Is Southgate, 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, Southgate has remained a Seller's Market.
Key Takeaway
Southgate is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southgate, WA
How much do homes in Southgate, WA cost?
Median Sold Price
$510,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southgate have sold for 2% more than they did a year ago.
Summary: The median home sold price in Southgate was $510,000 in April 2024, up 2% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $275K | $245.5K | -10.7% |
| 3 Bedrooms | $462.4K | $460.5K | -0.4% |
| 4 Bedrooms | $499.9K | $520K | +4.0% |
| 5+ Bedrooms | $581.7K | $560K | -3.7% |
Summary: Southgate 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 decreased by 10.7%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 3.7%.
Housing Supply in Southgate, WA
How many homes are available in Southgate, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 30 | +7.1% |
Summary: The Southgate real estate market had 30 homes for sale in April 2024, a 7.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Southgate 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 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southgate, expect to pay close to the asking price. 62.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Southgate in April 2024, down by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 63% were sold at asking, and 0% were sold over asking.
Days on Market for Southgate, WA
How long does it take to sell a home in Southgate, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 21 Days | +80.3% |
Summary: Homes in Southgate had an average of 21 days on market in Apr 2024, up by 80.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southgate are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Southgate; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.