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Home Prices in Redmond WA for November 2012
Real estate market data for Redmond, WA provided by Ellen Smith of East Lake Real Estate Company.
Redmond Home Prices
We have seen 11 straight months of listing price increases on home prices in Redmond and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Redmond but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Redmond home on which you are making an offer.
If you are interested in how much current inventory is on the market in Redmond you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Redmond, homes have a median time of 75 days on the market before they sell. This would suggest that buyers are in a great position to make an aggresive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Redmond has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
The median list price in November for single family homes in Redmond is $629,000. The list prices increased by 0.84% from the previous month.
The price per square foot for listings in this area is $255.
The median sale price in August for single family homes is $562,881. The sale prices dropped by -0.81% from the previous month.
The price per square foot for sales in this area is $155.
Find Homes for Sale in Redmond WA
Visit my website to search for homes in Redmond or to be notified when Redmond homes come on the market.
To find out what you home is worth in the current market email me or call 555-952-5789.