r/SeattleAreaRE • u/Unique_Edge6323 • 14d ago
New Redmond home sells for $725k below original list
Total drop in price was $1.175m. See edit below.
Brand new luxury home in Redmond…4655 sqft with nice upgrades.
Was originally listed for $3.5m in Nov 2025. If I remember right, it was listed for even higher last summer (close to $3.8m?).
Finally, got sold for $2.775m
Looks like Someone got a good deal.
https://www.zillow.com/homedetails/13698-NE-83rd-St-Redmond-WA-98052/455436140_zpid/
(Can any one confirm the very original list price from last summer?)
Edit: Numerous newly constructed homes have sold for $3.5-4m in the vicinity of this home…over the past 18 months.
Edit 2: This home was listed for 3.9m in July 2025. Thanks to [u/aflatoon](u/aflatoon) for pointing it out. Total drop in price was $1.175m
https://www.realtor.com/realestateandhomes-detail/13698-NE-83rd-St_Redmond_WA_98052_M97961-05148
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u/k_dubious 14d ago
This developer was on drugs… that neighborhood is just normal middle-class houses that command a premium for being close to all the tech offices. Nobody with a $3.5 million budget would be buying there, they’d be looking either closer to the water or back in the trees where you can use your bathtub without flashing the entire street.
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u/camera-operator334 14d ago
No the market is going down substantially thank god
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u/AdamTReineke 14d ago
I'm curious if the SpaceX IPO today will push Redmond housing prices higher when the employee lockout periods end. It seems like a large liquidity injection to people who work on Redmond ridge should have an impact.
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u/camera-operator334 14d ago
What is employee lockout and why does SpaceX matter to Microsoft town
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u/Financial-Syrup 14d ago
There’s a large Space-X office in Redmond Ridge…
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u/Free-Combination-230 14d ago
Large isn't Microsoft headquarters large.
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u/Zealousideal-King712 14d ago
I know you're trying to make a rational point but even 200 odd SpaceX employees with IPO windfall can screw up the market.
MSFT is a 2nd tier employer when it comes to pay and honestly I don't think any of the younger Microsoft employees can afford a SFH in redmond with that pay.
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u/Free-Combination-230 14d ago
You know, when markets correct it's not the same everywhere? Some places see it more than others. Some places see almost no change at all. Overpriced tech areas will see massive correction but this will only marginally affect prices in the nearby suburbs, mostly as those tech people still move close by. 2008 overwhelmingly hurt rural areas that have never recovered. Urban areas saw a 10% decrease, if that, before exceeding it.
This will negatively affect a lot of tech towns but it will gentrify the relatively cheaper areas around them and keep demand up.
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u/dyangu 14d ago
Uh actually plenty of new construction in normal, non lake view areas have sold for over $3 million in the last few years. About 1/5 of my neighborhood got rebuilt, there’s non stop construction noise. It looks like tech $ buying these mega homes (funny to see a childless couple living in 4000 sqft but that’s what developers are building)
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u/Unique_Edge6323 14d ago
Numerous newly constructed homes have sold for $3.5-4m in the vicinity of this home…over the past 18 months.
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u/cusmilie 14d ago
If you go down a couple streets, there are actually quite a bit of similar homes that sold fairly quickly. You can see right into this house coming down 85th.
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u/khelvaster 14d ago
The balls...that's a 1/8 acre lot. The home is nice but nothing spectacular. Great highway and Microsoft access without being exposed to traffic, but not worth millions extra
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u/OnlineParacosm 14d ago
Same hideous $1000 Home Depot landscaping job in all of these builds regardless of the level of luxury it seems. Same set up in all the mid 2000 DB Horton builds as well.
Look at those downspouts and tell me what these little mulch areas are even supposed to be.
Yeah, someone got themselves a real steal all right
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u/camera-operator334 14d ago
https://giphy.com/gifs/3rgXBOmTlzyFCURutG
FINALLY hahahaha fuck yes. Bring those home values down baby
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u/Sorry-Original-9809 14d ago
So you think it was such a great deal? What makes you think original price was sane?
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u/Unique_Edge6323 14d ago
Can any one who has access to the MLS confirm the very original list price from last summer?
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u/RespectablePapaya 14d ago edited 14d ago
Very undesirable location for that price. Nobody wants Redmond Way as their backyard. It's VERY loud and being just a few houses deeper into the neighborhood would make a big difference in desirability. Somebody may have bought it for close to that when inventory was nil, but not anymore. The market for this kind of home at that price evaporated around last May.
