Is Madrona, 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, Madrona has remained a Seller's Market.
Housing Prices in Madrona, WA
How much do homes in Madrona, WA cost?
Median Sold Price
$1,307,500
$646/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Madrona was $1,307,500 in March 2024, down 1.9% from last year, and the median price per square foot was $646.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $662.5K | - | N/A |
2 Bedrooms | $1.0M | $722.5K | -29.0% |
3 Bedrooms | $1.1M | $1.1M | -2.9% |
4 Bedrooms | $1.4M | $1.6M | +12.2% |
5+ Bedrooms | $3.3M | $2.7M | -18.7% |
Summary: Madrona 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 decreased by 29%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 18.7%.
Housing Supply in Madrona, WA
How many homes are available in Madrona, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Summary: The Madrona real estate market had 16 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 2 | 3 | +50.0% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Madrona housing inventory by bedroom type for March 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 50%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Madrona in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Madrona, WA
How long does it take to sell a home in Madrona, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
16 Days | 28 Days | +70.9% |
Summary: Homes in Madrona had an average of 28 days on market in Mar 2024, up by 70.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Madrona; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.