Is Silverlake, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Silverlake is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Silverlake was a Seller's Market.

Key Takeaway

Silverlake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Silverlake, WA

How much do homes in Silverlake, WA cost?

Median Sold Price

$450,000

$284/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

+$131,000(+41.1%)

Key Takeaway

Homes in Silverlake have sold for 41.1% more than they did a month ago.

Summary: The median home sold price in Silverlake was $450,000 in May 2024, up 41.1% from last month, and the median price per square foot was $284.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 --
N/A
3 $319K$450K
+41.1%
4 --
N/A
5+ --
N/A

Summary: Silverlake housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 41.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Silverlake
+41.1%
Northeast Cowlitz
+41.1%
Toutle
+18.4%

Housing Supply in Silverlake, WA

How many homes are available in Silverlake, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
912+33.3%

Summary: The Silverlake real estate market had 12 homes for sale in May 2024, a 33.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 911
+22.2%
4 00
0.0%
5+ 00
0.0%

Summary: The Silverlake 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 100%, 3 bedroom homes increased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Silverlake, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Silverlake in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Silverlake, WA

How long does it take to sell a home in Silverlake, WA?

Average Sale Time

Apr 2024May 2024CHANGE
77 Days136 Days+76.5%

Summary: Homes in Silverlake had an average of 136 days on market in May 2024, up by 76.5% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Silverlake are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During May 2024, 2 homes were sold in Silverlake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Silverlake, WA

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