Is Southwest, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Southwest has remained a Seller's Market.
Housing Prices in Southwest, WA
How much do homes in Southwest, WA cost?
Median Sold Price
$890,228
$557/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southwest was $890,228 in April 2024, up 1.7% from last year, and the median price per square foot was $557.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $404K | $450K | +11.4% |
2 Bedrooms | $659.5K | $706K | +7.1% |
3 Bedrooms | $899.9K | $926.2K | +2.9% |
4 Bedrooms | $1.2M | $1.3M | +6.5% |
5+ Bedrooms | $1.3M | $1.5M | +13.0% |
Summary: Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Neighborhoods
Southwest | $875.2K | $890.2K | +1.7% |
Birdle Heights | $850K | $732K | -13.9% |
Housing Supply in Southwest, WA
How many homes are available in Southwest, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
209 | 263 | +25.8% |
Summary: The Southwest real estate market had 263 homes for sale in April 2024, a 25.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 15 | +25.0% |
2 Bedrooms | 61 | 89 | +45.9% |
3 Bedrooms | 80 | 93 | +16.3% |
4 Bedrooms | 44 | 50 | +13.6% |
5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 45.9%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
64 | 82 | +28.1% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Summary: A total of 82 homes were sold or pending in Southwest in April 2024, up by 28.1% month-over-month. Of the 82 sold homes, 16% were sold under asking, 30% were sold at asking, and 54% were sold over asking.
Days on Market for Southwest, WA
How long does it take to sell a home in Southwest, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 18 Days | -5.8% |
Summary: Homes in Southwest had an average of 18 days on market in Apr 2024, down by 5.8% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 82 homes were sold in Southwest; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.