What to Expect From the Redmond, WA Housing Market in 2026

For anyone buying a home in Redmond, WA, the median sale price right now is approximately $1,262,500 - down 2.7% from this time last year. That's not a collapse; it's a cooling. And if you've been watching this market for the past few years, you know how different that feels from the days when anything decent was gone in a weekend with a dozen offers behind it.

Redmond is still one of the pricier markets in King County. That hasn't changed. What's changed is the pace, and for buyers, that shift matters.

Market Overview and Current Conditions

There are roughly 164 active homes for sale in the Redmond area right now, which works out to about three months of supply. That's a meaningful jump from the extreme inventory shortages of recent years, and it's pushing the market closer to balanced territory - though that doesn't mean every pocket of the city behaves the same way.

Properties are sitting on the market for a median of 24 days before going under contract. Sellers are averaging a 97.9% sale-to-list ratio, meaning most homes are closing just slightly below their asking price. Only about 13% of recent sales closed above list.

Three months of supply is generally where buyers and sellers are on roughly equal footing. You'll still find pockets of Redmond where sellers hold more leverage - but across the city as a whole, buyers have more room to breathe than they did when inventory was razor-thin. You can actually schedule an inspection now. You don't have to write an offer the same night you tour a house.

For sellers, the 24-day median is the number to pay attention to. Homes that are priced accurately from day one are moving. Homes that come in too high are sitting, and the longer they sit, the harder the conversation gets.

How Redmond Sits Against the Broader Eastside

Redmond consistently carries higher median values than most of the surrounding King County suburbs. The 2.7% year-over-year dip mirrors a broader regional cooling pattern - this isn't something isolated to one city. Buyers shopping the Eastside are regularly comparing Redmond against Bellevue and Kirkland, and that comparison shapes how competitive this market actually is.

Median and Average Home Prices

The median sale price sits at $1,262,500 as of mid-2026. That's your most reliable midpoint for what buyers are actually paying. Zillow's Home Value Index puts the average home value around $1,364,000 - that figure runs higher because luxury sales pull the average up. If you're looking for an entry-level single-family home or a townhouse, you'll generally be looking closer to or somewhat below the median.

Price per square foot for residential property in Redmond is running around $646. That number is useful when you're trying to compare homes with very different lot sizes or floor plans - it cuts through a lot of noise. Just keep in mind that condos often carry a different per-square-foot figure than detached homes, given shared amenities and smaller footprints overall.

The 98052 Zip Code

A large portion of Redmond falls within the 98052 zip code, and it consistently draws strong demand. Well-priced homes here tend to move faster than the citywide 24-day median. If you're targeting 98052, check new listings daily - the well-positioned ones don't linger.

Recent Inventory and Sales Trends

Fifty-four homes closed in the most recent 30-day tracking period. That sales volume, combined with 164 active listings, is what produces the roughly three months of supply figure. The year-over-year price drop of 2.7% is a direct reflection of that inventory shift - sellers have adjusted their expectations, which is why you're seeing that 97.9% sale-to-list ratio rather than the over-ask numbers that defined earlier years.

The practical effect for buyers is real: standard inspection periods and financing contingencies are back in play. You're not being asked to waive everything just to get a seat at the table. That's a significant change from where this market was.

For sellers, "patience and a solid marketing plan" isn't just filler advice right now - it's the reality. Homes that drift past the 30-day mark are the ones that tend to need a price correction to generate fresh attention.

Affordability and Cost of Living

A $1.26 million purchase price requires a substantial down payment and a household income well into the multiple six figures to qualify for favorable loan terms. Lenders generally recommend keeping housing costs below 28% of gross monthly income - at this price point, that math is straightforward and sobering for most buyers.

Property taxes in King County add to the monthly carrying costs beyond the mortgage itself. If you're buying a condo or a home in a planned community, factor in HOA dues as well - those monthly fees are part of what lenders look at when calculating your debt-to-income ratio. Daily living expenses - utilities, groceries, transportation - run at rates typical for a major Pacific Northwest tech hub. None of that is surprising if you already live here, but it's worth building into the full picture if you're relocating.

Practical Advice for Buyers and Sellers

With only 13% of homes selling above list price, the automatic bidding war assumption is off the table in most of Redmond right now. If you're a buyer, you have room to negotiate - on price, on closing costs, on terms. Use it.

If you're a seller, pull comps from the last 30 to 60 days - not from last year. The market has moved, and pricing to where things were in 2024 or early 2025 is the fastest way to sit on the market longer than you want to.

The 3-3-3 Rule

A lot of buyers use the 3-3-3 rule as a framework: save 3% of the purchase price for closing costs, keep three months of mortgage payments in reserve, and tour at least three distinct neighborhoods before committing. At Redmond's price levels, that cash reserve piece is particularly important - unexpected maintenance costs in the first year of ownership can hit hard if you've put every dollar into the down payment and closing.

Frequently Asked Questions

Are home prices in Redmond, WA currently rising or cooling down?

Cooling, modestly. The median sale price is around $1.26 million, which is a 2.7% decrease from the same time last year. It's not a dramatic drop - more of a normalization after years of sharp appreciation.

How common are bidding wars and waived contingencies in the Redmond market right now?

Much less common than they were. With about 13% of homes selling above asking price and a median of 24 days on market, buyers are generally in a position to keep standard contingencies in place. The days of waiving everything to compete are not the default right now.

Which Redmond neighborhoods typically offer the best resale value for single-family homes?

Proximity to major employment centers matters most. Homes in the 98052 zip code consistently show strong demand and steady resale value because of their location near major corporate campuses.

How does the cost of buying a house in Redmond compare to neighboring Bellevue or Kirkland?

Redmond is generally comparable to Kirkland and tends to come in slightly below the highest-end neighborhoods in Bellevue. All three Eastside cities command premium prices relative to the broader Washington state average.

Are there still affordable condo or townhome options for first-time buyers in Redmond?

Yes. Attached properties - condos and townhomes - offer a lower entry point than detached single-family homes, with options priced well below the city's $1.26 million median sale price.

How quickly are homes going pending after being listed in the current Redmond market?

The current median time on market is roughly 24 days from the initial listing date to an accepted contract. That's a moderate pace - not the frenzied weekend turnarounds of a few years ago, but not slow either.