Is Loon Lake, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Loon Lake is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Loon Lake was a Seller's Market.

Key Takeaway

Loon Lake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Loon Lake, WA

How much do homes in Loon Lake, WA cost?

Median Sold Price

$562,500

$235/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$12,500(+2.3%)

Key Takeaway

Homes in Loon Lake have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in Loon Lake was $562,500 in February 2024, up 2.3% from last year, and the median price per square foot was $235.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $475K$130K
-72.6%
2 $322.5K$435K
+34.9%
3 $531K$542K
+2.1%
4 $545K$525.3K
-3.6%
5+ $621K$680K
+9.5%

Summary: Loon Lake housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 72.6%, 2 bedroom homes increased by 34.9%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 9.5%.

Median Sold Price Compared To Nearby Cities

Nine Mile Falls
+7.4%
Loon Lake
+2.3%

Housing Supply in Loon Lake, WA

How many homes are available in Loon Lake, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2527+8.0%

Summary: The Loon Lake real estate market had 27 homes for sale in February 2024, a 8.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 00
0.0%
3 1013
+30.0%
4 67
+16.7%
5+ 86
-25.0%

Summary: The Loon Lake housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
440.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Loon Lake, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Loon Lake in February 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for Loon Lake, WA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
79 Days51 Days-35.7%

Summary: Homes in Loon Lake had an average of 51 days on market in Feb 2024, down by 35.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 4 homes were sold in Loon Lake; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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 18 Days Ago

Newest Listings in Loon Lake, WA

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