$9,797 Closing Credit*
$825,000
4,255 SqFt
5 Beds
•4 Baths
Todd Grubb, Listing Office: Keller Williams Spokane - Main
Is Otis Orchards, 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, Otis Orchards was a Seller's Market.
Key Takeaway
Otis Orchards 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 Otis Orchards, WA
How much do homes in Otis Orchards, WA cost?
Median Sold Price
$600,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$125,000(+26.3%)
Key Takeaway
Homes in Otis Orchards have sold for 26.3% more than they did a year ago.
Summary: The median home sold price in Otis Orchards was $600,000 in November 2024, up 26.3% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $335K | $402.2K | +20.1% |
| 3 Bedrooms | $410K | $440K | +7.3% |
| 4 Bedrooms | $601K | $600K | -0.2% |
| 5+ Bedrooms | $660K | $692.5K | +4.9% |
Summary: Otis Orchards housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Cities
| Otis Orchards | $475K | $600K | +26.3% |
| Spokane Valley | $414.9K | $422.8K | +1.9% |
| Greenacres | $511.6K | $499.9K | -2.3% |
| Mount Spokane | $648.5K | $599.9K | -7.5% |
| Newman Lake | $515K | $459.9K | -10.7% |
Housing Supply in Otis Orchards, WA
How many homes are available in Otis Orchards, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 31 | +3.3% |
Summary: The Otis Orchards real estate market had 31 homes for sale in November 2024, a 3.3% increase 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 | 0 | 2 | +100.0% |
| 3 Bedrooms | 9 | 4 | -55.6% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 11 | 16 | +45.5% |
Summary: The Otis Orchards 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 increased by 100%, 3 bedroom homes decreased by 55.6%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 45.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 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 Otis Orchards, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Otis Orchards in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Otis Orchards, WA
How long does it take to sell a home in Otis Orchards, WA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 48 Days | 26 Days | -45.0% |
Summary: Homes in Otis Orchards had an average of 26 days on market in Nov 2024, down by 45% compared to last year.
Breakdown of Home Sale Times
3 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 Otis Orchards are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Otis Orchards; 60% of homes were sold within 30 days, 40% 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.