Redmond Market Update
Altos graph February 23, 2026
February 23, 2026
Here's what I've been noticing in the Redmond market lately.
The median list price is now sitting at $620,000, down slightly from last week. Prices overall have remained fairly level for several weeks now rather than trending upward or downward in any dramatic way.
The Market Action Index has eased to 35, compared to 37 last month. We are still technically in a slight seller's advantage, but the consistent downward drift in MAI reflects a gradual cooling rather than acceleration.
Inventory has increased to 139 homes, giving buyers a bit more to consider than earlier in the year. It's not high inventory by historical standards, but it is enough to slow decision making.
Median days on market remains at 63 days, with the average just over 100 days. That tells us homes are selling, but buyers are taking their time and comparing options carefully.
About 37 percent of listings have reduced price, while only 1 percent have increased. That's a signal worth paying attention to. Sellers are adjusting to current demand rather than testing extremes.
Price per square foot is holding around $339. Median rent is approximately $2,295, which continues to influence investor calculations and long-term holding strategies.
What this suggests
We're in a steady phase.
Prices have plateaued. Activity is present, but not urgent. Inventory is not excessive, yet buyers are selective. In this kind of market, condition and positioning matter more than timing headlines.
If the Market Action Index begins to climb consistently, we would likely see prices follow. If it continues to soften toward buyer territory, pricing discipline will become even more important.
For now, we're in the middle.
For homeowners thinking 6 to 24 months ahead
If you plan to sell within the next year or two, this is a useful time to quietly evaluate.
Not to rush. Not to react. Just to understand.
Watch your specific neighborhood rather than citywide medians. Pay attention to how homes similar to yours are performing. Notice which listings adjust price quickly and which move without reduction.
If you're considering improvements before selling, focus on maintenance, presentation, and clarity rather than major renovations. In steady markets, buyers respond to homes that feel well cared for and appropriately priced.
There's no urgency in this message. Just awareness.
If you prefer listening instead of reading, I cover the same Redmond market updates in short 5 to 8 minute videos on YouTube. It’s the same data, just explained in a little more depth.
You’re welcome to follow along there as well.
If you'd like a look at your particular neighborhood trends or want to understand how your home fits into current absorption patterns, I'm always happy to run those numbers with you.
