Redmond WA Housing Market Trends 2026
Redmond, WA May 2026 Housing Market
April 2026 was a Seller's market! The number of for sale listings was up 67.8% from one year earlier and up 30.4% from the previous month. The number of sold listings decreased 23.3% year over year and increased 16.7% month over month. The number of under contract listings was up 1.7% compared to previous month and the same compared to previous year. The Months of Inventory based on Closed Sales was 2.6, up 117.5% from the previous year.
The Average Sold Price per Square Footage was down 5.8% compared to previous month and down 4.9% compared to last year. The Median Sold Price was the same as last month. The Average Sold Price also decreased by 9.6% from last month. Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Neutral".
The Average Days on Market showed a neutral trend, an increase of 40% compared to previous year. The ratio of Sold Price vs. Original List Price was 99%, a decrease of 2% compared to previous year.
Video edited on Kapwing
It was a Seller's Market
Property Sales (Sold)
April property sales were 56, down 23.3% from 73 in April of 2025 and 16.7% higher than the 48 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 59 units of 67.8%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was up 30.4% compared to the previous month.
Property Under Contract (Pended)
There was an increase of 1.7% in the pended properties in April, with 61 properties versus 60 last month. This month's pended property sales were the same as at this time last year.
All reports are published May 2026, based on data available at the end of April 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
The Average Sold Price per Square Footage was Neutral*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The April 2026 Average Sold Price per Square Footage of $665 was down 5.8% from $706 last month and down 4.9% from $699 in April of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for April 2026 was 21, up 16.7% from 18 days last month and up 40% from 15 days in April of last year.
The Sold/Original List Price Ratio Remains Steady**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 99% was down 1% % from last month and down from 2% % in April of last year.
* Based on 6 month trend - Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published May 2026, based on data available at the end of April 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
The Average For Sale Price was Depreciating*
The Average For Sale Price in April was $1,794,000, down 10.9% from $2,013,000 in April of 2025 and down 8.5% from $1,961,000 last month.
The Average Sold Price was Neutral*
The Average Sold Price in April was $1,659,000, down 6% from $1,765,000 in April of 2025 and down 9.6% from $1,836,000 last month.
The Median Sold Price was Neutral*
The Median Sold Price in April was $1,550,000, down 8.3% from $1,690,000 in April of 2025 and the same as last month.
* Based on 6 month trend - Appreciating/Depreciating/Neutral
It was a Seller's Market*
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
*Buyer’s Market: More than 6 months of inventory
Seller’s Market: Less than 3 months of inventory
Neutral Market: 3 – 6 months of inventory
Months of Inventory based on Closed Sales
The April 2026 Months of Inventory based on Closed Sales of 2.6 was increased by 117.5% compared to last year and up 12.9% compared to last month. April 2026 was Seller's market.
Months of Inventory based on Pended Sales
The April 2026 Months of Inventory based on Pended Sales of 2.4 was increased by 70.1% compared to last year and up 26.8% compared to last month. April 2026 was Seller's market.
All reports are published May 2026, based on data available at the end of April 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
It was a Seller's Market*
Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.
*Buyer’s market: 16.67% and below
Seller’s market: 33.33% and above
Neutral market: 16.67% - 33.33%
Absorption Rate based on Closed Sales
The April 2026 Absorption Rate based on Closed Sales of 38.4 was decreased by 54.2% compared to last year and down 10.5% compared to last month.
Absorption Rate based on Pended Sales
The April 2026 Absorption Rate based on Pended Sales of 41.8 was decreased by 40.4% compared to last year and down 22% compared to last month.
All reports are published May 2026, based on data available at the end of April 2026, except for the today’s stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
