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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orchards is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Orchards, WA

How much do homes in Orchards, WA cost?

Median Sold Price

$460,000

$293/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$10,000(+2.2%)

Key Takeaway

Homes in Orchards have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in Orchards was $460,000 in May 2024, up 2.2% from last year, and the median price per square foot was $293.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $214.9K$264K
+22.8%
2 $335K$350K
+4.5%
3 $435K$441.5K
+1.5%
4 $530K$540K
+1.9%
5+ $665K$631.1K
-5.1%

Summary: Orchards housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.8%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 5.1%.

Median Sold Price Compared To Nearby Cities

Camas
+7.9%
Vancouver
+5.0%
Brush Prairie
+3.5%
Orchards
+2.2%

Housing Supply in Orchards, WA

How many homes are available in Orchards, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
257271+5.4%

Summary: The Orchards real estate market had 271 homes for sale in May 2024, a 5.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 2126
+23.8%
3 157162
+3.2%
4 5561
+10.9%
5+ 2321
-8.7%

Summary: The Orchards housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 8.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6361-3.2%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orchards, you could pay more than the asking price. 42.6% of homes here sold above asking price last month.

Summary: A total of 61 homes were sold or pending in Orchards in May 2024, down by 3.2% month-over-month. Of the 61 sold homes, 30% were sold under asking, 28% were sold at asking, and 43% were sold over asking.

Days on Market for Orchards, WA

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

Average Sale Time

May 2023May 2024CHANGE
19 Days26 Days+35.8%

Summary: Homes in Orchards had an average of 26 days on market in May 2024, up by 35.8% compared to last year.

Breakdown of Home Sale Times

48 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 61 homes were sold in Orchards; 79% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 11% 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 13 Days Ago

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