Is Colbert, 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, Colbert has remained a Seller's Market.
Key Takeaway
Colbert is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colbert, WA
How much do homes in Colbert, WA cost?
Median Sold Price
$599,950
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Colbert have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in Colbert was $599,950 in May 2024, down 1.5% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | - | N/A |
| 2 Bedrooms | $377.7K | $470K | +24.4% |
| 3 Bedrooms | $590K | $548K | -7.1% |
| 4 Bedrooms | $614.8K | $560K | -8.9% |
| 5+ Bedrooms | $639.9K | $699K | +9.2% |
Summary: Colbert 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 24.4%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes increased by 9.2%.
Median Sold Price Compared To Nearby Cities
| Mount Spokane | $616.2K | $660K | +7.1% |
| Mead | $453.5K | $473.9K | +4.5% |
| Colbert | $609K | $599.9K | -1.5% |
| Chattaroy | $630K | $587.5K | -6.7% |
| Elk | $582.5K | $515K | -11.6% |
Housing Supply in Colbert, WA
How many homes are available in Colbert, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 91 | +54.2% |
Summary: The Colbert real estate market had 91 homes for sale in May 2024, a 54.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 14 | 25 | +78.6% |
| 4 Bedrooms | 20 | 31 | +55.0% |
| 5+ Bedrooms | 19 | 28 | +47.4% |
Summary: The Colbert 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 25%, 3 bedroom homes increased by 78.6%, 4 bedroom homes increased by 55%, and 5+ bedroom homes increased by 47.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 18 | +63.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Colbert, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Colbert in May 2024, up by 63.6% month-over-month. Of the 18 sold homes, 50% were sold under asking, 28% were sold at asking, and 22% were sold over asking.
Days on Market for Colbert, WA
How long does it take to sell a home in Colbert, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 16 Days | -33.4% |
Summary: Homes in Colbert had an average of 16 days on market in May 2024, down by 33.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colbert are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Colbert; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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.