Is Ephrata-Soap Lake, 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, Ephrata-Soap Lake has remained a Seller's Market.
Key Takeaway
Ephrata-Soap Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ephrata-Soap Lake, WA
How much do homes in Ephrata-Soap Lake, WA cost?
Median Sold Price
$330,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ephrata-Soap Lake have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Ephrata-Soap Lake was $330,000 in May 2024, up 1.6% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $379K | +152.7% |
| 2 Bedrooms | $215K | $235K | +9.3% |
| 3 Bedrooms | $327.5K | $329K | 0.5% |
| 4 Bedrooms | $399.9K | $425K | +6.3% |
| 5+ Bedrooms | $560K | $625.7K | +11.7% |
Summary: Ephrata-Soap Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 152.7%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Ephrata | $300K | $328.7K | +9.6% |
| Soap Lake | $276.5K | $299.9K | +8.5% |
| Moses Lake | $324.9K | $345.7K | +6.4% |
| Ephrata-Soap Lake | $324.7K | $330K | +1.6% |
Housing Supply in Ephrata-Soap Lake, WA
How many homes are available in Ephrata-Soap Lake, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 90 | 106 | +17.8% |
Summary: The Ephrata-Soap Lake real estate market had 106 homes for sale in May 2024, a 17.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 14 | 18 | +28.6% |
| 3 Bedrooms | 47 | 52 | +10.6% |
| 4 Bedrooms | 19 | 23 | +21.1% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Ephrata-Soap Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 22 | +69.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ephrata-Soap Lake, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Ephrata-Soap Lake in May 2024, up by 69.2% month-over-month. Of the 22 sold homes, 36% were sold under asking, 27% were sold at asking, and 36% were sold over asking.
Days on Market for Ephrata-Soap Lake, WA
How long does it take to sell a home in Ephrata-Soap Lake, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 66 Days | 95 Days | +44.4% |
Summary: Homes in Ephrata-Soap Lake had an average of 95 days on market in May 2024, up by 44.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ephrata-Soap Lake has remained consistent over time.
Summary: During May 2024, 22 homes were sold in Ephrata-Soap Lake; 32% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.