Is Millwood, 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, Millwood has remained a Seller's Market.
Key Takeaway
Millwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Millwood, WA
How much do homes in Millwood, WA cost?
Median Sold Price
$375,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Millwood have sold for 5% more than they did a year ago.
Summary: The median home sold price in Millwood was $375,000 in May 2024, up 5% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $295K | $285K | -3.4% |
| 3 Bedrooms | $355K | $380K | +7.0% |
| 4 Bedrooms | $417.5K | $385K | -7.8% |
| 5+ Bedrooms | $400K | $355K | -11.3% |
Summary: Millwood 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 3.4%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 11.3%.
Median Sold Price Compared To Nearby Cities
| Millwood | $357K | $375K | +5.0% |
| Spokane Valley | $411K | $418K | +1.7% |
Housing Supply in Millwood, WA
How many homes are available in Millwood, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Summary: The Millwood real estate market had 6 homes for sale in May 2024, a 50.0% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 0 | 2 | +100.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Millwood 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 increased by 100%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Millwood, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Millwood in May 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Millwood, WA
How long does it take to sell a home in Millwood, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 13 Days | -31.6% |
Summary: Homes in Millwood had an average of 13 days on market in May 2024, down by 31.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Millwood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Millwood; 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.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.