Is Ellensburg, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ellensburg is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Ellensburg was a Seller's Market.

Key Takeaway

Ellensburg 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 Ellensburg, WA

How much do homes in Ellensburg, WA cost?

Median Sold Price

$457,250

$261/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$6,650(-1.4%)

Key Takeaway

Homes in Ellensburg have sold for 1.4% less than they did a year ago.

Summary: The median home sold price in Ellensburg was $457,250 in May 2024, down 1.4% from last year, and the median price per square foot was $261.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $305K$273K
-10.5%
2 $330K$350K
+6.1%
3 $449K$464.7K
+3.5%
4 $560K$459.3K
-18.0%
5+ $550K$509.9K
-7.3%

Summary: Ellensburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 18%, and 5+ bedroom homes decreased by 7.3%.

Median Sold Price Compared To Nearby Cities

Manastash Ridge
+23.5%
Northeast Kittitas
+6.8%
Ellensburg
-1.4%

Housing Supply in Ellensburg, WA

How many homes are available in Ellensburg, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
147171+16.3%

Summary: The Ellensburg real estate market had 171 homes for sale in May 2024, a 16.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 33
0.0%
2 1521
+40.0%
3 6988
+27.5%
4 4241
-2.4%
5+ 1818
0.0%

Summary: The Ellensburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 27.5%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
3426-23.5%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ellensburg, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 26 homes were sold or pending in Ellensburg in May 2024, down by 23.5% month-over-month. Of the 26 sold homes, 27% were sold under asking, 50% were sold at asking, and 23% were sold over asking.

Days on Market for Ellensburg, WA

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

Average Sale Time

May 2023May 2024CHANGE
53 Days37 Days-31.0%

Summary: Homes in Ellensburg had an average of 37 days on market in May 2024, down by 31% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 26 homes were sold in Ellensburg; 77% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 15% 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 13 Days Ago

Newest Listings in Ellensburg, WA

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