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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Republic is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Republic was a Buyer's Market.

Key Takeaway

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

Housing Prices in Republic, WA

How much do homes in Republic, WA cost?

Median Sold Price

$230,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,100(+11.2%)

Key Takeaway

Homes in Republic have sold for 11.2% more than they did a year ago.

Summary: The median home sold price in Republic was $230,000 in May 2024, up 11.2% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $132K$170K
+28.8%
2 $160K$298.2K
+86.4%
3 $229.4K$230K
0.2%
4 $206.9K$420K
+103.0%
5+ --
N/A

Summary: Republic housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.8%, 2 bedroom homes increased by 86.4%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 103%, and 5+ bedroom homes did not change.

Housing Supply in Republic, WA

How many homes are available in Republic, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1321+61.5%

Summary: The Republic real estate market had 21 homes for sale in May 2024, a 61.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 33
0.0%
2 25
+150.0%
3 58
+60.0%
4 13
+200.0%
5+ 22
0.0%

Summary: The Republic 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 150%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
04+100.0%

Asking Price vs. Sold Price

3 Homes Were 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 Republic, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Republic in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for Republic, WA

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

Average Sale Time

May 2023May 2024CHANGE
116 Days96 Days-17.0%

Summary: Homes in Republic had an average of 96 days on market in May 2024, down by 17% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 4 homes were sold in Republic; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 23 Days Ago

Newest Listings in Republic, WA

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