Is Edgewood, 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, Edgewood was a Seller's Market.
Key Takeaway
Edgewood 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 Edgewood, WA
How much do homes in Edgewood, WA cost?
Median Sold Price
$730,000
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Edgewood have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Edgewood was $730,000 in May 2024, up 11.5% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $400K | $465K | +16.3% |
| 3 Bedrooms | $600K | $655K | +9.2% |
| 4 Bedrooms | $749.9K | $919.9K | +22.7% |
| 5+ Bedrooms | $930K | $869.9K | -6.5% |
Summary: Edgewood 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 increased by 16.3%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Cities
| Milton | $525K | $600K | +14.3% |
| Edgewood | $654.7K | $730K | +11.5% |
| Federal Way-Auburn | $544.7K | $556.2K | +2.1% |
| Pacific | $515K | $525K | +1.9% |
| Sumner | $540K | $525K | -2.8% |
Housing Supply in Edgewood, WA
How many homes are available in Edgewood, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 57 | +5.6% |
Summary: The Edgewood real estate market had 57 homes for sale in May 2024, a 5.6% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 25 | 30 | +20.0% |
| 4 Bedrooms | 21 | 18 | -14.3% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Edgewood 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Edgewood, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Edgewood in May 2024, down by 40.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for Edgewood, WA
How long does it take to sell a home in Edgewood, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 67 Days | 17 Days | -73.9% |
Summary: Homes in Edgewood had an average of 17 days on market in May 2024, down by 73.9% compared to last year.
Breakdown of Home Sale Times
8 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 Edgewood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Edgewood; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.