Is Sultan, 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, Sultan was a Buyer's Market.
Key Takeaway
Sultan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sultan, WA
How much do homes in Sultan, WA cost?
Median Sold Price
$535,000
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sultan have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Sultan was $535,000 in May 2024, up 2.9% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $292.5K | $363K | +24.1% |
| 2 Bedrooms | $325K | $406K | +24.9% |
| 3 Bedrooms | $509.9K | $509.9K | 0.0% |
| 4 Bedrooms | $590.9K | $569.9K | -3.5% |
| 5+ Bedrooms | $599.9K | $589.9K | -1.7% |
Summary: Sultan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.1%, 2 bedroom homes increased by 24.9%, 3 bedroom homes did not change, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes decreased by 1.7%.
Housing Supply in Sultan, WA
How many homes are available in Sultan, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 57 | 42 | -26.3% |
Summary: The Sultan real estate market had 42 homes for sale in May 2024, a 26.3% decrease 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 26 | 21 | -19.2% |
| 4 Bedrooms | 23 | 10 | -56.5% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Sultan 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 40%, 3 bedroom homes decreased by 19.2%, 4 bedroom homes decreased by 56.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 16 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sultan, expect to pay close to the asking price. 62.5% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in Sultan in May 2024, down by 33.3% month-over-month. Of the 16 sold homes, 13% were sold under asking, 63% were sold at asking, and 25% were sold over asking.
Days on Market for Sultan, WA
How long does it take to sell a home in Sultan, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 66 Days | 20 Days | -68.7% |
Summary: Homes in Sultan had an average of 20 days on market in May 2024, down by 68.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sultan are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Sultan; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% 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.