Is Silver Lake, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Silver Lake has remained a Seller's Market.
Key Takeaway
Silver Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Lake, WA
How much do homes in Silver Lake, WA cost?
Median Sold Price
$789,000
$397/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Silver Lake have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Silver Lake was $789,000 in April 2024, up 1.8% from last year, and the median price per square foot was $397.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | - | N/A |
| 2 Bedrooms | $482K | $490K | +1.7% |
| 3 Bedrooms | $700K | $700K | 0.0% |
| 4 Bedrooms | $850.2K | $865K | +1.7% |
| 5+ Bedrooms | $987.4K | $985K | -0.2% |
Summary: Silver Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.7%, 3 bedroom homes did not change, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 0.2%.
Housing Supply in Silver Lake, WA
How many homes are available in Silver Lake, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 55 | 69 | +25.5% |
Summary: The Silver Lake real estate market had 69 homes for sale in April 2024, a 25.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 23 | 37 | +60.9% |
| 4 Bedrooms | 19 | 17 | -10.5% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The Silver Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 60.9%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 24 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Lake, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Silver Lake in April 2024, up by 50.0% month-over-month. Of the 24 sold homes, 13% were sold under asking, 29% were sold at asking, and 58% were sold over asking.
Days on Market for Silver Lake, WA
How long does it take to sell a home in Silver Lake, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 15 Days | -65.2% |
Summary: Homes in Silver Lake had an average of 15 days on market in Apr 2024, down by 65.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 24 homes were sold in Silver Lake; 92% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% 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.