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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Medina is a buyer's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

Medina is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Medina, WA

How much do homes in Medina, WA cost?

Median Sold Price

$4,230,000

$1,162/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$1,145,000(-21.3%)

Key Takeaway

Homes in Medina have sold for 21.3% less than they did a year ago.

Summary: The median home sold price in Medina was $4,230,000 in February 2024, down 21.3% from last year, and the median price per square foot was $1,162.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $2.5M$2.9M
+12.9%
3 $4.5M$4.5M
+1.1%
4 $5.5M$4.2M
-23.7%
5+ $5.7M$4.6M
-19.0%

Summary: Medina housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 23.7%, and 5+ bedroom homes decreased by 19%.

Median Sold Price Compared To Nearby Cities

Seattle East
+0.7%
Bellevue
0.1%
Medina
-21.3%

Housing Supply in Medina, WA

How many homes are available in Medina, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1419+35.7%

Summary: The Medina real estate market had 19 homes for sale in February 2024, a 35.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 12
+100.0%
4 78
+14.3%
5+ 69
+50.0%

Summary: The Medina 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 100%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
220.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 2 homes were sold or pending in Medina in February 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Medina, WA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
63 Days40 Days-36.8%

Summary: Homes in Medina had an average of 40 days on market in Feb 2024, down by 36.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 2 homes were sold in Medina; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Medina, WA

Nearby Markets to Medina, WA

What housing markets are near Medina, WA?