Real Estate Market Report
Redmond, WA 98053
Single-Family Homes
John L Scott Real Estate | 206-650-0415 | vand@johnlscott.com
Redmond, WA 98053
Sun Mar 16 2025
This week the median list price for Redmond, WA 98053 is $1,453,500 with the market action index hovering around 59. This is less than last month's market action index of 69. Inventory has increased to 14.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,453,500 | |
| Median Price of New Listings | $1,034,700 | |
| Per Square Foot | $713 | |
| Average Days on Market | 52 | |
| Median Days on Market | 18 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 59 | |
| Strong Seller's Market | ||
Prices is this zip code this week saw relatively little change from last week. However the market appears to be trying to establish an uptrend. Keep an eye on the Market Action Index to determine if demand will help push prices higher.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,000,000 | 4,000 | 1 - 2.5 acres | 3 | 3 | 69 | 0 | 1 | 84 |
| $1,750,000 | 2,380 | 6,500 - 8,000 sqft | 3 | 3 | 18 | 1 | 1 | 7 |
| $1,154,000 | 2,336 | 0.25 - 0.5 acre | 3 | 3 | 36 | 1 | 1 | 21 |
| $851,388 | 1,265 | 6,500 - 8,000 sqft | 2 | 1.5 | 37 | 2 | 0 | 7 |