Is Emerson / Garfield, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Emerson / Garfield has remained a Seller's Market.
Key Takeaway
Emerson / Garfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Emerson / Garfield, WA
How much do homes in Emerson / Garfield, WA cost?
Median Sold Price
$315,000
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Emerson / Garfield have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Emerson / Garfield was $315,000 in May 2024, up 2.1% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $230K | +2.2% |
| 2 Bedrooms | $280K | $264.5K | -5.5% |
| 3 Bedrooms | $313.9K | $312.5K | -0.5% |
| 4 Bedrooms | $322.5K | $365K | +13.2% |
| 5+ Bedrooms | $315.4K | $424.1K | +34.5% |
Summary: Emerson / Garfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 34.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Emerson / Garfield | $308.3K | $315K | +2.1% |
| Whitings | $320K | $285.9K | -10.6% |
Housing Supply in Emerson / Garfield, WA
How many homes are available in Emerson / Garfield, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 40 | +37.9% |
Summary: The Emerson / Garfield real estate market had 40 homes for sale in May 2024, a 37.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 12 | 18 | +50.0% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Emerson / Garfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 11 | +175.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Emerson / Garfield, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Emerson / Garfield in May 2024, up by 175.0% month-over-month. Of the 11 sold homes, 36% were sold under asking, 36% were sold at asking, and 27% were sold over asking.
Days on Market for Emerson / Garfield, WA
How long does it take to sell a home in Emerson / Garfield, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 5 Days | -20.5% |
Summary: Homes in Emerson / Garfield had an average of 5 days on market in May 2024, down by 20.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Emerson / Garfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Emerson / Garfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.