Is 98122, 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, 98122 has remained a Seller's Market.
Housing Prices in 98122, WA
How much do homes in 98122, WA cost?
Median Sold Price
$849,000
$621/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98122 was $849,000 in March 2024, down 3.2% from last year, and the median price per square foot was $621.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $425K | $385K | -9.4% |
2 Bedrooms | $714.5K | $720K | +0.8% |
3 Bedrooms | $1.0M | $1.0M | -0.7% |
4 Bedrooms | $1.4M | $1.4M | +0.9% |
5+ Bedrooms | $1.9M | $1.5M | -19.2% |
Summary: 98122 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.4%, 2 bedroom homes increased by 0.8%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 19.2%.
Housing Supply in 98122, WA
How many homes are available in 98122, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
91 | 108 | +18.7% |
Summary: The 98122 real estate market had 108 homes for sale in March 2024, a 18.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 22 | 31 | +40.9% |
2 Bedrooms | 35 | 32 | -8.6% |
3 Bedrooms | 23 | 31 | +34.8% |
4 Bedrooms | 7 | 10 | +42.9% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 98122 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40.9%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes increased by 34.8%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
22 | 23 | +4.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in 98122 in March 2024, up by 4.5% month-over-month. Of the 23 sold homes, 48% were sold under asking, 22% were sold at asking, and 30% were sold over asking.
Days on Market for 98122, WA
How long does it take to sell a home in 98122, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
50 Days | 56 Days | +12.4% |
Summary: Homes in 98122 had an average of 56 days on market in Mar 2024, up by 12.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in 98122; 57% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.