Is 98040, 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, 98040 has remained a Seller's Market.
Housing Prices in 98040, WA
How much do homes in 98040, WA cost?
Median Sold Price
$2,195,000
$771/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98040 was $2,195,000 in March 2024, down 5.1% from last year, and the median price per square foot was $771.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $475K | $415.7K | -12.5% |
2 Bedrooms | $689K | $629.5K | -8.6% |
3 Bedrooms | $1.6M | $1.7M | +2.8% |
4 Bedrooms | $2.4M | $2.2M | -6.3% |
5+ Bedrooms | $3.3M | $3.0M | -11.7% |
Summary: 98040 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 11.7%.
Housing Supply in 98040, WA
How many homes are available in 98040, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 58 | +41.5% |
Summary: The 98040 real estate market had 58 homes for sale in March 2024, a 41.5% 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 | 3 | 4 | +33.3% |
3 Bedrooms | 3 | 11 | +266.7% |
4 Bedrooms | 19 | 24 | +26.3% |
5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The 98040 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 266.7%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 18 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 98040 in March 2024, up by 50.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 6% were sold at asking, and 67% were sold over asking.
Days on Market for 98040, WA
How long does it take to sell a home in 98040, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 56 Days | +77.3% |
Summary: Homes in 98040 had an average of 56 days on market in Mar 2024, up by 77.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in 98040; 78% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.