$10,000 Closing Credit*
$950,000
2,700 SqFt
4 Beds
•3 Baths
Marcy Singleton, Listing Office: Keller Williams Spokane - Main
Is Newman 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, Newman Lake was a Seller's Market.
Key Takeaway
Newman Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Newman Lake, WA
How much do homes in Newman Lake, WA cost?
Median Sold Price
$459,950
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$55,050(-10.7%)
Key Takeaway
Homes in Newman Lake have sold for 10.7% less than they did a year ago.
Summary: The median home sold price in Newman Lake was $459,950 in November 2024, down 10.7% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $330K | +3.1% |
| 2 Bedrooms | $495K | $390K | -21.2% |
| 3 Bedrooms | $648.5K | $455K | -29.8% |
| 4 Bedrooms | $470K | $575K | +22.3% |
| 5+ Bedrooms | $762.4K | $762.5K | 0.0% |
Summary: Newman Lake housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes decreased by 21.2%, 3 bedroom homes decreased by 29.8%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Otis Orchards | $475K | $600K | +26.3% |
| Mead | $474.4K | $467.9K | -1.4% |
| Mount Spokane | $648.5K | $599.9K | -7.5% |
| Newman Lake | $515K | $459.9K | -10.7% |
Housing Supply in Newman Lake, WA
How many homes are available in Newman Lake, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 21 | -25.0% |
Summary: The Newman Lake real estate market had 21 homes for sale in November 2024, a 25.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 5 | 1 | -80.0% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Newman Lake housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 80%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 1 | -90.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newman Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Newman Lake in November 2024, down by 90.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Newman Lake, WA
How long does it take to sell a home in Newman Lake, WA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 41 Days | 8 Days | -80.9% |
Summary: Homes in Newman Lake had an average of 8 days on market in Nov 2024, down by 80.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newman Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1 homes were sold in Newman 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.