Redmond, WA housing market

Redmond home values have slipped about 4 percent over the past year, and roughly one in five sellers has already cut their price. That combination tells the real story here this month. The typical Redmond home is now worth around one million three hundred eighty-three thousand dollars, and the pressure is showing up in how listings are behaving. About 21 percent of active listings carry a price cut, which means sellers who aimed high are getting corrected by the market. There are about 280 homes for sale right now, with roughly 130 new listings coming on, so buyers have a steady flow of options and less reason to chase. Notice the median list price sits near one million three hundred sixteen thousand dollars, below the typical value, which suggests sellers are already pricing defensively. Homes are taking about 36 days to sell, not frozen, but slow enough that an ambitious price will stall. The takeaway for Redmond homeowners: this is a market that punishes overpricing. Price at the number, not above it, and you can still sell on a reasonable timeline.