Many Redmond moves are driven by change: a new job or team, a growing household, a move closer to light rail, or selling a townhome to buy a detached house on Education Hill. Very few of these homeowners can or want to buy without using the equity in the home they already own. Coordinating the two sales is the challenge this page covers.
I’m Aaron Yoon, a broker with eXp Realty. I help homeowners across the greater Seattle area sell for top dollar by solving the problems others walk away from. Redmond has a few things many nearby cities don’t: a large share of newer construction, a lot of buyers relocating for work, and new light rail stations changing demand in certain areas. For the complete process, read my guide to buying and selling at the same time, and see the FAQ for quick answers.
The Redmond Market Snapshot
In Redmond, the property type matters a lot. Townhomes and condos near Downtown Redmond and Overlake compete with each other, and with a steady supply of new builds. Detached homes on Education Hill, in Grass Lawn or in North Redmond draw a different buyer. Check the data for your segment:
- Median sale price: [LOCAL STAT: median sale price, Redmond, source NWMLS]
- Median days on market: [LOCAL STAT: median days on market, Redmond, source NWMLS]
- Months of supply: [LOCAL STAT: months of supply, Redmond, source NWMLS]
- Sale-to-list price ratio: [LOCAL STAT: percent of list price received, Redmond, source NWMLS]
- Townhome/condo vs. detached days on market: [LOCAL STAT: days on market by property type, Redmond, source NWMLS]
If you’re selling a townhome, find out how many similar units are listed or about to be delivered nearby. That competition affects your price and how long the sale is likely to take, which in turn affects how much time you should allow before closing on your next home.
How to Buy and Sell at the Same Time in Redmond
If you’re buying new construction
New construction is common in Redmond. Builders’ contracts are different from resale contracts. Completion dates can move, and builder contracts may limit contingencies. If the new home won’t be finished for a while, you may be able to list your current home closer to the expected completion date, but you should plan for delays. A rent-back on your sale, or a short-term rental as backup, can protect you if the builder’s date slips.
If you’re buying a resale home
For resale purchases, the three standard approaches apply:
- Sell first, then buy. You get a firm sale price and can make a clean offer. A rent-back (NWMLS Form 65B) can give you time to find and close on your next home.
- Buy first, then sell. Bridge loans, HELOCs and buy-before-you-sell programs can let you make an offer without a sale contingency. Their costs and approval rules differ by lender and change over time. Talk to lenders directly before deciding.
- Contingent offer. A sale contingency under NWMLS Form 22B is more competitive when your home is already listed or under contract.
Equity and down-payment timing
Some Redmond buyers plan to use money from sources other than home equity, such as savings or employer equity compensation, toward the purchase. When that money becomes available can affect the plan. If this applies to you, talk to your financial or tax advisor about timing before we set dates. I coordinate the real estate schedule and they advise on the money.
Relocation packages
If an employer is paying for your move, the relocation package may include specific rules, timelines or approved vendors for selling your home. Read those terms before you list so your sale doesn’t conflict with the benefit.
Redmond Neighborhoods
- Downtown Redmond: Condos, apartments and townhomes near Redmond Town Center, the Redmond Central Connector trail and the Downtown Redmond light rail station.
- Overlake: Around Microsoft’s main campus and the Redmond Technology station, with significant new mixed-use development.
- Education Hill: Established single-family neighborhoods north of downtown, with parks and trails.
- Grass Lawn and Idylwood: Near Grass Lawn Park and Idylwood Park on Lake Sammamish, a mix of single-family homes, townhomes and condos.
- North Redmond: Many newer single-family subdivisions and townhome communities.
- Bear Creek and Sammamish Valley: More spread out, with some larger lots and a more rural feel toward Woodinville.
- Willows/Rose Hill: On the western edge near the Kirkland border, close to Willows Road businesses and SR 520.
Schools
Redmond is served by the Lake Washington School District. Some homes near the city’s edges have different assignments, so confirm with the district for each address. For ratings and data, see OSPI and GreatSchools.
Commute and Lifestyle
SR 520 connects Redmond to Bellevue and Seattle, and I-405 is a short drive west. Sound Transit’s 2 Line light rail serves Redmond at Overlake Village, Redmond Technology, Marymoor Village and Downtown Redmond stations. Check soundtransit.org for current routes and schedules. Microsoft’s campus in Overlake is one of the region’s largest employment centers, and many other technology companies have offices nearby.
Redmond calls itself the “Bicycle Capital of the Northwest.” The Sammamish River Trail, the Redmond Central Connector and Marymoor Park, a large King County park with a velodrome, off-leash dog area and summer concerts, are local favorites. Redmond Town Center and Downtown Park anchor the city center, and the annual Derby Days festival is a long-running community event.
Redmond FAQ
The builder’s completion date keeps moving. When should I list my current home?
Usually closer to a confirmed completion date than to the date first estimated. We can prepare your home in advance so it can go live quickly, and negotiate a rent-back to cover any gap if the builder runs late.
Will buyers prefer a new townhome over my five-year-old one?
Some will. Your advantages are often price, finished landscaping, window coverings and a real move-in date. We price and market your home around those strengths.
Is it worth paying for a bridge loan or buy-before-you-sell program?
It depends on how competitive your target home is and on the total cost. Get written estimates from lenders or program providers, compare them with a sell-first plan, and then decide.
I might be relocating within a year. Should I wait?
If your plans aren’t firm yet, preparing your home now and deciding later can help. That way, if you do decide to move, you’re ready to list quickly.
Can you guarantee my home sells before I close on the next one?
No one can honestly guarantee that. What I can do is build a plan with backups, such as a rent-back, contingency language or financing options, so a delay doesn’t turn into a crisis.
Ready to plan your move in Redmond?
Every move is different. Book a call with Aaron to talk through your timing, equity and options, or get a no-obligation estimate of what your current home could sell for. No pressure, just a plan.
Aaron Yoon, Broker, eXp Realty. Market figures are sourced from NWMLS where noted. Financing information is general and not a loan offer; talk to a licensed lender about your options.
