Average Cost of a Home in Redmond, WA: 2026 Prices by Property Type

by Ranjani Ravi

The median home price in Redmond, WA currently sits at $1,194,406.

Key takeaway

Redmond's citywide median for the 90 days ending September 30, 2026 blends detached houses well above it with condos far below it, so set your budget by home type, not by the headline. If you want a lower entry price and room to negotiate, start with condos and townhouses, where homes sit longer and rarely sell over asking. If you need a detached house, expect less give, because single-family prices have barely moved.

Who this guide is for

You're setting a budget for a Redmond purchase and deciding whether a detached house, a townhouse, or a condo fits what you can spend.

Current average cost of a home in Redmond, WA

Redfin data for the 90 days ending September 30, 2026 shows the citywide median down 8.1% year over year, while single-family prices fell only 2.4%. That headline drop comes mostly from the condo segment and the mix of homes sold, not a broad market decline. The blended median says little about what a house will cost you.

Median vs. average home price

Listing sites and agents use the median, the middle sale in a period, rather than the mean, which a handful of luxury sales can pull high. Even a median hides a wide spread, from condos in the $400,000s to houses over $1.5 million.

Why the Redmond median fell

Condo prices fell 32.1% year over year, and more of these cheaper units entered the sales mix, pulling the blended figure down. That condo drop rests on just 32 sales, and a shift toward smaller or older units can swing a median that much. Read it as softness in the condo segment rather than every condo losing a third of its value.

How Redmond compares to King County

The Northwest MLS reported a median sales price of $850,000 for residential homes and condominiums across King County in September 2026. That is a single-month figure from a different source than Redmond's 90-day median, so compare the direction and rough gap rather than exact dollars.

Redmond home prices by property type

Attached homes cost far less to buy than detached houses, but they come with HOA dues and different ownership structures.

Single-family homes

The detached-house tier sets Redmond's reputation, with a median sale price of $1,541,885. Sellers still have the advantage here: about one in nine Redmond houses sold for more than the asking price. Budget near asking and arrive fully pre-approved, because this tier leaves little room to negotiate and little cushion in your budget.

Townhouses

Townhouses offer more space than a condo at a much lower price than a detached house, with a median sale price of $875,010. None of the townhouses sold in the quarter went over asking. That lets you ask for concessions or repairs, though you shouldn't expect a big price cut. The catch is that these figures rest on just 19 sales and can swing quarter to quarter, and most townhouses carry HOA dues that add to the monthly cost.

Condos

A median Redmond condo costs about a quarter of a median house, at $406,958. Units sit for a median of 81 days on the market, which gives you time for due diligence and room to negotiate on price or terms. Slow sales cut both ways, though. If you need to sell in a few years, you may wait a while, and HOA dues, reserves and FHA approval vary building to building.

Price per square foot by home type

Single-family homes cost $674 per square foot, townhouses $556 and condos $428, so condo space costs about $246 less per square foot than house space. At those rates, 1,500 square feet runs about $1,011,000 as a detached house, $834,000 as a townhouse and $642,000 as a condo. The metric ignores lot size and HOA dues, so a cheap per-foot condo can cost more per month than its price suggests.

Where buyers have negotiating room

Days on market by home type

Houses and townhouses sell in about a month, with median days on market of 28 and 29. Condos take nearly three times as long. House buyers need to decide fast, while condo buyers can take time for thorough inspections and HOA reviews. A listing that has sat a long time may be overpriced or have a hidden problem, so ask for its price-change history before treating time on market as bargaining power.

Sale-to-list ratio and offers over asking

Across all homes, sales close about 2% to 3% under asking. Single-family homes closed at 97.8% of list price, condos at 96.7% and townhouses at 96.6%, and a condo almost never draws a bidding war. These are medians, so a well-priced home in good condition can still draw multiple offers. Base your offer on recent comparable sales, not the citywide ratio.

Months of supply and market balance

Months of supply measures how long current inventory would take to sell at the current sales pace. Houses are tight at 3.1 months and condos more balanced at 4.5. Townhouses carry the most at 6.7, more than twice the house figure, which gives attached-home buyers room to negotiate terms and contingencies.

Homes for sale right now

Redmond has 185 homes for sale: 95 single-family homes, 46 condos and 43 townhouses. With fewer than 50 condos or townhouses listed, your realistic shortlist is short, so set alerts early. Counts change weekly, so check current listings before assuming choice is plentiful.

