Carrington Durr Group | Real Estate Market Report
Redmond, WA 98052
Single-Family Homes
John L Scott Real Estate | 206-948-3852 | wlc@johnlscott.com
Redmond, WA 98052
Sun Apr 28 2024
This week the median list price for Redmond, WA 98052 is $1,879,450 with the market action index hovering around 79. This is less than last month's market action index of 81. Inventory has increased to 30.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’ll be looking for a persistent downward trend. If we see a persistent trend, especially if the MAI falls from the Seller’s Market zone to the Buyer’s Market zone, expect downward pressure on prices. There is already some evidence prices moving lower.
Real-Time Market Profile
| Median List Price | $1,879,450 | |
| Median Price of New Listings | $1,695,000 | |
| Per Square Foot | $734 | |
| Average Days on Market | 37 | |
| Median Days on Market | 4 | |
| Price Decreased | 23% | |
| Price Increased | 3% | |
| Relisted | 7% | |
| Inventory | 30 | |
| Median Rent | ||
| Market Action | 79 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,395,000 | 4,110 | 0.5 - 1 acre | 4 | 3.3 | 24 | 1 | 0 | 42 |
| $2,399,500 | 2,950 | 8,000 - 10,000 sqft | 4 | 2.8 | 45 | 3 | 1 | 14 |
| $1,696,500 | 2,510 | 6,500 - 8,000 sqft | 4 | 2.5 | 31 | 6 | 3 | 0 |
| $1,345,000 | 1,855 | 8,000 - 10,000 sqft | 4 | 2.4 | 49 | 5 | 4 | 0 |