Is Ephrata, 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, Ephrata has remained a Seller's Market.
Key Takeaway
Ephrata is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ephrata, WA
How much do homes in Ephrata, WA cost?
Median Sold Price
$325,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Ephrata have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Ephrata was $325,000 in March 2024, up 2.2% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $414.5K | N/A |
| 2 Bedrooms | $213.5K | $225.7K | +5.7% |
| 3 Bedrooms | $320.9K | $330K | +2.8% |
| 4 Bedrooms | $352.5K | $425K | +20.6% |
| 5+ Bedrooms | $452.5K | $840K | +85.6% |
Summary: Ephrata 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 increased by 5.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes increased by 85.6%.
Median Sold Price Compared To Nearby Cities
| Ephrata-Soap Lake | $325K | $333K | +2.5% |
| Ephrata | $318K | $325K | +2.2% |
Housing Supply in Ephrata, WA
How many homes are available in Ephrata, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 47 | +9.3% |
Summary: The Ephrata real estate market had 47 homes for sale in March 2024, a 9.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 21 | 24 | +14.3% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Ephrata housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 12 | +140.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ephrata, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Ephrata in March 2024, up by 140.0% month-over-month. Of the 12 sold homes, 67% were sold under asking, 25% were sold at asking, and 8% were sold over asking.
Days on Market for Ephrata, WA
How long does it take to sell a home in Ephrata, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 67 Days | 70 Days | +5.1% |
Summary: Homes in Ephrata had an average of 70 days on market in Mar 2024, up by 5.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ephrata are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Ephrata; 42% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 33% 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.