Carrington Durr Group | Real Estate Market Report
Redmond, WA 98053
Single-Family Homes
John L Scott Real Estate | 206-948-3852 | wlc@johnlscott.com
Redmond, WA 98053
Mon Apr 29 2024
This week the median list price for Redmond, WA 98053 is $1,797,500 with the market action index hovering around 83. This is an increase over last month's market action index of 81. 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
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $1,797,500 | |
| Median Price of New Listings | $1,750,000 | |
| Per Square Foot | $612 | |
| Average Days on Market | 45 | |
| Median Days on Market | 21 | |
| Price Decreased | 14% | |
| Price Increased | 7% | |
| Relisted | 7% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 83 | |
| Strong Seller's Market | ||
In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,796,000 | 4,937 | 2.5 - 5 acres | 3 | 2.5 | 12 | 0 | 0 | 28 |
| $2,475,000 | 3,600 | 2.5 - 5 acres | 5 | 3 | 26 | 2 | 0 | 0 |
| $1,772,500 | 3,024 | 0.5 - 1 acre | 3 | 2.6 | 20 | 1 | 1 | 21 |
| $885,000 | 1,616 | 4,500 - 6,500 sqft | 3 | 2 | 20 | 2 | 1 | 21 |