Is 98116, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since January 2022
Since last year, 98116 has remained a Seller's Market.
Key Takeaway
98116 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in 98116, WA cost?
Median Sold Price
$950,000
$606/sqft
Based on all homes sold in the last 12 months.
Difference Since January 2022
+$100,000(+11.8%)
Key Takeaway
Homes in 98116 have sold for 11.8% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Jan 2022 | Jan 2023 | % |
|---|---|---|---|
| 1 Bedroom | $399.5K | $442.5K | +10.8% |
| 2 Bedrooms | $679K | $730K | +7.5% |
| 3 Bedrooms | $875K | $1.0M | +14.9% |
| 4 Bedrooms | $1.1M | $1.4M | +27.8% |
| 5+ Bedrooms | $1.5M | $1.6M | +10.7% |
How many homes are available in 98116, WA?
Number of Homes For Sale
| Dec 2022 | Jan 2023 | % |
|---|---|---|
| 58 | 62 | +6.9% |
Homes For Sale By Bedroom Count
| # BEDS | Dec 2022 | Jan 2023 | % |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 20 | 23 | +15.0% |
| 3 Bedrooms | 26 | 25 | -3.8% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Number of Homes Sold
| Dec 2022 | Jan 2023 | % |
|---|---|---|
| 21 | 11 | -47.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 98116, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Average Sale Time
| Jan 2022 | Jan 2023 | % |
|---|---|---|
| 45 Days | 71 Days | +56.0% |
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 98116 has remained consistent over time.
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 © 2023 Northwest MLS. All rights reserved.