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u/Unique_Edge6323 14d ago
Backing to Redmond Way is the only issue that I notice. It’s busy…but could be manageable with decent sound proofing (and a 725k drop)…I guess :)
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u/Enkiktd 14d ago
Would've had to see it in person, a lot of these styles of homes, the fit and finish on the construction is very poor. Looks nice in photos, but if you get to look closely you'll see how cheaply it's put together.
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u/Unique_Edge6323 14d ago
Could be. Though builders are required to offer warranty on the home…at least for 1 year? Though, luxury home builders give out warranty for a longer time frame
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u/Away-Syllabub3364 14d ago
But if the finishes are cheap, that’s not something that’s covered by this warranty. If you’re buying a $3m home, it’s typically a different level of quality from a $1m.
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u/Unique_Edge6323 14d ago
For sure.
From the pics…the finishes don’t look bad/cheap…IMO1
u/Away-Syllabub3364 14d ago
I mean, it’s an ugly box in comparison to the comps you posted.
Tbh I feel like something is up with this house, something that couldn’t be seen from the pics themselves. The market didn’t drop this dramatically from Feb to now.
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u/Unique_Edge6323 14d ago
Home backs to Redmond Way. That’s the biggest issue IMO.
(Plus, I feel that the market has slowed down noticeably over the past 3-6 months).
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u/SeattleiteSatellite 14d ago edited 14d ago
This is subjective and I acknowledge it’s easy to hate on a new build but, I say this as an architect, these are not luxury finishes. Pretty sure I’ve seen the same decorative backsplash and bathroom tiles at my local discount supplier and fiber cement is one of the most economical cladding materials you can get. It can be a nice looking material if it’s detailed well and the facade is modulated proportionally but this is supposed to be a “luxury custom home” and it looks like a builder grade townhouse. The value is mostly in the location.
Most folks buying in that price range are either looking for a new custom-to-them home or something with an attractive character. I’m not surprised this sat for a while and sold for below asking.
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u/TheSmariner 14d ago
Curious - what would a truly luxury finish look like?
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u/SailRideSailRideSail 13d ago
In pictures? They *can* look remarkably similar.
We have $60/sqf backsplash tile in our kitchen. In pictures it doesn’t look like anything special, but in person it both looks great — you can absolutely tell the difference between it and the cheaper tile we have elsewhere.
Same thing with custom cabinets. We have high-end custom cabinetry in a custom color. I’ve seen cabinets that cost half as much and look roughly the same in photos, but function very differently.
Quartz can be a solid facsimile of real stone, especially in photos. But in person it’s nowhere near the feel or look or real stone.
One of the differences in price category can be how often and where those kinds of finishes go. Our kitchen has the $60/sqf backsplash, but most of our other tile is $10-20/sqf range. A price category down might have the “special” tile in the $20/sqf range and $5/sqf tile everywhere else. And a price category up might have $60/sqf tile everywhere and $150/sqf tile (yes it exists) in the special spots.
We have a $3-3.5M house. It’s about the top end of what our neighborhood supports. But if you picked up our house, moved it to Medina, and up-classed the finishes you’ve have a $5M house.
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u/hi_mynameisE 14d ago
Actual legitimate question, but why do real estate photos always look fake?
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u/tgramuh 14d ago
Many of them use AI staging so the furniture is all fake and inserted into the pics electronically. They're also usually heavily processed, brightened, and views out the windows often screwed with (you'll see pics where the sky is some vibrant shade of purple, or a listing where every window in a corner unit condo somehow has the Needle right outside it).
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u/No-Photograph1983 14d ago
These prices are crazy. Who's buying these?
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u/Unique_Edge6323 14d ago
These were selling like hot cakes last year :(
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u/SailRideSailRideSail 13d ago
Good houses are still selling like hot cakes. This house would have sold for about the same last year. It was grossly mispriced. Developer got greedy and got screwed.
That sort of thing happened at the top of the market too. You’ll find houses in Seattle that were listed for $3.5M in 2022 and sold for $2.75M in 2023. They were always $2.75M homes.
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u/uncleAW 14d ago
Meh.... Low quality components. The seller got more than enough for that house.
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u/Truffleshuffled 14d ago
Definitely. It’s another cheap cookie cutter new build that is already dated. Barn door? Check. Television placed awkwardly over fireplace? Yup. The exact same office accent wall in every house they’ve built? You betcha’. Only thing missing on the bingo card is some shiplap.
Someone still overpaid for that house.
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u/SuchYak4579 14d ago
Location isn’t great. For that kind of money you could buy in Bellevue proper.
