Is Westlake, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Westlake was a Seller's Market.
Key Takeaway
Westlake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Westlake, WA
How much do homes in Westlake, WA cost?
Median Sold Price
$600,000
$622/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westlake have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in Westlake was $600,000 in April 2024, up 14.3% from last year, and the median price per square foot was $622.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $425K | $375K | -11.8% |
| 2 Bedrooms | $600K | $642.5K | +7.1% |
| 3 Bedrooms | $1.6M | $1.3M | -16.1% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Westlake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes increased by 7.1%, 3 bedroom homes decreased by 16.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Westlake | $525K | $600K | +14.3% |
| East Queen Anne | $950K | $992.5K | +4.5% |
| Queen Anne | $902.3K | $918.7K | +1.8% |
| Lake Union | $891.9K | $898.9K | +0.8% |
Housing Supply in Westlake, WA
How many homes are available in Westlake, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Summary: The Westlake real estate market had 8 homes for sale in April 2024, a 14.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 1 | 0 | -100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Westlake 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 increased by 50%, 3 bedroom homes decreased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westlake, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Westlake in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Westlake, WA
How long does it take to sell a home in Westlake, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 52 Days | 180 Days | +242.9% |
Summary: Homes in Westlake had an average of 180 days on market in Apr 2024, up by 242.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Westlake are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in Westlake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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.