How to narrow your Redmond home search

If you need a detached house, read "Single-family homes" and "Sale-to-list ratio and offers over asking," and plan to pay close to asking. If shared walls work, compare "Townhouses" and "Condos" side by side. If your budget is under about $500,000, start with "Condos," then the FHA and salary questions in the FAQs below. If you need negotiating room, "Days on market by home type" and "Months of supply and market balance" show where sellers are giving ground. If you want to live near light rail, focus on "Downtown Redmond," "Overlake" and "Southeast Redmond." If schools factor into your choice, confirm school assignment with the Lake Washington School District boundary lookup and review our schools guide.

Where to look in Redmond by home type

Condos and townhouses cluster near commercial centers and the new light rail stations, while detached houses dominate the outer neighborhoods. Prices vary between areas more than citywide medians show, so check the most expensive areas in Redmond before setting a budget for a specific neighborhood.

Downtown Redmond

Downtown Redmond is the best fit for a condo budget if you want walkability and transit access. It has its own station on the 2 Line light rail extension, which opened on May 10, 2025. Condo choices vary widely by building age and HOA health, so review each building's dues and reserves before comparing prices.

Overlake

Overlake is a mixed-use growth area and a reasonable place to look for condos and townhouses. The City of Redmond's Comprehensive Plan designates it an Urban/Metro Center, with the Overlake Village light rail station alongside SR 520. Ongoing construction and new supply can compete with resale units, so factor that in if a quieter environment matters to you.

Southeast Redmond

Southeast Redmond sits beside Marymoor Park, a 640-acre county park that draws more than 3 million visitors annually, and is served by the Marymoor Village light rail station on the 2 Line. Housing stock is very mixed, so ask for comparable sales by home type rather than relying on an area-wide figure.

North Redmond

North Redmond is a predominantly residential area covered by the City's neighborhood plan. It suits buyers whose budget is set by the single-family tier and who want a traditional suburban setting. You're shopping in the tightest segment of the market, so expect close-to-asking prices on the best-kept homes.

Redmond Ridge

Redmond Ridge is a master-planned community outside city limits in unincorporated King County. It suits buyers who want a detached house in a setting governed by the Redmond Ridge Residential Owners Association, which maintains common areas. Because it's unincorporated, services and tax levies differ from in-city addresses. Check the parcel's tax and the association's current dues before comparing it with in-city homes.

Idylwood

Idylwood is a detached-house area near Lake Sammamish. Idylwood Park has a swimming beach and is the only free recreational access point on the lake. Lake proximity tends to price homes at the top of the single-family range, so pull recent comps before setting a budget.

What it costs to buy and own a Redmond home

Down payment at Redmond's median prices

Putting 20% down on the single-family median requires about $308,377. The same share is roughly $175,002 for the townhouse median and about $81,392 for the condo median. Many loans allow less down, but buying a home in Redmond with a smaller down payment usually adds mortgage insurance and a higher monthly payment.

Monthly payment example

Freddie Mac's final September 2026 reading put the 30-year fixed-rate mortgage at 7.03%. At that rate and that down payment, principal and interest come to about $8,220 a month on the median house and roughly $2,170 on the median condo, before taxes and insurance. Your rate depends on your credit, loan type and loan size, so get a Loan Estimate before relying on this math.

Property taxes

According to the King County Assessor, the City of Redmond's levy rate for the 2026 tax year is 8.39862 per $1,000 of assessed value. That works out to about $12,598 a year on a home assessed at $1,500,000. Tax is based on assessed value, not your purchase price, so look up the parcel on the King County Assessor site before running numbers.

HOA dues on condos and townhouses

Most attached homes in Redmond carry monthly HOA dues covering exterior maintenance and shared amenities. Ask the HOA for current dues, what they cover, the latest reserve study and any planned special assessments. High dues can erase a condo's price advantage over a house. A low-dues building with thin reserves can also hand owners a large special assessment when a roof or elevator needs replacing.

Buyer closing costs

Budget for closing costs such as lender fees, title insurance, escrow fees and prepaid property taxes. Lender and title charges vary, so compare Loan Estimates from at least two lenders. The only reliable number is the one on your own Loan Estimate.

Down payment assistance

Homebuyer programs and first-time buyer programs can help cover down payment and closing costs. Their price and income limits may rule out the single-family tier entirely, so check eligibility before planning a purchase around them.

