Is 98031, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 98031 has remained a Seller's Market.
Housing Prices in 98031, WA
How much do homes in 98031, WA cost?
Median Sold Price
$655,175
$334/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98031 was $655,175 in March 2024, down 0.5% from last year, and the median price per square foot was $334.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $255K | $254.9K | 0% |
2 Bedrooms | $334.9K | $351K | +4.8% |
3 Bedrooms | $590K | $620K | +5.1% |
4 Bedrooms | $745K | $700K | -6.0% |
5+ Bedrooms | $829.9K | $850K | +2.4% |
Summary: 98031 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 2.4%.
Housing Supply in 98031, WA
How many homes are available in 98031, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
77 | 94 | +22.1% |
Summary: The 98031 real estate market had 94 homes for sale in March 2024, a 22.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 12 | 9 | -25.0% |
3 Bedrooms | 29 | 30 | +3.4% |
4 Bedrooms | 20 | 39 | +95.0% |
5+ Bedrooms | 15 | 13 | -13.3% |
Summary: The 98031 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 95%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 33 | +65.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in 98031 in March 2024, up by 65.0% month-over-month. Of the 33 sold homes, 27% were sold under asking, 33% were sold at asking, and 39% were sold over asking.
Days on Market for 98031, WA
How long does it take to sell a home in 98031, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
52 Days | 31 Days | -39.1% |
Summary: Homes in 98031 had an average of 31 days on market in Mar 2024, down by 39.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in 98031; 70% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.