Redmond, Washington Real Estate Cools Slightly With The Weather
by Blanche Evans
Realtors in Redmond, Washington say that the quality of life coupled with the beauty of the Northwest keeps home values high, but sales have softened from a seller's market, nonetheless. "Redmond is the seventh most populous city in King County and the sixteenth most populous city in the State of Washington, with a residential population of 46,900 in 2004," says Realtor Robin Root James. "It encompasses an area of over 16.65 square miles and is located less than 20 miles east of downtown Seattle at the north end of Lake Sammamish. The city prides itself for its high quality of life with good schools, a healthy economic base, a parks system that provides a variety of active and passive recreational opportunities, diverse offerings for shopping and dining, safe neighborhoods, and an emphasis on quality development and protection of the natural environment." "The Pacific Ocean, Puget Sound, mountains, rain rorest, desert, and moderate temperatures - we have it all within two hours of town," says Realtor Jirius Isaac. About the market, Isaac says, "The market here has been incredibly good for several years now and started to cool lately. Interest rates went up a whole point, but they have crept down recently, which is good for the real estate market is no longer a sellers' market except maybe at the low end of the price scale. Prices in the under $350,000 are continuing to rise, but at a lower rate then in the past. Houses in the $350,000 to $500,000 are maintaining their own and taking a little while to sell. Houses at the high end are actually seeing a drop in price due to the economy and the high tech industry problems we have seen lately." Says Realtor Beth Bronecki, "Demand for housing around Western Washington remained strong with brokers reporting a 19.4 percent jump in pending sales compared to the same month a year ago. The latest figures from Northwest Multiple Listing Service also show healthy increases in the number of new listings and the volume of closed sales for its 14-county market area." |
