Is Echo Lake, 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, Echo Lake has remained a Seller's Market.
Key Takeaway
Echo Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Echo Lake, WA
How much do homes in Echo Lake, WA cost?
Median Sold Price
$694,500
$451/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Echo Lake have sold for 3.5% less than they did a year ago.
Summary: The median home sold price in Echo Lake was $694,500 in April 2024, down 3.5% from last year, and the median price per square foot was $451.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $296K | $300K | +1.4% |
| 2 Bedrooms | $400K | $500K | +25.0% |
| 3 Bedrooms | $725K | $730K | +0.7% |
| 4 Bedrooms | $870K | $850K | -2.3% |
| 5+ Bedrooms | - | $775K | N/A |
Summary: Echo Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes did not change.
Housing Supply in Echo Lake, WA
How many homes are available in Echo Lake, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Summary: The Echo Lake real estate market had 16 homes for sale in April 2024, a 60.0% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Echo 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 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Echo Lake, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Echo Lake in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.
Days on Market for Echo Lake, WA
How long does it take to sell a home in Echo Lake, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 10 Days | +76.7% |
Summary: Homes in Echo Lake had an average of 10 days on market in Apr 2024, up by 76.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Echo Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Echo Lake; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.