Redmond Home Prices Rise 14% As Total Sales Jump 25% YOY

By
Real Estate Agent with SeattleHome.com -Coldwell Banker Danforth

Home sales in Redmond continue a strong climb as we head into the usually slower winter months.  Total sales, pending sales, and median home prices are all outpacing last year's numbers by significant margins.

Redmond Residential Home Sales Totals, Median Home Prices

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The median home price for residential sales (single family homes) in October was $627,500.  That's 14.1 percent higher than it was during October of 2012, when Redmond's median sat at $550,000.  This October also posted a 2.1 percent gain over September's home prices.

Total sales in Redmond were also up a healthy margin.  109 single family homes were sold in Redmond in October, a 6.9 percent gain compared to September's sales of 102 homes.  Even more strikingly, the year-over-year sales trend shows a 25.3 percent increase in home purchases.  Just 87 homes were sold in Redmond in the same month, one year ago.

Redmond's real estate market, for now, seem to be stronger than the traditional seasonal real estate cycle.  While home sales will inevitably fall as we hit December and January, the strength of the market is clear and 2014 looks likely to continue the upward trend.

 

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© SeattleHome.com: - Sam DeBord, Managing Broker, Realtor

State Director, Washington Association of Realtors
Coldwell Banker Seattle: Coldwell Banker Danforth & Associates
Twitter | Facebook | LinkedIn | Google + | Sam (at) SeattleHome.com

Source:  NWMLS Stats - The Northwest Multiple Listing Service did not compile or publish this information.

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