$78,900
0.42 Acres
Land
Chelsey Graves, Listing Office: Coldwell Banker Tomlinson
Is Medical Lake, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Medical Lake was a Seller's Market.
Key Takeaway
Medical Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Medical Lake, WA
How much do homes in Medical Lake, WA cost?
Median Sold Price
$445,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,000(+7.0%)
Key Takeaway
Homes in Medical Lake have sold for 7% more than they did a year ago.
Summary: The median home sold price in Medical Lake was $445,000 in November 2024, up 7% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $324.9K | $242K | -25.5% |
| 2 Bedrooms | $297K | $295.5K | -0.5% |
| 3 Bedrooms | $400K | $383.9K | -4.0% |
| 4 Bedrooms | $400.9K | $443.2K | +10.5% |
| 5+ Bedrooms | $522K | $507K | -2.9% |
Summary: Medical Lake housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.5%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
| Medical Lake | $416K | $445K | +7.0% |
| Cheney-Medical Lake | $400K | $405K | +1.3% |
Housing Supply in Medical Lake, WA
How many homes are available in Medical Lake, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 | 36 | -18.2% |
Summary: The Medical Lake real estate market had 36 homes for sale in November 2024, a 18.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 18 | 12 | -33.3% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Medical Lake housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 3 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Medical Lake, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Medical Lake in November 2024, down by 75.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Medical Lake, WA
How long does it take to sell a home in Medical Lake, WA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 24 Days | -12.6% |
Summary: Homes in Medical Lake had an average of 24 days on market in Nov 2024, down by 12.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medical Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Medical Lake; 100% of homes were sold within 30 days, 0% 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.