$5,106 Closing Credit*
$430,000
2,204 SqFt
4 Beds
•3 Baths
Kelcee Cramer, Listing Office: Amplify Real Estate Services
Is Otis Orchards, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Otis Orchards was a Neutral Market.
Key Takeaway
Otis Orchards is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Otis Orchards, WA
How much do homes in Otis Orchards, WA cost?
Median Sold Price
$440,000
$226/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$322,000(-42.3%)
Key Takeaway
Homes in Otis Orchards have sold for 42.3% less than they did a month ago.
Summary: The median home sold price in Otis Orchards was $440,000 in October 2024, down 42.3% from last month, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $582K | - | N/A |
| 3 Bedrooms | $940K | $432.5K | -54.0% |
| 4 Bedrooms | $569.5K | $765K | +34.3% |
| 5+ Bedrooms | $845K | $845K | 0.0% |
Summary: Otis Orchards housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 54%, 4 bedroom homes increased by 34.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Newman Lake | $580K | $432.5K | -25.4% |
| Otis Orchards | $762K | $440K | -42.3% |
Housing Supply in Otis Orchards, WA
How many homes are available in Otis Orchards, WA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 40 | +8.1% |
Summary: The Otis Orchards real estate market had 40 homes for sale in October 2024, a 8.1% 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Otis Orchards 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Otis Orchards, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Otis Orchards in October 2024, up by 16.7% month-over-month. Of the 7 sold homes, 86% were sold under asking, 14% were sold at asking, and 0% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 Days | 51 Days | +21.8% |
Summary: Homes in Otis Orchards had an average of 51 days on market in Oct 2024, up by 21.8% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Otis Orchards are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Otis Orchards; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.