George Moorhead | Real Estate Market in Redmond WA
Redmond, WA August 2026 Housing Market
July 2026 was a Neutral market! The number of for sale listings was up 50.4% from one year earlier and up 3% from the previous month. The number of sold listings decreased 14.9% year over year and increased 5% month over month. The number of under contract listings was down 5.6% compared to previous month and down 20.3% compared to previous year. The Months of Inventory based on Closed Sales was 3.2, up 76.7% from the previous year.
The Average Sold Price per Square Footage was down 7.4% compared to previous month and down 5.7% compared to last year. The Median Sold Price decreased by 6.7% from last month. The Average Sold Price also decreased by 10.9% from last month. Based on the 6 month trend, the Average Sold Price trend was "Depreciating" and the Median Sold Price trend was "Neutral".
The Average Days on Market showed a downward trend, was the same compared to previous year. The ratio of Sold Price vs. Original List Price was 97%, a decrease of 1% compared to previous year.
Video edited on Kapwing
It was a Neutral Market
Property Sales (Sold)
July property sales were 63, down 14.9% from 74 in July of 2025 and 5% higher than the 60 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 68 units of 50.4%. 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 3% compared to the previous month.
Property Under Contract (Pended)
There was a decrease of 5.6% in the pended properties in July, with 51 properties versus 54 last month. This month's pended property sales were 20.3% lower than at this time last year.
All reports are published August 2026, based on data available at the end of July 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 July 2026 Average Sold Price per Square Footage of $628 was down 7.4% from $678 last month and down 5.7% from $666 in July of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Downward 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 July 2026 was 18, down 10% from 20 days last month and the same as in July 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 97% was the same as last month and down from 1% % in July of last year.
* Based on 6 month trend - Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published August 2026, based on data available at the end of July 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 Neutral*
The Average For Sale Price in July was $1,882,000, down 7.2% from $2,028,000 in July of 2025 and down 3.2% from $1,945,000 last month.
The Average Sold Price was Depreciating*
The Average Sold Price in July was $1,620,000, up 1.1% from $1,603,000 in July of 2025 and down 10.9% from $1,819,000 last month.
The Median Sold Price was Neutral*
The Median Sold Price in July was $1,470,000, down 2.6% from $1,509,000 in July of 2025 and down 6.7% from $1,575,000 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 July 2026 Months of Inventory based on Closed Sales of 3.2 was increased by 76.7% compared to last year and down 3% compared to last month. July 2026 was Neutral market.
Months of Inventory based on Pended Sales
The July 2026 Months of Inventory based on Pended Sales of 4 was increased by 90.1% compared to last year and up 11% compared to last month. July 2026 was Neutral market.
All reports are published August 2026, based on data available at the end of July 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 July 2026 Absorption Rate based on Closed Sales of 31 was decreased by 43.4% compared to last year and up 1.6% compared to last month.
Absorption Rate based on Pended Sales
The July 2026 Absorption Rate based on Pended Sales of 25.1 was decreased by 47% compared to last year and down 8.4% compared to last month.
All reports are published August 2026, based on data available at the end of July 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 9/5/2026 2:54 PM.
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.