Is Othello, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Othello was a Buyer's Market.
Key Takeaway
Othello is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Othello, WA
How much do homes in Othello, WA cost?
Median Sold Price
$364,000
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Othello have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Othello was $364,000 in March 2024, up 6.3% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $264.5K | $235.5K | -11.0% |
| 3 Bedrooms | $330K | $350K | +6.1% |
| 4 Bedrooms | $527.5K | $415.4K | -21.2% |
| 5+ Bedrooms | $352.5K | $484.9K | +37.6% |
Summary: Othello 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 11%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 21.2%, and 5+ bedroom homes increased by 37.6%.
Housing Supply in Othello, WA
How many homes are available in Othello, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 39 | +25.8% |
Summary: The Othello real estate market had 39 homes for sale in March 2024, a 25.8% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 12 | 17 | +41.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Othello 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 increased by 100%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Othello, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Othello in March 2024, up by 60.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 38% were sold at asking, and 13% were sold over asking.
Days on Market for Othello, WA
How long does it take to sell a home in Othello, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 41 Days | +50.9% |
Summary: Homes in Othello had an average of 41 days on market in Mar 2024, up by 50.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Othello are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Othello; 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.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.