Is 98198, 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, 98198 has remained a Seller's Market.
Key Takeaway
98198 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98198, WA
How much do homes in 98198, WA cost?
Median Sold Price
$562,816
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 98198 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 98198 was $562,816 in March 2024, up 1.7% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282.5K | $285K | +0.9% |
| 2 Bedrooms | $415K | $411.5K | -0.8% |
| 3 Bedrooms | $560K | $580.9K | +3.7% |
| 4 Bedrooms | $710K | $640K | -9.9% |
| 5+ Bedrooms | $849K | $785K | -7.5% |
Summary: 98198 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 9.9%, and 5+ bedroom homes decreased by 7.5%.
Housing Supply in 98198, WA
How many homes are available in 98198, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 87 | 87 | 0.0% |
Summary: The 98198 real estate market had 87 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 1 | -75.0% |
| 2 Bedrooms | 26 | 26 | 0.0% |
| 3 Bedrooms | 33 | 34 | +3.0% |
| 4 Bedrooms | 17 | 19 | +11.8% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The 98198 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 75%, 2 bedroom homes remained the same, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 11.8%, 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
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98198, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 98198 in March 2024, up by 4.5% month-over-month. Of the 23 sold homes, 26% were sold under asking, 22% were sold at asking, and 52% were sold over asking.
Days on Market for 98198, WA
How long does it take to sell a home in 98198, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 13 Days | -77.3% |
Summary: Homes in 98198 had an average of 13 days on market in Mar 2024, down by 77.3% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98198 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 23 homes were sold in 98198; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% 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.