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Update: 17 Communities of New Homes, Up Two Since March, in Redmond, WA
May 6, 2014 by Khaleelah Jones

Real estate in Redmond is covered by Rob Condiotty, who can be reached at Phone...

Redmond, WA New Home Construction- April 2014

Redmond, WA is King County's second most popular city for new construction based on total market size. Currently there are 61 new homes available across 17 new communities in Redmond. Since March 2014, the last time a Redmond review was done, one new community, Willowmere, has broken ground in the area while approximately the same number of new homes are available. This is a snapshot of the Redmond new construction market as of May 6, 2014. For the most up to date information, visit the Redmond new construction page, which is updated daily.

Projects and New Home Prices in Redmond

Home prices in Redmond range from the high $200k price point to over $1m. Cascara at Redmond Ridge East, a community with four active listings, is the most inexpensive community, with 2-bedroom homes beginning at $283,014. Many homes in the community are duplexes. Single family homes at a higher price point can be found at the Retreat, a community with four active listings, 10 less than in March 2014. Home prices at the Retreat currently start in the mid-$500k range. Another community with moderate prices compared to other Redmond communities is Kempin Meadows, which has three active listings for homes starting in the mid-$500k range. Homes in Parkridge at the Woodlands, which has eight active listings, and the Rise, which has four active listings, are priced much higher, beginning in the high $700s.

Active, new single family homes have an average listing price of $833,213 for a 3,079 square foot home, or $271 per square foot. Over the last six months, the actual sales price for a new single family home has averaged $730,691 for a 2,877 square foot home, or $254 per square foot.

Active Builders in Redmond

Some of Western Washington's most active builders are building communities in Redmond, including Toll Brothers/Camwest; the builder is building at Parkridge at the Woodlands.

List of Home Builders (Active Listings)

Toll Brothers Camwest (23)

Murray Franklyn (11)

Polygon Northwest (4)

Natural and Built Environments (4)

Element Residential (4)

Belmark Homes (3)

Sapphire Homes (2)

Shea Homes (2)

Pulte Homes (1)

Lexington Fine Homes (1)

Redmond Housing Supply and Demand

There are currently 2.2 months of residential housing supply in Redmond which indicates a seller's market. There are a variety of methods for calculating months of housing supply. We calculate it by taking the average number of homes and condos sold per month over the trailing 6 months (102.3) and dividing that into the number of houses & condos currently for sale (224).

 

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