Fri Nov 22 2019
This week the median list price for Redmond, WA is $1,134,000 with the market action index hovering around 45. This is less than last month's market action index of 46. Inventory has held steady at or around 103.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,134,000|
|Per Square Foot||$402|
|Days on Market||89|
|Strong Seller's Market|
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,975,000||5,390||1 - 2.5 acres||4||4||14||0||0||89|
|$1,369,975||3,405||0.5 - 1 acre||4||2||20||3||3||101|
|$933,975||2,610||0.25 - 0.5 acre||3||2||22||5||7||64|
|$691,500||1,535||0.5 - 1 acre||2||1||34||2||4||102|