Is Okanogan, 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, Okanogan has remained a Seller's Market.
Key Takeaway
Okanogan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Okanogan, WA
How much do homes in Okanogan, WA cost?
Median Sold Price
$238,750
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Okanogan have sold for 9.9% less than they did a year ago.
Summary: The median home sold price in Okanogan was $238,750 in May 2024, down 9.9% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $165K | +17.9% |
| 2 Bedrooms | $180.4K | $201K | +11.4% |
| 3 Bedrooms | $322.5K | $280.6K | -13.0% |
| 4 Bedrooms | $312.5K | $382.5K | +22.4% |
| 5+ Bedrooms | $575K | $120K | -79.1% |
Summary: Okanogan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes increased by 11.4%, 3 bedroom homes decreased by 13%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes decreased by 79.1%.
Median Sold Price Compared To Nearby Cities
| Omak | $252.5K | $280K | +10.9% |
| Colville Reservation | $182.5K | $192K | +5.2% |
| Okanogan | $265K | $238.7K | -9.9% |
Housing Supply in Okanogan, WA
How many homes are available in Okanogan, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 22 | -8.3% |
Summary: The Okanogan real estate market had 22 homes for sale in May 2024, a 8.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 7 | 3 | -57.1% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Okanogan 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 decreased by 57.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Okanogan, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Okanogan in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Okanogan, WA
How long does it take to sell a home in Okanogan, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 84 Days | +113.6% |
Summary: Homes in Okanogan had an average of 84 days on market in May 2024, up by 113.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Okanogan are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in Okanogan; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% 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.