George Moorhead | Real Estate Market in Redmond WA
Redmond, WA September 2026 Housing Market
August 2026 was a Neutral market! The number of for sale listings was up 48.1% from one year earlier and down 4.4% from the previous month. The number of sold listings decreased 21.9% year over year and decreased 20.6% month over month. The number of under contract listings was up 45.8% compared to previous month and up 25% compared to previous year. The Months of Inventory based on Closed Sales was 3.9, up 92.8% from the previous year.
The Average Sold Price per Square Footage was up 0.8% compared to previous month and down 2.2% compared to last year. The Median Sold Price decreased by 1% from last month. The Average Sold Price also increased by 7.2% from last month. Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Depreciating".
The Average Days on Market showed a upward trend, an increase of 65% compared to previous year. The ratio of Sold Price vs. Original List Price was 95%, a decrease of 2.1% compared to previous year.
It was a Neutral Market
Property Sales (Sold)
August property sales were 50, down 21.9% from 64 in August of 2025 and 20.6% lower than the 63 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 63 units of 48.1%. 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 down 4.4% compared to the previous month.
Property Under Contract (Pended)
There was an increase of 45.8% in the pended properties in August, with 70 properties versus 48 last month. This month's pended property sales were 25% higher than at this time last year.
All reports are published September 2026, based on data available at the end of August 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 August 2026 Average Sold Price per Square Footage of $633 was up 0.8% from $628 last month and down 2.2% from $647 in August of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Upward 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 August 2026 was 33, up 83.3% from 18 days last month and up 65% from 20 days in August of last year.
The Sold/Original List Price Ratio was Falling**
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 95% was down 2.1% % from last month and down from 2.1% % in August of last year.
* Based on 6 month trend - Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published September 2026, based on data available at the end of August 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 Appreciating*
The Average For Sale Price in August was $1,983,000, up 2.7% from $1,930,000 in August of 2025 and up 5.4% from $1,882,000 last month.
The Average Sold Price was Neutral*
The Average Sold Price in August was $1,737,000, up 3.4% from $1,680,000 in August of 2025 and up 7.2% from $1,620,000 last month.
The Median Sold Price was Depreciating*
The Median Sold Price in August was $1,456,000, down 4.3% from $1,522,000 in August of 2025 and down 1% from $1,470,000 last month.
* Based on 6 month trend - Appreciating/Depreciating/Neutral
It was a Neutral 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 August 2026 Months of Inventory based on Closed Sales of 3.9 was increased by 92.8% compared to last year and up 21.7% compared to last month. August 2026 was Neutral market.
Months of Inventory based on Pended Sales
The August 2026 Months of Inventory based on Pended Sales of 2.8 was increased by 21.4% compared to last year and down 33.1% compared to last month. August 2026 was Seller's market.
All reports are published September 2026, based on data available at the end of August 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 Neutral 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 August 2026 Absorption Rate based on Closed Sales of 25.8 was decreased by 47.3% compared to last year and down 16.8% compared to last month.
Absorption Rate based on Pended Sales
The August 2026 Absorption Rate based on Pended Sales of 36.1 was decreased by 15.4% compared to last year and up 52.9% compared to last month.
All reports are published September 2026, based on data available at the end of August 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.
Listings courtesy of Northwest Multiple Listing Service (NWMLS) as distributed by MLS GRID.
IDX information is provided exclusively for consumers' personal non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Based on information submitted to the MLS GRID as of 9/10/2026 6:41 AM.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.