Is Elma, 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, Elma has remained a Seller's Market.
Key Takeaway
Elma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elma, WA
How much do homes in Elma, WA cost?
Median Sold Price
$379,500
$257/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elma have sold for 10% more than they did a year ago.
Summary: The median home sold price in Elma was $379,500 in May 2024, up 10% from last year, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $395.5K | N/A |
| 2 Bedrooms | $295.2K | $300K | +1.6% |
| 3 Bedrooms | $355K | $389.9K | +9.8% |
| 4 Bedrooms | $413.7K | $530K | +28.1% |
| 5+ Bedrooms | $425K | $445K | +4.7% |
Summary: Elma 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 1.6%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 4.7%.
Housing Supply in Elma, WA
How many homes are available in Elma, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 48 | +11.6% |
Summary: The Elma real estate market had 48 homes for sale in May 2024, a 11.6% 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 | 7 | 10 | +42.9% |
| 3 Bedrooms | 26 | 26 | 0.0% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elma 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 42.9%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elma, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Elma in May 2024, up by 28.6% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Elma, WA
How long does it take to sell a home in Elma, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 55 Days | +34.4% |
Summary: Homes in Elma had an average of 55 days on market in May 2024, up by 34.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elma are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Elma; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% 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.