Is Nine Mile Falls, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Nine Mile Falls was a Seller's Market.
Key Takeaway
Nine Mile Falls is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Nine Mile Falls, WA
How much do homes in Nine Mile Falls, WA cost?
Median Sold Price
$600,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Nine Mile Falls have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in Nine Mile Falls was $600,000 in May 2024, down 1.7% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $755K | $765.3K | +1.4% |
| 2 Bedrooms | $360K | $410K | +13.9% |
| 3 Bedrooms | $631.2K | $562K | -11.0% |
| 4 Bedrooms | $575K | $555K | -3.5% |
| 5+ Bedrooms | $650K | $679K | +4.5% |
Summary: Nine Mile Falls housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 13.9%, 3 bedroom homes decreased by 11%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 4.5%.
Housing Supply in Nine Mile Falls, WA
How many homes are available in Nine Mile Falls, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 43 | +22.9% |
Summary: The Nine Mile Falls real estate market had 43 homes for sale in May 2024, a 22.9% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 12 | +100.0% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Nine Mile Falls 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Nine Mile Falls, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Nine Mile Falls in May 2024, down by 36.4% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Nine Mile Falls, WA
How long does it take to sell a home in Nine Mile Falls, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 24 Days | -52.9% |
Summary: Homes in Nine Mile Falls had an average of 24 days on market in May 2024, down by 52.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Nine Mile Falls are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Nine Mile Falls; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS 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.