Your Local Market Report
Medina, WA
Single-Family Homes
SeattlebyDesign Team, Realogics Sotheby's I.R.
Medina, WA
Fri Apr 23 2021
This week the median list price for Medina, WA is $6,450,000 with the market action index hovering around 36. This is less than last month's market action index of 39. Inventory has held steady at or around 9.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.
Real-Time Market Profile
| Median List Price | $6,450,000 | |
| Per Square Foot | $1,442 | |
| Days on Market | 56 | |
| Price Decreased | 22% | |
| Price Increased | 11% | |
| Relisted | 33% | |
| Inventory | 9 | |
| Median Rent | ||
| Most Expensive | $22,500,000 | |
| Least Expensive | $1,955,000 | |
| Market Action | 36 | |
| Slight Seller's Advantage | ||
This is a market where watching the value metrics (like price per square foot) can provide insight that you don’t get at first glance. We can see that home prices are rising somewhat, the price per square foot of homes listed has been declining. Often this can be attributed to new and remodeled homes on the market. Prices in the area are trending higher but buyers are getting more for their money.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $20,650,000 | 7,405 | 1 - 2.5 acres | 5 | 6 | 23 | 0 | 0 | 87 |
| $8,798,500 | 6,407 | 0.5 - 1 acre | 5 | 6 | 2 | 0 | 0 | 28 |
| $6,369,000 | 4,200 | 0.25 - 0.5 acre | 3 | 4 | 28 | 1 | 1 | 101 |
| $3,595,000 | 4,862 | 0.25 - 0.5 acre | 4 | 4 | 31 | 0 | 0 | 133 |