Is 98117, 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, 98117 has remained a Seller's Market.
Housing Prices in 98117, WA
How much do homes in 98117, WA cost?
Median Sold Price
$905,333
$572/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98117 was $905,333 in March 2024, down 5.8% from last year, and the median price per square foot was $572.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $459.5K | $700K | +52.3% |
2 Bedrooms | $750K | $740K | -1.3% |
3 Bedrooms | $925.5K | $920K | -0.6% |
4 Bedrooms | $1.2M | $1.2M | -1.5% |
5+ Bedrooms | $1.5M | $1.6M | +1.6% |
Summary: 98117 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.3%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 1.6%.
Housing Supply in 98117, WA
How many homes are available in 98117, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
119 | 135 | +13.4% |
Summary: The 98117 real estate market had 135 homes for sale in March 2024, a 13.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 11 | +83.3% |
2 Bedrooms | 40 | 47 | +17.5% |
3 Bedrooms | 46 | 47 | +2.2% |
4 Bedrooms | 23 | 21 | -8.7% |
5+ Bedrooms | 4 | 9 | +125.0% |
Summary: The 98117 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 83.3%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 125%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 51 | +30.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in 98117 in March 2024, up by 30.8% month-over-month. Of the 51 sold homes, 22% were sold under asking, 37% were sold at asking, and 41% were sold over asking.
Days on Market for 98117, WA
How long does it take to sell a home in 98117, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 34 Days | +16.7% |
Summary: Homes in 98117 had an average of 34 days on market in Mar 2024, up by 16.7% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 51 homes were sold in 98117; 71% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.