$9,143 Closing Credit*
$769,950
1,406 SqFt
3 Beds
•1 Full Bath, 1 Partial
John Cowan, Listing Office: Windermere Real Estate Co.
Is Southwest, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Southwest has remained a Seller's Market.
Key Takeaway
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest, WA
How much do homes in Southwest, WA cost?
Median Sold Price
$899,838
$560/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$49,838(+5.9%)
Key Takeaway
Homes in Southwest have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Southwest was $899,838 in November 2024, up 5.9% from last year, and the median price per square foot was $560.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $410K | $479K | +16.8% |
| 2 Bedrooms | $675K | $721.8K | +6.9% |
| 3 Bedrooms | $899.9K | $932.5K | +3.6% |
| 4 Bedrooms | $1.3M | $1.2M | -3.5% |
| 5+ Bedrooms | $1.4M | $1.5M | +7.7% |
Summary: Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.8%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 7.7%.
Housing Supply in Southwest, WA
How many homes are available in Southwest, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 275 | 216 | -21.5% |
Summary: The Southwest real estate market had 216 homes for sale in November 2024, a 21.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 24 | -11.1% |
| 2 Bedrooms | 79 | 67 | -15.2% |
| 3 Bedrooms | 99 | 71 | -28.3% |
| 4 Bedrooms | 53 | 41 | -22.6% |
| 5+ Bedrooms | 17 | 13 | -23.5% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 15.2%, 3 bedroom homes decreased by 28.3%, 4 bedroom homes decreased by 22.6%, and 5+ bedroom homes decreased by 23.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 94 | 69 | -26.6% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.
Summary: A total of 69 homes were sold or pending in Southwest in November 2024, down by 26.6% month-over-month. Of the 69 sold homes, 48% were sold under asking, 33% were sold at asking, and 19% were sold over asking.
Days on Market for Southwest, WA
How long does it take to sell a home in Southwest, WA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 34 Days | +8.9% |
Summary: Homes in Southwest had an average of 34 days on market in Nov 2024, up by 8.9% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 69 homes were sold in Southwest; 62% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service 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.