Team Luxe Real Estate | Market Insights

Redmond, WA

Single-Family Homes

206-672-5724 | https://teamluxere.com/



Redmond, WA

Wed Oct 09 2024
This week the median list price for Redmond, WA is $1,690,000 with the market action index hovering around 58. This is an increase over last month's market action index of 54. Inventory has decreased to 59. Click here to stay informed with the Redmond market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Redmond, WA

Wed Oct 09 2024
This week the median list price for Redmond, WA is $1,690,000 with the market action index hovering around 58. This is an increase over last month's market action index of 54. Inventory has decreased to 59. Click here to stay informed with the Redmond market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Redmond market.
Median List Price $1,690,000
Median Price of New Listings $1,410,000
Per Square Foot $658
Average Days on Market 62
Median Days on Market 42
Price Decreased 46%
Price Increased 2%
Relisted 14%
Inventory 59
Median Rent
Market Action 58
Strong Seller's Market

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$3,599,000 4,710 0.25 - 0.5 acre 4 5 16 2 1 73
$2,000,000 3,410 0.5 - 1 acre 4 4 21 1 7 56
$1,575,000 2,310 0.5 - 1 acre 4 3 49 3 1 42
$1,200,000 2,040 8,000 - 10,000 sqft 3 3 43 6 5 21