Is Redmond, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$1,227,933
$602/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Redmond was $1,227,933 in March 2024, up 2.3% from last year, and the median price per square foot was $602.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $415K | $380K | -8.4% |
2 Bedrooms | $630K | $803K | +27.5% |
3 Bedrooms | $1.1M | $1.1M | -0.7% |
4 Bedrooms | $1.7M | $1.6M | -4.1% |
5+ Bedrooms | $1.9M | $1.9M | -0.9% |
Summary: Redmond housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.4%, 2 bedroom homes increased by 27.5%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes decreased by 0.9%.
Median Sold Price Compared To Nearby Cities
Seattle East | $1.1M | $1.1M | +4.0% |
Redmond | $1.2M | $1.2M | +2.3% |
Bellevue | $1.3M | $1.4M | +2.1% |
Sammamish | $1.6M | $1.6M | -0.2% |
Housing Supply in Redmond, WA
How many homes are available in Redmond, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
155 | 224 | +44.5% |
Summary: The Redmond real estate market had 224 homes for sale in March 2024, a 44.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 10 | 0.0% |
2 Bedrooms | 40 | 64 | +60.0% |
3 Bedrooms | 45 | 68 | +51.1% |
4 Bedrooms | 38 | 53 | +39.5% |
5+ Bedrooms | 22 | 29 | +31.8% |
Summary: The Redmond housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 51.1%, 4 bedroom homes increased by 39.5%, and 5+ bedroom homes increased by 31.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
48 | 66 | +37.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Summary: A total of 66 homes were sold or pending in Redmond in March 2024, up by 37.5% month-over-month. Of the 66 sold homes, 17% were sold under asking, 18% were sold at asking, and 65% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
44 Days | 6 Days | -84.8% |
Summary: Homes in Redmond had an average of 6 days on market in Mar 2024, down by 84.8% compared to last year.
Breakdown of Home Sale Times
63 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 66 homes were sold in Redmond; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.