Is East Central, 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, East Central has remained a Seller's Market.
Key Takeaway
East Central is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Central, WA
How much do homes in East Central, WA cost?
Median Sold Price
$302,135
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Central have sold for 11.1% less than they did a year ago.
Summary: The median home sold price in East Central was $302,135 in May 2024, down 11.1% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $287.5K | +64.2% |
| 2 Bedrooms | $269.9K | $238.5K | -11.6% |
| 3 Bedrooms | $343K | $303.5K | -11.5% |
| 4 Bedrooms | $350K | $345K | -1.4% |
| 5+ Bedrooms | $481.5K | $360K | -25.2% |
Summary: East Central housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.2%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 25.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Union Park | $285K | $255.7K | -10.3% |
| East Central | $340K | $302.1K | -11.1% |
Housing Supply in East Central, WA
How many homes are available in East Central, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 47 | +9.3% |
Summary: The East Central real estate market had 47 homes for sale in May 2024, a 9.3% 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 | 15 | 16 | +6.7% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The East 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 6.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 12 | -42.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Central, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in East Central in May 2024, down by 42.9% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for East Central, WA
How long does it take to sell a home in East Central, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 20 Days | -13.5% |
Summary: Homes in East Central had an average of 20 days on market in May 2024, down by 13.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Central are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in East Central; 75% of homes were sold within 30 days, 25% 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.