Is Cheney-Medical Lake, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cheney-Medical Lake has remained a Seller's Market.
Housing Prices in Cheney-Medical Lake, WA
How much do homes in Cheney-Medical Lake, WA cost?
Median Sold Price
$395,500
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cheney-Medical Lake was $395,500 in April 2024, down 1.1% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150.5K | $324.9K | +115.9% |
2 Bedrooms | $271.2K | $264K | -2.7% |
3 Bedrooms | $377.5K | $361.1K | -4.3% |
4 Bedrooms | $426K | $434.5K | +2.0% |
5+ Bedrooms | $521K | $475K | -8.8% |
Summary: Cheney-Medical Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 115.9%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 8.8%.
Median Sold Price Compared To Nearby Cities
Cheney | $384.9K | $429.6K | +11.6% |
Medical Lake | $398.5K | $400.5K | 0.5% |
Cheney-Medical Lake | $400K | $395.5K | -1.1% |
Housing Supply in Cheney-Medical Lake, WA
How many homes are available in Cheney-Medical Lake, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
65 | 81 | +24.6% |
Summary: The Cheney-Medical Lake real estate market had 81 homes for sale in April 2024, a 24.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 24 | 34 | +41.7% |
4 Bedrooms | 21 | 24 | +14.3% |
5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The Cheney-Medical Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 18 | -10.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Cheney-Medical Lake in April 2024, down by 10.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 44% were sold at asking, and 28% were sold over asking.
Days on Market for Cheney-Medical Lake, WA
How long does it take to sell a home in Cheney-Medical Lake, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
31 Days | 19 Days | -39.6% |
Summary: Homes in Cheney-Medical Lake had an average of 19 days on market in Apr 2024, down by 39.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Cheney-Medical Lake; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.