Redmond’s Microsoft real estate market remains upbeat
This Week:
The median list price this week in Redmond is $824,950 is unchanged from January 19th $824,950. Demand measured by the Market Action Index (MAI see chart below) is increasing and days-on-market is trending downward. Even as properties come available, these are positive trends for the market.
Supply and Demand
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Price
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Localized real estate market reports are great for getting a “feel” of what that specific market is doing. For a more accurate pricing on residential property a COMPETITIVE MARKET ANALYSIS (CMA) needs to be done comparing your home with current sales.
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