Redmond WA Housing Market Trends 2026
Redmond, WA June 2026 Housing Market
May 2026 was a Neutral market! The number of for sale listings was up 52.3% from one year earlier and up 33.6% from the previous month. The number of sold listings decreased 7.7% year over year and increased 7.1% month over month. The number of under contract listings was up 10.3% compared to previous month and down 8.6% compared to previous year. The Months of Inventory based on Closed Sales was 3.3, up 66% from the previous year.
The Average Sold Price per Square Footage was down 8.6% compared to previous month and down 11.2% compared to last year. The Median Sold Price decreased by 7.4% from last month. The Average Sold Price also decreased by 1.8% from last month. Based on the 6 month trend, the Average Sold Price trend was "Depreciating" and the Median Sold Price trend was "Depreciating".
The Average Days on Market showed a neutral trend, an increase of 46.2% compared to previous year. The ratio of Sold Price vs. Original List Price was 97%, a decrease of 3% compared to previous year.
Video edited on Kapwing
It was a Neutral Market
Property Sales (Sold)
May property sales were 60, down 7.7% from 65 in May of 2025 and 7.1% higher than the 56 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 67 units of 52.3%. 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 33.6% compared to the previous month.
Property Under Contract (Pended)
There was an increase of 10.3% in the pended properties in May, with 64 properties versus 58 last month. This month's pended property sales were 8.6% lower than at this time last year.
All reports are published June 2026, based on data available at the end of May 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 May 2026 Average Sold Price per Square Footage of $608 was down 8.6% from $665 last month and down 11.2% from $685 in May 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 May 2026 was 19, down 9.5% from 21 days last month and up 46.2% from 13 days in May 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 97% was down 2% % from last month and down from 3% % in May of last year.
* Based on 6 month trend - Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
All reports are published June 2026, based on data available at the end of May 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 May was $1,949,000, down 7.1% from $2,097,000 in May of 2025 and up 8.6% from $1,794,000 last month.
The Average Sold Price was Depreciating*
The Average Sold Price in May was $1,629,000, down 7.9% from $1,768,000 in May of 2025 and down 1.8% from $1,659,000 last month.
The Median Sold Price was Depreciating*
The Median Sold Price in May was $1,435,000, down 16.8% from $1,725,000 in May of 2025 and down 7.4% from $1,550,000 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 May 2026 Months of Inventory based on Closed Sales of 3.3 was increased by 66% compared to last year and up 26.8% compared to last month. May 2026 was Neutral market.
Months of Inventory based on Pended Sales
The May 2026 Months of Inventory based on Pended Sales of 3 was increased by 65.6% compared to last year and up 19.9% compared to last month. May 2026 was Neutral market.
All reports are published June 2026, based on data available at the end of May 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 May 2026 Absorption Rate based on Closed Sales of 30.8 was decreased by 39.4% compared to last year and down 19.8% compared to last month.
Absorption Rate based on Pended Sales
The May 2026 Absorption Rate based on Pended Sales of 32.8 was decreased by 40% compared to last year and down 17.4% compared to last month.
All reports are published June 2026, based on data available at the end of May 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.
