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Redmond & Carnation Market Report

The Redmond/Carnation area famously includes the Microsoft campus, but also remarkable communities such as Blakely Woods, Education Hill, Hunter’s Glen, and Redmond Ridge. The Bear Creek School and Overlake School, both SEVP private schools certified to admit foreign students, are just northeast of Redmond city limits. From 2010 through 2015, the population of Redmond is estimated to have grown by 9.3 percent. During these years, the proportion of SFRs to the total housing stock edged downward from 49.4 percent to 48.1 percent.

RedmondCarnationCapture

The area has been a strong seller’s market for the past 24 months. Except for brief respites early each year, supply has trended steadily lower. The average duration of inventory was 45 days in 2015, 58 days in 2014, and 60 days in 2013. Prices in the Redmond/Carnation area did not advance as consistently as those in the rest of King County. In 2015, this area did not see the level or frequency of competitive bidding for properties that other areas in the county witnessed. Although the annual median sale price was 28.7 percent higher than the countywide median, the year-over-year increase was the slowest observed, at 2.1 percent.

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