Is Medical Lake, 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, Medical Lake has remained a Seller's Market.
Housing Prices in Medical Lake, WA
How much do homes in Medical Lake, WA cost?
Median Sold Price
$400,549
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Medical Lake was $400,549 in April 2024, up 0.5% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $216K | $297.4K | +37.7% |
2 Bedrooms | $301.2K | $297K | -1.4% |
3 Bedrooms | $375K | $360K | -4.0% |
4 Bedrooms | $409.9K | $400.9K | -2.2% |
5+ Bedrooms | $465K | $545K | +17.2% |
Summary: Medical Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.7%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 17.2%.
Median Sold Price Compared To Nearby Cities
Medical Lake | $398.5K | $400.5K | 0.5% |
Cheney-Medical Lake | $400K | $395.5K | -1.1% |
Housing Supply in Medical Lake, WA
How many homes are available in Medical Lake, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 27 | -3.6% |
Summary: The Medical Lake real estate market had 27 homes for sale in April 2024, a 3.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 11 | 12 | +9.1% |
4 Bedrooms | 11 | 6 | -45.5% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Medical Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 45.5%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 7 | -30.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Medical Lake in April 2024, down by 30.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Medical Lake, WA
How long does it take to sell a home in Medical Lake, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 37 Days | +81.1% |
Summary: Homes in Medical Lake had an average of 37 days on market in Apr 2024, up by 81.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Medical Lake; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.