Is 98296, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98296 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 98296 has remained a Seller's Market.

Key Takeaway

98296 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98296, WA

How much do homes in 98296, WA cost?

Median Sold Price

$997,725

$416/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$148,516(-13.0%)

Key Takeaway

Homes in 98296 have sold for 13% less than they did a year ago.

Summary: The median home sold price in 98296 was $997,725 in February 2024, down 13% from last year, and the median price per square foot was $416.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $375K$442.5K
+18.0%
2 $465K$450K
-3.2%
3 $945K$847K
-10.4%
4 $1.1M$1.0M
-10.6%
5+ $1.3M$1.1M
-13.8%

Summary: 98296 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes decreased by 10.4%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes decreased by 13.8%.

Median Sold Price Compared To Nearby Zip Codes

98072
0.0%
98012
-4.1%
98077
-8.5%
98208
-10.8%
98296
-13.0%

Housing Supply in 98296, WA

How many homes are available in 98296, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4748+2.1%

Summary: The 98296 real estate market had 48 homes for sale in February 2024, a 2.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 54
-20.0%
3 1310
-23.1%
4 1724
+41.2%
5+ 1210
-16.7%

Summary: The 98296 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1816-11.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98296, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 98296 in February 2024, down by 11.1% month-over-month. Of the 16 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% were sold over asking.

Days on Market for 98296, WA

How long does it take to sell a home in 98296, WA?

Average Sale Time

Feb 2023Feb 2024CHANGE
57 Days64 Days+13.4%

Summary: Homes in 98296 had an average of 64 days on market in Feb 2024, up by 13.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98296 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 16 homes were sold in 98296; 56% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in 98296, WA

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