Are Redmond Home Sales in Transition?
The July 2017 trends for Redmond single family homes appear to reflect a changing market. While the average sales price continues to rise, less inventory is now on the market. While closed sales are up significantly over a year ago, new pended sales are down. The asking price for a home appears to be leveling off, but the average sold price is up considerably over a year ago.
The data for July Redmond home sales are well shown in the following chart:
Comparing July 2016 with July 2017:
- The number of homes for sale are up 2.8%
- The number of homes sold are up 15.6%
- The number of homes pended are down 4.5%
When the same quarters are compared 2016 and 2017:
- The number of homes for sale are