Is Medina, 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, Medina was a Buyer's Market.
Key Takeaway
Medina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medina, WA
How much do homes in Medina, WA cost?
Median Sold Price
$3,962,500
$1,139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Medina have sold for 25.5% less than they did a year ago.
Summary: The median home sold price in Medina was $3,962,500 in May 2024, down 25.5% from last year, and the median price per square foot was $1,139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $2.5M | N/A |
| 2 Bedrooms | $2.5M | $2.9M | +15.8% |
| 3 Bedrooms | $6.9M | $3.7M | -45.0% |
| 4 Bedrooms | $4.7M | $3.9M | -17.3% |
| 5+ Bedrooms | $5.6M | $5.6M | 0.3% |
Summary: Medina housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.8%, 3 bedroom homes decreased by 45%, 4 bedroom homes decreased by 17.3%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Seattle East | $1.0M | $1.2M | +12.2% |
| Bellevue | $1.3M | $1.4M | +10.8% |
| Clyde Hill | $3.8M | $3.5M | -8.1% |
| Medina | $5.3M | $3.9M | -25.5% |
Housing Supply in Medina, WA
How many homes are available in Medina, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 28 | +3.7% |
Summary: The Medina real estate market had 28 homes for sale in May 2024, a 3.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 0 | 2 | +100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 10 | 13 | +30.0% |
| 5+ Bedrooms | 14 | 10 | -28.6% |
Summary: The Medina housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medina, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Medina in May 2024, up by 16.7% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Medina, WA
How long does it take to sell a home in Medina, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 4 Days | 21 Days | +425.0% |
Summary: Homes in Medina had an average of 21 days on market in May 2024, up by 425% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medina are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Medina; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% 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.