Is Five Mile / Prairie, 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, Five Mile / Prairie has remained a Seller's Market.
Key Takeaway
Five Mile / Prairie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Five Mile / Prairie, WA
How much do homes in Five Mile / Prairie, WA cost?
Median Sold Price
$542,500
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Five Mile / Prairie have sold for 13.2% less than they did a year ago.
Summary: The median home sold price in Five Mile / Prairie was $542,500 in April 2024, down 13.2% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $362.5K | - | N/A |
| 3 Bedrooms | $449.9K | $442.9K | -1.5% |
| 4 Bedrooms | $617.4K | $515K | -16.6% |
| 5+ Bedrooms | $700K | $650K | -7.1% |
Summary: Five Mile / Prairie housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 16.6%, and 5+ bedroom homes decreased by 7.1%.
Housing Supply in Five Mile / Prairie, WA
How many homes are available in Five Mile / Prairie, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 30 | +25.0% |
Summary: The Five Mile / Prairie real estate market had 30 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 8 | 13 | +62.5% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Five Mile / Prairie housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Five Mile / Prairie, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Five Mile / Prairie in April 2024, up by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 50% were sold at asking, and 13% were sold over asking.
Days on Market for Five Mile / Prairie, WA
How long does it take to sell a home in Five Mile / Prairie, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 34 Days | +26.9% |
Summary: Homes in Five Mile / Prairie had an average of 34 days on market in Apr 2024, up by 26.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Five Mile / Prairie are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Five Mile / Prairie; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS 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.