$10,000 Closing Credit*
$1,695,000
2,680 SqFt
2 Beds
•2 Full Baths, 1 Partial
Pat Wenzel, Listing Office: Windermere Real Estate/East
Is Redmond, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
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.
Housing Prices in Redmond, WA
How much do homes in Redmond, WA cost?
Median Sold Price
$1,325,620
$632/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$131,781(+11.0%)
Key Takeaway
Homes in Redmond have sold for 11% more than they did a year ago.
Summary: The median home sold price in Redmond was $1,325,620 in October 2024, up 11% from last year, and the median price per square foot was $632.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $380K | $384.9K | +1.3% |
| 2 Bedrooms | $719K | $850K | +18.2% |
| 3 Bedrooms | $1.1M | $1.2M | +11.7% |
| 4 Bedrooms | $1.6M | $1.6M | +2.5% |
| 5+ Bedrooms | $1.8M | $2.3M | +23.3% |
Summary: Redmond housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 23.3%.
Median Sold Price Compared To Nearby Cities
| Seattle East | $1.1M | $1.2M | +17.9% |
| Bellevue | $1.3M | $1.5M | +14.0% |
| Redmond | $1.1M | $1.3M | +11.0% |
| Sammamish | $1.5M | $1.7M | +9.7% |
Housing Supply in Redmond, WA
How many homes are available in Redmond, WA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 305 | 295 | -3.3% |
Summary: The Redmond real estate market had 295 homes for sale in October 2024, a 3.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 23 | +4.5% |
| 2 Bedrooms | 87 | 85 | -2.3% |
| 3 Bedrooms | 82 | 80 | -2.4% |
| 4 Bedrooms | 86 | 78 | -9.3% |
| 5+ Bedrooms | 28 | 29 | +3.6% |
Summary: The Redmond housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.5%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 120 | +39.5% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redmond, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 120 homes were sold or pending in Redmond in October 2024, up by 39.5% month-over-month. Of the 120 sold homes, 39% were sold under asking, 21% were sold at asking, and 40% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 21 Days | +10.2% |
Summary: Homes in Redmond had an average of 21 days on market in Oct 2024, up by 10.2% compared to last year.
Breakdown of Home Sale Times
88 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redmond are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 120 homes were sold in Redmond; 73% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.