Is Republic, 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, Republic was a Buyer's Market.
Key Takeaway
Republic is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Republic, WA
How much do homes in Republic, WA cost?
Median Sold Price
$230,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Republic have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Republic was $230,000 in May 2024, up 11.2% 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 | $132K | $170K | +28.8% |
| 2 Bedrooms | $160K | $298.2K | +86.4% |
| 3 Bedrooms | $229.4K | $230K | 0.2% |
| 4 Bedrooms | $206.9K | $420K | +103.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: Republic housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.8%, 2 bedroom homes increased by 86.4%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 103%, and 5+ bedroom homes did not change.
Housing Supply in Republic, WA
How many homes are available in Republic, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 21 | +61.5% |
Summary: The Republic real estate market had 21 homes for sale in May 2024, a 61.5% increase 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 | 2 | 5 | +150.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Republic 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 150%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Republic, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Republic in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Republic, WA
How long does it take to sell a home in Republic, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 116 Days | 96 Days | -17.0% |
Summary: Homes in Republic had an average of 96 days on market in May 2024, down by 17% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Republic are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Republic; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.