Is Ephrata-Soap Lake, 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-Soap Lake has remained a Seller's Market.
Key Takeaway
Ephrata-Soap Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ephrata-Soap Lake, WA
How much do homes in Ephrata-Soap Lake, WA cost?
Median Sold Price
$333,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Ephrata-Soap Lake have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Ephrata-Soap Lake was $333,000 in March 2024, up 2.5% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $372K | N/A |
| 2 Bedrooms | $212K | $226.1K | +6.7% |
| 3 Bedrooms | $325K | $330K | +1.5% |
| 4 Bedrooms | $387K | $430K | +11.1% |
| 5+ Bedrooms | $510K | $651.5K | +27.7% |
Summary: Ephrata-Soap Lake 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 6.7%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 27.7%.
Median Sold Price Compared To Nearby Cities
| Soap Lake | $270K | $287.4K | +6.5% |
| Ephrata-Soap Lake | $325K | $333K | +2.5% |
| Ephrata | $318K | $325K | +2.2% |
| Moses Lake | $335K | $341.8K | +2.0% |
Housing Supply in Ephrata-Soap Lake, WA
How many homes are available in Ephrata-Soap Lake, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 83 | +12.2% |
Summary: The Ephrata-Soap Lake real estate market had 83 homes for sale in March 2024, a 12.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 18 | 20 | +11.1% |
| 3 Bedrooms | 33 | 38 | +15.2% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The Ephrata-Soap Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 21 | +110.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ephrata-Soap Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Ephrata-Soap Lake in March 2024, up by 110.0% month-over-month. Of the 21 sold homes, 67% were sold under asking, 24% were sold at asking, and 10% were sold over asking.
Days on Market for Ephrata-Soap Lake, WA
How long does it take to sell a home in Ephrata-Soap Lake, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 84 Days | 65 Days | -22.2% |
Summary: Homes in Ephrata-Soap Lake had an average of 65 days on market in Mar 2024, down by 22.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ephrata-Soap Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 21 homes were sold in Ephrata-Soap Lake; 43% of homes were sold within 30 days, 24% 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.