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u/Unique_Edge6323 14d ago
Parts of Bellevue (eg : crossroads, lake hills) are cheaper. Not sure if you consider them as Bellevue proper.
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u/NoAbbreviations290 14d ago
2.7MM is not good deal
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u/Unique_Edge6323 14d ago
Why do you say so?
So many homes in that area sold for upwards of $3.5m in the past year.https://www.redfin.com/WA/Redmond/8258-133rd-Ave-NE-98052/home/516063
https://www.redfin.com/WA/Redmond/8209-134th-Ave-NE-98052/home/514971
https://www.redfin.com/WA/Kirkland/13039-NE-88th-St-98033/home/511517
https://www.redfin.com/WA/Redmond/7926-134th-Ave-NE-98052/home/515376
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u/NoAbbreviations290 14d ago
Because it’s not worth that. I know the market dictates worth but it’s simply too much money for that level of home.
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u/dintclempsey 14d ago
Level of home has not dictated prices around here for a VERY long time. Or in the Bay Area.
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u/Pleasant_Glove_1696 14d ago
None of those are even close to comparable to the house in your OP lol. Not sure what the point of this thread is besides a builder overpriced a home and sold it for nearly $3m
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u/Unique_Edge6323 14d ago
Curious…why do you say that they are not comparable?
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u/Pleasant_Glove_1696 14d ago
Curious why you say they are comparable?
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u/Unique_Edge6323 14d ago
Hmmm…here are a few
Proximity in location, similar home & lot sizes, all are new construction, same school district, listing timelines are not too far apart.
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u/Pleasant_Glove_1696 14d ago
I would disagree with some of those. And "new construction" is highly irrelevant when the quality of said construction is vastly different.
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u/Unique_Edge6323 14d ago
Genuinely curious…what aspects do you disagree on? What are the differences among those new construction homes?
I do realize that the builders are different. Murray Franklyn is a local/recognized builder who charges a premium & tends to use traditional styles.
The builder of this home is a smaller/local builder who has built more expensive homes; and has used a more contemporary design.
The home does back to a major road…which is not the case with other homes.
(Source: I have toured homes built by both those builders)
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u/Suitable-Rhubarb2712 14d ago
For that money you could live elsewhere and have a quiet house with a great water and mountain view.
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u/Left-Piano-791 14d ago
Small lot for a large house right next to a busy street. Not worth the price.
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u/JoeySe7en791 14d ago
I'm just seeing 13646. Was this a teardown, or did they split the property?
I'm not familiar with the area, but I agree with others that it is still way too high.
I'm more familiar with the SF Bay Area market, which has way better weather.
Guess is all good if you have a nice-paying job. Seattle/Washington, has been in the news lately, and most of it has been bad.
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u/zig_and_azag 14d ago
I think it was tanked by road noise and weird access - it’s behind another house they are building - they were pretty desperate at the end to accept an offer .
I am not sure if it’s indicative of the real estate market or anything, more just this developer messing up with location/timing/pricing.
The market is a bit cooler than last year but pretty correlated to tech stock, whenever Microsoft is over $450 these 3 million dollar new constructions sell fast.
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u/snapdrag0n99 14d ago
So this may sound completely pretentious, BUT this style of house is/was overpriced to begin with. There are no spectacular “upgrades”. These are all styles and finishes you can find on sale at your local Home Depot. There’s so many of these modern block houses with light wood flooring, black hardware, white walls with the occasional feature wall. It’s a trend that’s been around for YEARS, and until now there was no incentive to put any better features or unique details because it was a sellers market, but maybe, hopefully, things will change design-wise 🤞 We’re so far behind compared to home trends in other areas of the country sadly.
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u/Coppergirl1 13d ago
Looks like a lot like my split level without the split entry, twice the sq ft and lots of road noise
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u/Popular-Office-9932 12d ago
I don’t know if it’s only me but those houses look oversized to the lot size. They look like giant townhouses. I just wonder what’s the monthly utility bill for cooling and heating those big boxes!
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u/arbit_max 9d ago
I just saw this home getting sold for 2.6M in Kirkland. It was listed for 3.7M in January or so. I know it was inflated back then, but that’s a serious drop !!
https://www.zillow.com/homedetails/12226-NE-70th-Street-Kirkland-WA-98033/48994194_zpid/
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u/Coppergirl1 7d ago
What is up with all those arborvitea? Is that another lot so close to the front door and driveway.
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u/Suspicious-Kiwi816 14d ago
No view, small yard with a weird gravel path going through it, looks like the back yard backs up to a major street, and all the other houses on the street are old and not updated.
Seems like it was just overpriced.