Is West Central, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, West Central was a Seller's Market.
Key Takeaway
West Central 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 West Central, WA
How much do homes in West Central, WA cost?
Median Sold Price
$325,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Central have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in West Central was $325,000 in May 2024, up 1.6% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $192.2K | -33.7% |
| 2 Bedrooms | $288K | $270K | -6.3% |
| 3 Bedrooms | $325K | $338.1K | +4.0% |
| 4 Bedrooms | $315K | $327.8K | +4.1% |
| 5+ Bedrooms | $325K | $374.5K | +15.2% |
Summary: West Central housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.7%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Neighborhoods
| West Central | $320K | $325K | +1.6% |
| Nettletons | $320K | $321.7K | 0.5% |
Housing Supply in West Central, WA
How many homes are available in West Central, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 44 | +46.7% |
Summary: The West Central real estate market had 44 homes for sale in May 2024, a 46.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 10 | 17 | +70.0% |
| 4 Bedrooms | 7 | 12 | +71.4% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The West Central housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 70%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Central, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in West Central in May 2024, down by 36.4% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for West Central, WA
How long does it take to sell a home in West Central, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 19 Days | +415.0% |
Summary: Homes in West Central had an average of 19 days on market in May 2024, up by 415% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Central are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in West Central; 86% of homes were sold within 30 days, 14% 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.