Redmond’s Microsoft real estate market remains strong
The median list price this week in Redmond is $775,000 is up slightly from last week’s. $744,900. Inventory is up and the Market Action Index (MAI see chart below) is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.
SUPPLY AND DEMAND
Home sales continue t outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Prices in the Microsoft area of Redmond seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels. 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 sal