Is Bonney Lake, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bonney Lake is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Bonney Lake has remained a Seller's Market.

Key Takeaway

Bonney Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bonney Lake, WA

How much do homes in Bonney Lake, WA cost?

Median Sold Price

$629,752

$299/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$29,752(+5.0%)

Key Takeaway

Homes in Bonney Lake have sold for 5% more than they did a year ago.

Summary: The median home sold price in Bonney Lake was $629,752 in May 2024, up 5% from last year, and the median price per square foot was $299.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $390K$322.5K
-17.3%
2 $452.7K$588K
+29.9%
3 $540K$560K
+3.7%
4 $670.9K$723.2K
+7.8%
5+ $715K$786.4K
+10.0%

Summary: Bonney Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.3%, 2 bedroom homes increased by 29.9%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 10%.

Median Sold Price Compared To Nearby Cities

Bonney Lake
+5.0%
Auburn
-1.0%
Sumner
-2.8%

Housing Supply in Bonney Lake, WA

How many homes are available in Bonney Lake, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
277298+7.6%

Summary: The Bonney Lake real estate market had 298 homes for sale in May 2024, a 7.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 2928
-3.4%
3 134143
+6.7%
4 8296
+17.1%
5+ 3131
0.0%

Summary: The Bonney Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
8569-18.8%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

24 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bonney Lake, you could pay more than the asking price. 37.7% of homes here sold above asking price last month.

Summary: A total of 69 homes were sold or pending in Bonney Lake in May 2024, down by 18.8% month-over-month. Of the 69 sold homes, 28% were sold under asking, 35% were sold at asking, and 38% were sold over asking.

Days on Market for Bonney Lake, WA

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

Average Sale Time

May 2023May 2024CHANGE
38 Days39 Days+2.5%

Summary: Homes in Bonney Lake had an average of 39 days on market in May 2024, up by 2.5% compared to last year.

Breakdown of Home Sale Times

46 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bonney Lake are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 69 homes were sold in Bonney Lake; 67% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 14% 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 20 Days Ago

Newest Listings in Bonney Lake, WA

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