Is Cheney-Medical Lake, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cheney-Medical Lake is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Cheney-Medical Lake has remained a Seller's Market.

Key Takeaway

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

How much do homes in Cheney-Medical Lake, WA cost?

Median Sold Price

$390,000

$213/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$61,875(+18.9%)

Key Takeaway

Homes in Cheney-Medical Lake have sold for 18.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $155K$240K
+54.8%
2 $211.9K$273.5K
+29.0%
3 $314.2K$363.7K
+15.7%
4 $365K$420K
+15.1%
5+ $350K$435K
+24.3%

Median Sold Price Compared To Nearby Cities

Cheney-Medical Lake
+18.9%
Medical Lake
+18.9%
Cheney
+15.8%

How many homes are available in Cheney-Medical Lake, WA?

Number of Homes For Sale

Jul 2022Aug 2022%
9695-1.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 78
+14.3%
3 4145
+9.8%
4 3529
-17.1%
5+ 1313
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
2921-27.6%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cheney-Medical Lake, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.

Average Sale Time

Aug 2021Aug 2022%
7 Days14 Days+103.1%

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Cheney-Medical Lake, WA

Homes for sale in Cheney-Medical Lake, WA have reached 95. The number of listings in Cheney-Medical Lake, WA decreased by 1% between July 2022 and August 2022. In August 2022, listings were on the market for 14 days. During the same period, the median list price in this real estate market was $390,000. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 54.8%, prices of 2 bedrooms properties increased by 29%, prices of 3 bedrooms properties went up by 15.7%, 4 bedrooms properties became 15.1% more expensive, prices of 5 bedrooms properties went up by 24.3%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes stayed the same, 2 bedrooms homes became 14.3% more available, the quantity of 3 bedrooms homes went up by 9.8%, volume of 4 bedrooms homes went down by 17.1%, number of 5 bedrooms homes remained the same. Cheney-Medical Lake, WA housing market in August 2022 saw over 4 listings sold above listed price, more than 12 sold at listed price and over 5 sold below.

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