Is Soap Lake, 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, Soap Lake has remained a Seller's Market.
Housing Prices in Soap Lake, WA
How much do homes in Soap Lake, WA cost?
Median Sold Price
$299,900
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Soap Lake was $299,900 in May 2024, up 8.5% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $150K | $90K | -40.0% |
2 Bedrooms | $153K | $226.5K | +48.0% |
3 Bedrooms | $309.9K | $312K | +0.7% |
4 Bedrooms | $292.5K | $364.5K | +24.6% |
5+ Bedrooms | - | - | N/A |
Summary: Soap Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 48%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Soap Lake | $276.5K | $299.9K | +8.5% |
Ephrata-Soap Lake | $324.7K | $330K | +1.6% |
Housing Supply in Soap Lake, WA
How many homes are available in Soap Lake, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 29 | +16.0% |
Summary: The Soap Lake real estate market had 29 homes for sale in May 2024, a 16.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Soap Lake 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 10%, 3 bedroom homes increased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Soap Lake in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Soap Lake, WA
How long does it take to sell a home in Soap Lake, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
108 Days | 63 Days | -41.3% |
Summary: Homes in Soap Lake had an average of 63 days on market in May 2024, down by 41.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Soap Lake; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.