Is 98248, 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, 98248 has remained a Seller's Market.
Key Takeaway
98248 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98248, WA
How much do homes in 98248, WA cost?
Median Sold Price
$579,333
$328/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 98248 have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in 98248 was $579,333 in March 2024, up 2.5% from last year, and the median price per square foot was $328.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | - | N/A |
| 2 Bedrooms | $430K | $441.1K | +2.6% |
| 3 Bedrooms | $548.4K | $545K | -0.6% |
| 4 Bedrooms | $674K | $670K | -0.6% |
| 5+ Bedrooms | $673.4K | $755K | +12.1% |
Summary: 98248 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 12.1%.
Housing Supply in 98248, WA
How many homes are available in 98248, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 71 | 70 | -1.4% |
Summary: The 98248 real estate market had 70 homes for sale in March 2024, a 1.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 32 | 29 | -9.4% |
| 4 Bedrooms | 24 | 25 | +4.2% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 98248 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 25 | +56.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98248, you may be able to get a good deal. 36% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in 98248 in March 2024, up by 56.3% month-over-month. Of the 25 sold homes, 36% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market for 98248, WA
How long does it take to sell a home in 98248, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 49 Days | -13.9% |
Summary: Homes in 98248 had an average of 49 days on market in Mar 2024, down by 13.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98248 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 98248; 56% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 20% 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.