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ARDELL's Seattle Area Real Estate Blog

Nov. 8, 2012 - Home Prices in Redmond Washington

(UPDATE 11/10/12 - Added a few details over on Rain City Guide using the same data.)

Putting together some graphs showing median home prices in Redmond WA by Elementary School and then breaking that down further to Price Per Square Foot. Home prices are not changing by as much as some of the news sound bites would have you believe.

But before looking for a home to buy in Redmond Washington attached to a specific Elementary School, it's a good idea to study the median home prices associated with each. These large home price differences have more to do with the type of homes that exist within the boundaries of each school, vs anything to do with the schools, for the most part.

I am pushing the charts to being at the lowest price and to the highest price vs from zero, not to make the price differences look more dramatic, but to make the numbers more readable vs showing up one on top of another. This even more important in the below graph given the variance of price per square foot is even flatter than home prices. 

There has been a lot of speculation lately that low volume is skewing the numbers, but these numbers are cumulative so that "3 years" means the median of 3 years running and not merely "3 years ago" so the first number includes all of the houses up to present. This makes for a pretty accurate "trend line" which is pretty darned flat for 3 years running.

It may not appear that way when you are looking for a home as good homes priced well sell very quickly. But part of that quickly is merely that agents and sellers are much better at pricing now than they were 3 years ago.

The flattish market for that long of a period of time has created better and more comps to pinpoint accuracy closer now than 4 years ago or 3 years ago.

Running numbers for some schools in Kirkland and a few in Bellevue to see if there is an overall trend over that broad territory or if it is all just up or down within 3% or so. At the end we'll tie it all together.

********

Required Disclosure: Stats in this post and graphs are not compiled, verified or published by The Northwest Multiple Listing Service.

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ARDELL DellaLoggia of Sound Realty on Seattle Real Estate process and market including Kirkland, Bellevue, Redmond, Green Lake and most areas around the top of Lake Washington North of Downtown Seattle. Phone: 206-910-1000 - Mailto:ARDELLd@gmail.com

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