Redmond 98052 January 2020 Market Update: Homes
If you haven't heard, the market in Redmond, particularly in the 98052 market is hot. We don't have a lot of inventory, but the inventory we have that is priced well is moving off the shelf.
The Market Action Index is at 64. Anything above a 30 is technically a Seller's Market. The closer you get to 100 is COMPLETELY a Seller's Market. When we were in our crazy, crazy seller market years, we were approaching the 80s on this graph.
Historically, the Market Action Index moves throughout the year. It tends to be on the lower end at the beginning of the year and increases through Spring and Summer, and then starts to recede in the Fall and Winter months.
I always say that our buying and selling season rise and set with the sun. We have our highest sales months in May and June year after year.
Beyond the 98052 market, I'm seeing similar areas of markets where people are putting in multiple offers. However, if you go one zip code over in 98053 the homes are sitting a little longer and the action index is lower at 46.
If you have any questions about the market, I love to chat stats. Contact me at firstname.lastname@example.org or 425-559-133.