Is Redmond, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Redmond is a seller's market

Buyer's
Market

Difference Since July 2021

Since last year, Redmond has remained a Seller's Market.

Key Takeaway

Redmond is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Redmond, WA cost?

Median Sold Price

$1,100,001

$675/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$189,626(+20.8%)

Key Takeaway

Homes in Redmond have sold for 20.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $330K$380K
+15.2%
2 $535K$618K
+15.5%
3 $850K$1.1M
+37.9%
4 $1.2M$1.7M
+35.6%
5+ $1.5M$1.8M
+23.7%

Median Sold Price Compared To Nearby Cities

Sammamish
+32.3%
Bellevue
+24.1%
Seattle East
+23.7%
Redmond
+20.8%
Kirkland
+11.9%

How many homes are available in Redmond, WA?

Number of Homes For Sale

Jun 2022Jul 2022%
184223+21.2%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 1317
+30.8%
2 3551
+45.7%
3 5953
-10.2%
4 5276
+46.2%
5+ 2526
+4.0%

Number of Homes Sold

Jun 2022Jul 2022%
5863+8.6%

Asking Price vs. Sold Price

35 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Redmond, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Average Sale Time

Jul 2021Jul 2022%
13 Days15 Days+20.5%

Breakdown of Home Sale Times

53 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Redmond are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Redmond, WA

Redmond, WA has 223 homes for sale to choose from. In July 2022 in Redmond, WA there were 21.2% more homes for sale than in June 2022. The median list price of listings available in July 2022 was $1,100,001, while the average time on the real estate market was 15 days. This housing market listing prices have changed between June 2022 and July 2022: 1 bedroom properties prices increased by 15.2%, 2 bedrooms properties became 15.5% more expensive, the cost of 3 bedrooms properties went up by 37.9%, prices of 4 bedrooms properties went up by 35.6%, 5 bedrooms properties became 23.7% more expensive. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went up by 30.8%, volume of 2 bedrooms homes went up by 45.7%, 3 bedrooms homes inventory decreased by 10.2%, the quantity of 4 bedrooms homes went up by 46.2%, 5 bedrooms homes became 4% more available. In July 2022, from all listings sold in Redmond, WA there were more than 14 sold above asking price, over 35 sold below and more than 14 were sold right at the asked price.

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