Is Spanaway, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Spanaway has remained a Seller's Market.
Key Takeaway
Spanaway is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spanaway, WA
How much do homes in Spanaway, WA cost?
Median Sold Price
$485,107
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Spanaway have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Spanaway was $485,107 in June 2024, up 4.7% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $550K | $359.9K | -34.5% |
| 2 Bedrooms | $375K | $379.9K | +1.3% |
| 3 Bedrooms | $439.9K | $455.2K | +3.5% |
| 4 Bedrooms | $510K | $530K | +3.9% |
| 5+ Bedrooms | $546.5K | $535K | -2.1% |
Summary: Spanaway housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.5%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
| Spanaway | $463.5K | $485.1K | +4.7% |
| Graham | $520.5K | $539.9K | +3.7% |
| Fort Lewis-DuPont | $510.1K | $526.2K | +3.2% |
| Graham-Thrift | $525.9K | $538.7K | +2.4% |
Housing Supply in Spanaway, WA
How many homes are available in Spanaway, WA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 210 | 206 | -1.9% |
Summary: The Spanaway real estate market had 206 homes for sale in June 2024, a 1.9% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 12 | +100.0% |
| 3 Bedrooms | 120 | 111 | -7.5% |
| 4 Bedrooms | 63 | 67 | +6.3% |
| 5+ Bedrooms | 19 | 15 | -21.1% |
Summary: The Spanaway housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 21.1%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 69 | 57 | -17.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spanaway, you could pay more than the asking price. 45.6% of homes here sold above asking price last month.
Summary: A total of 57 homes were sold or pending in Spanaway in June 2024, down by 17.4% month-over-month. Of the 57 sold homes, 23% were sold under asking, 32% were sold at asking, and 46% were sold over asking.
Days on Market for Spanaway, WA
How long does it take to sell a home in Spanaway, WA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 17 Days | 22 Days | +27.1% |
Summary: Homes in Spanaway had an average of 22 days on market in Jun 2024, up by 27.1% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spanaway are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 57 homes were sold in Spanaway; 88% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 5% 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.