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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lakebay is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Lakebay has remained a Seller's Market.

Key Takeaway

Lakebay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lakebay, WA

How much do homes in Lakebay, WA cost?

Median Sold Price

$410,000

$304/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$8,000(+2.0%)

Key Takeaway

Homes in Lakebay have sold for 2% more than they did a year ago.

Summary: The median home sold price in Lakebay was $410,000 in May 2024, up 2% from last year, and the median price per square foot was $304.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $365K$249K
-31.8%
2 $342.5K$385K
+12.4%
3 $407K$418K
+2.7%
4 $521.7K$677.5K
+29.9%
5+ $769.9K$625K
-18.8%

Summary: Lakebay housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.8%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 29.9%, and 5+ bedroom homes decreased by 18.8%.

Median Sold Price Compared To Nearby Cities

Lakebay
+2.0%
Key Peninsula-Anderson Island
-1.1%
Vaughn
-18.9%

Housing Supply in Lakebay, WA

How many homes are available in Lakebay, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3338+15.2%

Summary: The Lakebay real estate market had 38 homes for sale in May 2024, a 15.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 43
-25.0%
2 47
+75.0%
3 1919
0.0%
4 47
+75.0%
5+ 22
0.0%

Summary: The Lakebay housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 75%, 3 bedroom homes remained the same, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
87-12.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lakebay, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Lakebay in May 2024, down by 12.5% month-over-month. Of the 7 sold homes, 14% were sold under asking, 57% were sold at asking, and 29% were sold over asking.

Days on Market for Lakebay, WA

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

Average Sale Time

May 2023May 2024CHANGE
41 Days43 Days+5.0%

Summary: Homes in Lakebay had an average of 43 days on market in May 2024, up by 5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 7 homes were sold in Lakebay; 71% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% 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 20 Days Ago

Newest Listings in Lakebay, WA

Nearby Markets to Lakebay, WA

What housing markets are near Lakebay, WA?