Is Ephrata, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ephrata has remained a Seller's Market.
Key Takeaway
Ephrata is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ephrata, WA
How much do homes in Ephrata, WA cost?
Median Sold Price
$328,750
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ephrata have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Ephrata was $328,750 in May 2024, up 9.6% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $414.5K | N/A |
| 2 Bedrooms | $217.2K | $237.5K | +9.3% |
| 3 Bedrooms | $320.9K | $332K | +3.5% |
| 4 Bedrooms | $356K | $385.4K | +8.3% |
| 5+ Bedrooms | $460K | $695K | +51.1% |
Summary: Ephrata housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 51.1%.
Median Sold Price Compared To Nearby Cities
| Ephrata | $300K | $328.7K | +9.6% |
| Ephrata-Soap Lake | $324.7K | $330K | +1.6% |
Housing Supply in Ephrata, WA
How many homes are available in Ephrata, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 62 | +21.6% |
Summary: The Ephrata real estate market had 62 homes for sale in May 2024, a 21.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 30 | 32 | +6.7% |
| 4 Bedrooms | 13 | 17 | +30.8% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Ephrata housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 16 | +77.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ephrata, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Ephrata in May 2024, up by 77.8% month-over-month. Of the 16 sold homes, 38% were sold under asking, 19% were sold at asking, and 44% were sold over asking.
Days on Market for Ephrata, WA
How long does it take to sell a home in Ephrata, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 102 Days | +93.2% |
Summary: Homes in Ephrata had an average of 102 days on market in May 2024, up by 93.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ephrata has remained consistent over time.
Summary: During May 2024, 16 homes were sold in Ephrata; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% 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.