Is Southeast, 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, Southeast has remained a Seller's Market.
Key Takeaway
Southeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southeast, WA
How much do homes in Southeast, WA cost?
Median Sold Price
$775,000
$480/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southeast have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Southeast was $775,000 in May 2024, up 2.5% from last year, and the median price per square foot was $480.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $455.5K | $477.5K | +4.8% |
| 2 Bedrooms | $580.9K | $623.5K | +7.3% |
| 3 Bedrooms | $800K | $765K | -4.4% |
| 4 Bedrooms | $874.9K | $975K | +11.4% |
| 5+ Bedrooms | $1.0M | $1.2M | +25.6% |
Summary: Southeast housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 7.3%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 25.6%.
Housing Supply in Southeast, WA
How many homes are available in Southeast, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 160 | 194 | +21.3% |
Summary: The Southeast real estate market had 194 homes for sale in May 2024, a 21.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 21 | 38 | +81.0% |
| 3 Bedrooms | 70 | 73 | +4.3% |
| 4 Bedrooms | 43 | 49 | +14.0% |
| 5+ Bedrooms | 21 | 28 | +33.3% |
Summary: The Southeast housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 81%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 55 | -9.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southeast, expect to pay close to the asking price. 41.8% of homes here sold near the asking price last month.
Summary: A total of 55 homes were sold or pending in Southeast in May 2024, down by 9.8% month-over-month. Of the 55 sold homes, 20% were sold under asking, 42% were sold at asking, and 38% were sold over asking.
Days on Market for Southeast, WA
How long does it take to sell a home in Southeast, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 30 Days | +21.2% |
Summary: Homes in Southeast had an average of 30 days on market in May 2024, up by 21.2% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southeast are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 55 homes were sold in Southeast; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% 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.