Redman is one of seven listed restricted free agents across the AFL in 2023, with teammate Darcy Parish also falling under the same band as the pair currently weigh up their futures for next year and beyond.
Redman's value to the Tullamarine club has soared across the past 24 months, with the South Australian now holding a pivotal role in Brad Scott's backline as a hard-nosed, attacking option off the Bombers' half-back line.
The 25-year-old is believed to be on the radar of Adelaide as the season, and his contract uncertainty, progresses, but Redman has admitted there's "no go home factor" amid South Australian interest, having grown 400 kilometres from the state's capital city.
The Essendon backman has revealed he hasn't ruled out a move to South Australia, however his focus is set on playing the best football he can across the coming months.
"I certainly wouldn't rule it out," Redman told SEN on Friday.
"I don't reckon it's where I'm headed at the moment. I'll keep plying my trade at Essendon and hopefully we'll finish off with a really good year.
"... I've got no real go home factor because I live four hours from Adelaide and five hours from Melbourne."
Redman joins Parish and young midfielder Ben Hobbs in being key retention priorities for the club, with Essendon hopeful of retaining all three from 2024.
The Bombers' star off-contract pair in Parish and Redman are among the pool of restricted free agents this year, with North Melbourne' Ben McKay, GWS swingman Harry Himmelberg, Saint Jade Gresham, Crow Tom Doedee and Port Adelaide's Charlie Dixon also falling under the same band.
Redman is in his eighth season with Essendon and has played 87 games in the red and black, with the 2022 season seeing the defender finish fourth on the club's best and fairest leaderboard.