Is Northwest, 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, Northwest has remained a Seller's Market.
Housing Prices in Northwest, WA
How much do homes in Northwest, WA cost?
Median Sold Price
$354,425
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Northwest was $354,425 in May 2024, up 2% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $229.6K | +24.1% |
2 Bedrooms | $274K | $285K | +4.0% |
3 Bedrooms | $339.9K | $345.3K | +1.6% |
4 Bedrooms | $375K | $380K | +1.3% |
5+ Bedrooms | $399K | $415K | +4.0% |
Summary: Northwest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.1%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Neighborhoods
Northwest | $347.5K | $354.4K | +2.0% |
Boulevard Park | $372.5K | $349.5K | -6.2% |
Housing Supply in Northwest, WA
How many homes are available in Northwest, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
90 | 116 | +28.9% |
Summary: The Northwest real estate market had 116 homes for sale in May 2024, a 28.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 15 | 22 | +46.7% |
3 Bedrooms | 36 | 47 | +30.6% |
4 Bedrooms | 31 | 38 | +22.6% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Northwest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 46.7%, 3 bedroom homes increased by 30.6%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 37 | +19.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Northwest in May 2024, up by 19.4% month-over-month. Of the 37 sold homes, 16% were sold under asking, 19% were sold at asking, and 65% were sold over asking.
Days on Market for Northwest, WA
How long does it take to sell a home in Northwest, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
10 Days | 11 Days | +8.0% |
Summary: Homes in Northwest had an average of 11 days on market in May 2024, up by 8% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in Northwest; 92% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.