.

Remember that for the most part condos on The Eastside include townhomes. Redmond has many more newer townhomes with garages than Kirkland, so no surprise that the Redmond condo market is outperforming the Kirkland condo market.

Required Disclosure: Stats in this post are not compiled, verified or posted by The Northwest Multiple Listing Service.

Dec. 27, 2009 - RE: Redmond Real Estate 2009

love the way you graphed this - really helps tell the story which most peopl know untuitively; I subscribe to your posts and appreciate your insights.

Dec. 27, 2009 - RE: Redmond Real Estate 2009

 Thank you, Kathy. I find it helps to test your perception and intuition against the cold hard facts from time to time. I especially try to look at everything I can before the new year starts to establish a sort of baseline. Then I can see what's changing and what isn't.

Mar. 8, 2010 - RE: Redmond Real Estate 2009

I appreciate this awesome real estate blog. Thanks