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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$6,450,000|
|Per Square Foot||$1,442|
|Days on Market||56|
|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.
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|