Is 98118, 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, 98118 has remained a Seller's Market.
Key Takeaway
98118 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98118, WA
How much do homes in 98118, WA cost?
Median Sold Price
$750,000
$481/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 98118 has remained the same since last year.
Summary: The median home sold price in 98118 was $750,000 in March 2024, up 0.1% from last year, and the median price per square foot was $481.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $389.9K | $425K | +9.0% |
| 2 Bedrooms | $612.5K | $568.2K | -7.2% |
| 3 Bedrooms | $797K | $786.2K | -1.3% |
| 4 Bedrooms | $839K | $905K | +7.9% |
| 5+ Bedrooms | $915K | $1.0M | +10.1% |
Summary: 98118 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes decreased by 7.2%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 10.1%.
Housing Supply in 98118, WA
How many homes are available in 98118, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 107 | 122 | +14.0% |
Summary: The 98118 real estate market had 122 homes for sale in March 2024, a 14.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 36 | 43 | +19.4% |
| 4 Bedrooms | 26 | 30 | +15.4% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The 98118 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 27 | -20.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98118, expect to pay close to the asking price. 51.9% of homes here sold near the asking price last month.
Summary: A total of 27 homes were sold or pending in 98118 in March 2024, down by 20.6% month-over-month. Of the 27 sold homes, 22% were sold under asking, 52% were sold at asking, and 26% were sold over asking.
Days on Market for 98118, WA
How long does it take to sell a home in 98118, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 43 Days | +53.9% |
Summary: Homes in 98118 had an average of 43 days on market in Mar 2024, up by 53.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98118 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 27 homes were sold in 98118; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
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 © 2024 Northwest MLS. All rights reserved.