Is Elma, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Elma has remained a Seller's Market.
Key Takeaway
Elma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elma, WA
How much do homes in Elma, WA cost?
Median Sold Price
$355,675
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elma have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Elma was $355,675 in March 2024, up 6.2% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $395.5K | N/A |
| 2 Bedrooms | $300K | $279.9K | -6.7% |
| 3 Bedrooms | $350K | $375K | +7.1% |
| 4 Bedrooms | $407.5K | $476K | +16.8% |
| 5+ Bedrooms | $425K | $445K | +4.7% |
Summary: Elma housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 4.7%.
Housing Supply in Elma, WA
How many homes are available in Elma, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 35 | +9.4% |
Summary: The Elma real estate market had 35 homes for sale in March 2024, a 9.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Elma housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 9.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elma, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Elma in March 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.
Days on Market for Elma, WA
How long does it take to sell a home in Elma, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 70 Days | 96 Days | +37.3% |
Summary: Homes in Elma had an average of 96 days on market in Mar 2024, up by 37.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Elma are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 7 homes were sold in Elma; 14% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 57% 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.