Is Redmond, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Redmond has remained a Seller's Market.
Housing Prices in Redmond, WA
How much do homes in Redmond, WA cost?
Median Sold Price
$1,253,333
$609/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Redmond was $1,253,333 in April 2024, up 6.3% from last year, and the median price per square foot was $609.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $406K | $380K | -6.4% |
2 Bedrooms | $625K | $792K | +26.7% |
3 Bedrooms | $1.1M | $1.1M | +3.6% |
4 Bedrooms | $1.6M | $1.6M | +1.2% |
5+ Bedrooms | $1.8M | $2.0M | +9.6% |
Summary: Redmond housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
Seattle East | $1.0M | $1.1M | +8.9% |
Bellevue | $1.3M | $1.4M | +7.9% |
Redmond | $1.1M | $1.2M | +6.3% |
Sammamish | $1.5M | $1.6M | +3.9% |
Housing Supply in Redmond, WA
How many homes are available in Redmond, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
217 | 243 | +12.0% |
Summary: The Redmond real estate market had 243 homes for sale in April 2024, a 12.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 8 | -11.1% |
2 Bedrooms | 62 | 65 | +4.8% |
3 Bedrooms | 63 | 78 | +23.8% |
4 Bedrooms | 54 | 64 | +18.5% |
5+ Bedrooms | 29 | 28 | -3.4% |
Summary: The Redmond housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes decreased by 3.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 96 | +41.2% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Summary: A total of 96 homes were sold or pending in Redmond in April 2024, up by 41.2% month-over-month. Of the 96 sold homes, 20% were sold under asking, 24% were sold at asking, and 56% were sold over asking.
Days on Market for Redmond, WA
How long does it take to sell a home in Redmond, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 11 Days | -47.0% |
Summary: Homes in Redmond had an average of 11 days on market in Apr 2024, down by 47% compared to last year.
Breakdown of Home Sale Times
91 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 96 homes were sold in Redmond; 95% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.