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Redmond, WA 98052
Single-Family Homes
Here is your weekly Market Update!
Redmond, WA 98052
Thu Nov 21 2024
This week the median list price for Redmond, WA 98052 is $2,322,500 with the market action index hovering around 59. This is about the same as last month's market action index of 59. Inventory has decreased to 26.
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
| Median List Price | $2,322,500 | |
| Median Price of New Listings | $2,733,000 | |
| Per Square Foot | $722 | |
| Average Days on Market | 85 | |
| Median Days on Market | 56 | |
| Price Decreased | 38% | |
| Price Increased | 0% | |
| Relisted | 4% | |
| Inventory | 26 | |
| Median Rent | ||
| Market Action | 59 | |
| Strong Seller's Market | ||
Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,098,975 | 4,672 | 0.25 - 0.5 acre | 6 | 5 | 18 | 1 | 0 | 35 |
| $3,049,000 | 3,836 | 0.25 - 0.5 acre | 5 | 5 | 2 | 3 | 0 | 10 |
| $1,699,000 | 2,940 | 0.25 - 0.5 acre | 4 | 4 | 51 | 0 | 1 | 140 |
| $1,250,000 | 1,560 | 0.5 - 1 acre | 3 | 2 | 51 | 3 | 0 | 14 |