May. 11, 2008 - Redmond Washington Sales Stats 98052

Redmond Washington 98052 faring better than King County as a whole.

Residential Volume in King County is down 32% YTD in 2008 vs. 2007.  Redmond 98052 is down 20%

Median Sale price in April of 2008 was $605,000 vs. $642,550 in April of 2007

MPPSF April 2008 $246 vs. $256 in 2008.  YTD MPPSF only $263 in 08 vs. $264 in 07.

I did see some significant price drops on Fall inventory that was still hanging around.  Likely in an effort to get sold before new 2008 inventory started flooding the market.  This could account for the drop in prices in April.  Let's see if it swings back or if sellers use the recent reduced prices as comps at time of setting their list prices.  Or if buyers hold out for the comp prices. 

Median prices in March were the same in 07 vs. 08 at $575,000.  So prices just didn't jump up as high March to April in 2008 vs. 2007.  Again, I think this is somewhat due to stale inventory making a huge effort to get sold before new inventory takes over the market and they get left behind.

256 homes for sale, 81 in escrow and 140 sold YTD and 43 sold in April (vs. 48 sold in April 07) Pretty strong numbers in April vs. the County as a whole.

Condos: 122 for sale asking $315 per square foot (median price per square foot)

40 in escrow - $292 MPPSF based on asking price

98 sold YTD $295 MPPSF

32 of those closed in April at a median price of $344,950 MPPSF of $320

39 sold last April at a median price of $326,000 MPPSF of $307.

So prices up, volume down though the properties in escrow are likely to show a decline once closed, given the asking is $292 per square foot...unless they all sold over asking price, which I seriously doubt.

Redmond 98053 is not considered in the above stats.

Required Disclaimer: These stats NOT Compiled or Published by NWMLS and are hand calculated by ARDELL