Redmond housing market outlook

What could move prices next

The main drivers to watch in the Redmond housing market are mortgage rates, new transit-area supply, and whether the current condo softness spreads into townhouses. A falling condo median can keep falling, so buy based on what the monthly payment means for your budget, not on a predicted rebound.

Timing your purchase

House buyers gain little by waiting, since single-family prices have barely fallen. Condo and townhouse buyers can use today's slack to negotiate terms and contingencies, and months of supply will show whether that room holds. Waiting for a lower purchase price can cost you more overall if mortgage rates rise in the meantime.

If you're selling

Sellers of condos and townhouses should price to the slower pace of the current market, while house sellers still enjoy a relatively tight environment. We can walk you through this on our property valuation, pricing strategies, and time-to-sell pages. Factor Washington's real estate excise tax into your seller closing costs. Pricing to last spring's comparable sales in a segment that just fell is the fastest way to join the homes that sit unsold.

At a glance

All homes: median sale price $1,194,406, down 8.1% year over year (90 days ending Sept 30, 2026; 144 sales)
All homes: 36 median days on market, 97.4% sale-to-list, 7.8% sold above list (90 days ending Sept 30, 2026)
All homes: 3.9 months of supply, 185 homes for sale, $605 median price per sq ft (90 days ending Sept 30, 2026)
Single-family homes: median sale price $1,541,885, down 2.4% year over year (90 days ending Sept 30, 2026; 93 sales)
Single-family homes: 28 median days on market, 97.8% sale-to-list, 10.9% sold above list (90 days ending Sept 30, 2026)
Single-family homes: 3.1 months of supply, 95 for sale, $674 median price per sq ft (90 days ending Sept 30, 2026)
Townhouses: median sale price $875,010, down 4.1% year over year (90 days ending Sept 30, 2026; based on only 19 sales, so treat with caution)
Townhouses: 29 median days on market, 96.6% sale-to-list, 0% sold above list (90 days ending Sept 30, 2026; 19 sales)
Townhouses: 6.7 months of supply, 43 for sale, $556 median price per sq ft (90 days ending Sept 30, 2026; 19 sales)
Condos: median sale price $406,958, down 32.1% year over year (90 days ending Sept 30, 2026; based on 32 sales)
Condos: 81 median days on market, 96.7% sale-to-list, 3.2% sold above list (90 days ending Sept 30, 2026; 32 sales)
Condos: 4.5 months of supply, 46 for sale, $428 median price per sq ft (90 days ending Sept 30, 2026; 32 sales)

Redmond home price FAQs

How does the average home price in Redmond compare to Washington state?

Redmond's citywide median is roughly two to three times the state median. Check the Washington Center for Real Estate Research for the current state figure.

What is the cost of living in Redmond, Washington?

Housing is the biggest driver of the cost of living in Redmond, and a single-family house costs nearly four times as much as a condo.

How much do you have to make to afford a $500,000 home in Redmond?

That budget sits just above the Redmond condo median. At September 2026's average rate and Fannie Mae's 50% maximum debt-to-income ratio for automated underwriting, you'd need roughly $80,000 to $90,000 in annual income, depending on your down payment. HOA dues count toward that ratio, so ask the association for current figures.

What salary do you need for a $1,000,000 house in Redmond?

A $1,000,000 home is below the single-family median but above the townhouse median. With 20% down, September 2026's average rate and Redmond's 2026 levy rate, you'd generally need household income well over $160,000 to stay comfortably within Fannie Mae's 36% to 50% debt-to-income limits.

Do you need a jumbo loan to buy a house in Redmond?

For a detached house, likely yes. The 2026 conforming loan limit for King County is $1,063,750, so the median house requires a jumbo loan unless you put down nearly half a million dollars.

Can you buy a Redmond condo with an FHA loan?

Yes, if the building is FHA-approved and the loan fits the 2026 King County FHA limit, which matches the conforming limit. A 3.5% down payment on the condo median is about $14,244. Check the building on HUD's condominium approval lookup before making an FHA offer.

Do you pay sales tax when you buy a home in Redmond?

No, home purchases aren't subject to retail sales tax. Washington instead charges a real estate excise tax at graduated rates from 1.10% to 3.00% on portions of the price, plus a local portion, customarily paid by the seller.