Is 98038, 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, 98038 has remained a Seller's Market.
Housing Prices in 98038, WA
How much do homes in 98038, WA cost?
Median Sold Price
$749,994
$374/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98038 was $749,994 in March 2024, down 6.3% from last year, and the median price per square foot was $374.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $404.9K | $596.5K | +47.3% |
2 Bedrooms | $475K | $495K | +4.2% |
3 Bedrooms | $667.6K | $680K | +1.8% |
4 Bedrooms | $875K | $856.5K | -2.1% |
5+ Bedrooms | $1.0M | $967.5K | -6.9% |
Summary: 98038 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.3%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 6.9%.
Housing Supply in 98038, WA
How many homes are available in 98038, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
78 | 102 | +30.8% |
Summary: The 98038 real estate market had 102 homes for sale in March 2024, a 30.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 16 | +33.3% |
3 Bedrooms | 27 | 41 | +51.9% |
4 Bedrooms | 27 | 34 | +25.9% |
5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The 98038 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 51.9%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 34 | +61.9% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in 98038 in March 2024, up by 61.9% month-over-month. Of the 34 sold homes, 21% were sold under asking, 18% were sold at asking, and 62% were sold over asking.
Days on Market for 98038, WA
How long does it take to sell a home in 98038, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 17 Days | -50.2% |
Summary: Homes in 98038 had an average of 17 days on market in Mar 2024, down by 50.2% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 34 homes were sold in 98038; 91% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.