Is Newman Lake, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Newman Lake was a Seller's Market.
Key Takeaway
Newman Lake 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 Newman Lake, WA
How much do homes in Newman Lake, WA cost?
Median Sold Price
$477,500
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Newman Lake have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Newman Lake was $477,500 in April 2024, down 4.3% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $330K | +13.8% |
| 2 Bedrooms | $527.5K | $430K | -18.5% |
| 3 Bedrooms | $451K | $723.1K | +60.4% |
| 4 Bedrooms | $515K | $459K | -10.9% |
| 5+ Bedrooms | $576.5K | $824.9K | +43.1% |
Summary: Newman Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes increased by 60.4%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes increased by 43.1%.
Median Sold Price Compared To Nearby Cities
| Otis Orchards | $488.5K | $525K | +7.5% |
| Mount Spokane | $615K | $650K | +5.7% |
| Mead | $480K | $474.4K | -1.1% |
| Newman Lake | $499K | $477.5K | -4.3% |
| Post Falls-Rathdrum | $560K | $470K | -16.1% |
Housing Supply in Newman Lake, WA
How many homes are available in Newman Lake, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 19 | +46.2% |
Summary: The Newman Lake real estate market had 19 homes for sale in April 2024, a 46.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 5 | 9 | +80.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Newman Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 80%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newman Lake, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Newman Lake in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Newman Lake, WA
How long does it take to sell a home in Newman Lake, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 57 Days | 18 Days | -67.5% |
Summary: Homes in Newman Lake had an average of 18 days on market in Apr 2024, down by 67.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newman Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Newman Lake; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS 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.