Is Redmond, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$1,279,858
$615/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Redmond was $1,279,858 in June 2024, up 8.7% from last year, and the median price per square foot was $615.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $382.5K | $379.9K | -0.7% |
2 Bedrooms | $647.5K | $832.5K | +28.6% |
3 Bedrooms | $1.0M | $1.1M | +8.7% |
4 Bedrooms | $1.6M | $1.6M | +5.9% |
5+ Bedrooms | $1.8M | $2.0M | +11.2% |
Summary: Redmond housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
Seattle East | $1.0M | $1.2M | +13.9% |
Bellevue | $1.3M | $1.4M | +12.5% |
Sammamish | $1.5M | $1.6M | +9.5% |
Redmond | $1.1M | $1.2M | +8.7% |
Housing Supply in Redmond, WA
How many homes are available in Redmond, WA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
288 | 296 | +2.8% |
Summary: The Redmond real estate market had 296 homes for sale in June 2024, a 2.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 16 | +60.0% |
2 Bedrooms | 72 | 75 | +4.2% |
3 Bedrooms | 89 | 83 | -6.7% |
4 Bedrooms | 90 | 88 | -2.2% |
5+ Bedrooms | 27 | 34 | +25.9% |
Summary: The Redmond housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 4.2%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 25.9%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
109 | 83 | -23.9% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Summary: A total of 83 homes were sold or pending in Redmond in June 2024, down by 23.9% month-over-month. Of the 83 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
14 Days | 11 Days | -19.7% |
Summary: Homes in Redmond had an average of 11 days on market in Jun 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 83 homes were sold in Redmond; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.