Team Luxe Real Estate | Market Insights
Redmond, WA
Single-Family Homes
206-672-5724 | https://teamluxere.com/
Redmond, WA
Sun Dec 22 2024
This week the median list price for Redmond, WA is $1,499,500 with the market action index hovering around 66. This is an increase over last month's market action index of 61. Inventory has decreased to 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $1,499,500 | |
| Median Price of New Listings | $1,375,000 | |
| Per Square Foot | $755 | |
| Average Days on Market | 83 | |
| Median Days on Market | 49 | |
| Price Decreased | 33% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 66 | |
| Strong Seller's Market | ||
The market seems to have paused around this plateau. This week prices eased down a bit.Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,598,975 | 4,941 | 1 - 2.5 acres | 6 | 5.5 | 18 | 0 | 0 | 98 |
| $2,497,500 | 3,040 | 2.5 - 5 acres | 3 | 3 | 39 | 2 | 2 | 45 |
| $1,410,000 | 2,180 | 1 - 2.5 acres | 4 | 2.5 | 49 | 1 | 1 | 101 |
| $1,042,500 | 1,378 | - | 3 | 2 | 43 | 1 | 1 | 28 |