$6,472 Closing Credit*
$544,990
2,211 SqFt
4 Beds
•3 Baths
Heidi Barker, Listing Office: New Home Star Washington, LLC
Is Five Mile / Prairie, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Five Mile / Prairie has remained a Seller's Market.
Key Takeaway
Five Mile / Prairie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Five Mile / Prairie, WA
How much do homes in Five Mile / Prairie, WA cost?
Median Sold Price
$530,851
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$44,149(-7.7%)
Key Takeaway
Homes in Five Mile / Prairie have sold for 7.7% less than they did a year ago.
Summary: The median home sold price in Five Mile / Prairie was $530,851 in October 2024, down 7.7% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $360K | - | N/A |
| 3 Bedrooms | $508K | $442.2K | -12.9% |
| 4 Bedrooms | $560K | $541.6K | -3.3% |
| 5+ Bedrooms | $685.9K | $670K | -2.3% |
Summary: Five Mile / Prairie housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 12.9%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 2.3%.
Housing Supply in Five Mile / Prairie, WA
How many homes are available in Five Mile / Prairie, WA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 48 | +14.3% |
Summary: The Five Mile / Prairie real estate market had 48 homes for sale in October 2024, a 14.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 20 | 20 | 0.0% |
| 4 Bedrooms | 11 | 15 | +36.4% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Five Mile / Prairie housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 9 | -35.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Five Mile / Prairie, expect to pay close to the asking price. 55.6% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in Five Mile / Prairie in October 2024, down by 35.7% month-over-month. Of the 9 sold homes, 22% were sold under asking, 56% were sold at asking, and 22% were sold over asking.
Days on Market for Five Mile / Prairie, WA
How long does it take to sell a home in Five Mile / Prairie, WA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 17 Days | -60.7% |
Summary: Homes in Five Mile / Prairie had an average of 17 days on market in Oct 2024, down by 60.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Five Mile / Prairie are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Five Mile / Prairie; 78% of homes were sold within 30 days, 22% 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.