Is Otis Orchards, 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, Otis Orchards was a Buyer's Market.
Housing Prices in Otis Orchards, WA
How much do homes in Otis Orchards, WA cost?
Median Sold Price
$472,500
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Otis Orchards was $472,500 in March 2024, down 0.5% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $329.9K | $335K | +1.5% |
3 Bedrooms | $450K | $422.5K | -6.1% |
4 Bedrooms | $569.5K | $562.5K | -1.2% |
5+ Bedrooms | $852.5K | $720K | -15.5% |
Summary: Otis Orchards 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 increased by 1.5%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 15.5%.
Median Sold Price Compared To Nearby Cities
Mount Spokane | $618.1K | $650K | +5.2% |
Newman Lake | $500K | $505K | +1.0% |
Spokane Valley | $419.8K | $418K | -0.4% |
Otis Orchards | $475K | $472.5K | -0.5% |
Greenacres | $559.6K | $500K | -10.7% |
Housing Supply in Otis Orchards, WA
How many homes are available in Otis Orchards, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 24 | +50.0% |
Summary: The Otis Orchards real estate market had 24 homes for sale in March 2024, a 50.0% 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 | 1 | 0 | -100.0% |
3 Bedrooms | 2 | 3 | +50.0% |
4 Bedrooms | 6 | 11 | +83.3% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Otis Orchards 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 decreased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Otis Orchards in March 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.
Days on Market for Otis Orchards, WA
How long does it take to sell a home in Otis Orchards, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 51 Days | +35.8% |
Summary: Homes in Otis Orchards had an average of 51 days on market in Mar 2024, up by 35.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Otis Orchards; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.