Is Silverlake, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Silverlake is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Silverlake was a Seller's Market.

Key Takeaway

Silverlake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Silverlake, WA

How much do homes in Silverlake, WA cost?

Median Sold Price

$472,500

$287/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$29,000(+6.5%)

Key Takeaway

Homes in Silverlake have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Silverlake was $472,500 in November 2024, up 6.5% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $250.1K-
N/A
2 $404.9K$422.5K
+4.3%
3 $437K$472.5K
+8.1%
4 $654.5K-
N/A
5+ $625K-
N/A

Summary: Silverlake 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 4.3%, 3 bedroom homes increased by 8.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Silverlake, WA

How many homes are available in Silverlake, WA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2117-19.0%

Summary: The Silverlake real estate market had 17 homes for sale in November 2024, a 19.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 41
-75.0%
3 1211
-8.3%
4 22
0.0%
5+ 11
0.0%

Summary: The Silverlake 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 decreased by 75%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
81-87.5%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Silverlake, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in Silverlake in November 2024, down by 87.5% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Silverlake, WA

How long does it take to sell a home in Silverlake, WA?

Average Sale Time

Nov 2023Nov 2024CHANGE
108 Days4 Days-96.3%

Summary: Homes in Silverlake had an average of 4 days on market in Nov 2024, down by 96.3% 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Silverlake are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 1 homes were sold in Silverlake; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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