Redmond, WA home prices and housing market

Redmond home values have slipped nearly four percent over the past year, and buyers have taken notice. If you are weighing a sale this year, here is what that shift means for your price and your timeline. The typical Redmond home is now worth about one million three hundred thirty-five thousand dollars, and there are roughly 286 homes on the market competing for buyers. Those homes are taking their time, sitting a median of forty-eight days before finding a buyer, and about one in five listings has already cut its price. But the detail that tells the real story is the asking prices themselves. The median list price is around one million two hundred forty-four thousand five hundred dollars, roughly ninety thousand dollars below the typical home value. Sellers are already pricing under where values sit, and buyers know they have room to negotiate. So if you list, price for today's market, not last year's. In a market where homes sit nearly seven weeks and a fifth of sellers are cutting, an ambitious asking price buys you waiting time and then a reduction. To see where your home stands right now, get a free home value estimate at Home Value Pros dot com.