Is Latah Valley, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Latah Valley has remained a Seller's Market.
Key Takeaway
Latah Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Latah Valley, WA
How much do homes in Latah Valley, WA cost?
Median Sold Price
$619,950
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Latah Valley have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Latah Valley was $619,950 in May 2024, down 1.6% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | - | N/A |
| 2 Bedrooms | $382K | $352.2K | -7.8% |
| 3 Bedrooms | $560K | $512.4K | -8.5% |
| 4 Bedrooms | $648.7K | $624.9K | -3.7% |
| 5+ Bedrooms | $760K | $765K | +0.7% |
Summary: Latah Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.8%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 0.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Manito / Cannon Hill | $555.5K | $552.5K | -0.5% |
| Latah Valley | $630K | $619.9K | -1.6% |
Housing Supply in Latah Valley, WA
How many homes are available in Latah Valley, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 57 | +18.8% |
Summary: The Latah Valley real estate market had 57 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 13 | 19 | +46.2% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Latah Valley 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Latah Valley, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Latah Valley in May 2024, up by 11.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Latah Valley, WA
How long does it take to sell a home in Latah Valley, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 37 Days | +46.8% |
Summary: Homes in Latah Valley had an average of 37 days on market in May 2024, up by 46.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Latah Valley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Latah Valley; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.