Is East Minnehaha, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, East Minnehaha was a Seller's Market.
Key Takeaway
East Minnehaha is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in East Minnehaha, WA
How much do homes in East Minnehaha, WA cost?
Median Sold Price
$446,950
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Minnehaha have sold for 3% more than they did a year ago.
Summary: The median home sold price in East Minnehaha was $446,950 in May 2024, up 3% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $113.5K | $135K | +18.9% |
| 2 Bedrooms | $381K | $398.5K | +4.6% |
| 3 Bedrooms | $425K | $431K | +1.4% |
| 4 Bedrooms | $505K | $520K | +3.0% |
| 5+ Bedrooms | $575K | $556.8K | -3.2% |
Summary: East Minnehaha housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 3.2%.
Housing Supply in East Minnehaha, WA
How many homes are available in East Minnehaha, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 31 | +29.2% |
Summary: The East Minnehaha real estate market had 31 homes for sale in May 2024, a 29.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 14 | 19 | +35.7% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The East Minnehaha housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 35.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Minnehaha, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in East Minnehaha in May 2024, the same as the previous month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for East Minnehaha, WA
How long does it take to sell a home in East Minnehaha, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 11 Days | -10.8% |
Summary: Homes in East Minnehaha had an average of 11 days on market in May 2024, down by 10.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Minnehaha are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in East Minnehaha; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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