Is Sumner, 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, Sumner has remained a Seller's Market.
Key Takeaway
Sumner is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sumner, WA
How much do homes in Sumner, WA cost?
Median Sold Price
$525,000
$338/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sumner have sold for 2.8% less than they did a year ago.
Summary: The median home sold price in Sumner was $525,000 in May 2024, down 2.8% from last year, and the median price per square foot was $338.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $605K | N/A |
| 2 Bedrooms | $408.5K | $425.5K | +4.2% |
| 3 Bedrooms | $542.6K | $549.9K | +1.4% |
| 4 Bedrooms | $655K | $640K | -2.3% |
| 5+ Bedrooms | $725K | $795K | +9.7% |
Summary: Sumner 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 4.2%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 9.7%.
Median Sold Price Compared To Nearby Cities
| Edgewood | $654.7K | $730K | +11.5% |
| Bonney Lake | $600K | $629.7K | +5.0% |
| Federal Way-Auburn | $544.7K | $556.2K | +2.1% |
| Pacific | $515K | $525K | +1.9% |
| Sumner | $540K | $525K | -2.8% |
Housing Supply in Sumner, WA
How many homes are available in Sumner, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Summary: The Sumner real estate market had 26 homes for sale in May 2024, a 36.8% increase 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 | 6 | 4 | -33.3% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 5 | 10 | +100.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Sumner 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 decreased by 33.3%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sumner, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Sumner in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 0% were sold under asking, 29% were sold at asking, and 71% were sold over asking.
Days on Market for Sumner, WA
How long does it take to sell a home in Sumner, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 9 Days | -49.2% |
Summary: Homes in Sumner had an average of 9 days on market in May 2024, down by 49.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sumner are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Sumner; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% 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.