Is 98405, 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, 98405 has remained a Seller's Market.
Key Takeaway
98405 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98405, WA
How much do homes in 98405, WA cost?
Median Sold Price
$436,333
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 98405 have sold for 3% less than they did a year ago.
Summary: The median home sold price in 98405 was $436,333 in March 2024, down 3% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $330K | +24.5% |
| 2 Bedrooms | $394.5K | $396.2K | 0.4% |
| 3 Bedrooms | $450.3K | $446K | -1.0% |
| 4 Bedrooms | $538.5K | $497.4K | -7.6% |
| 5+ Bedrooms | $530K | $525K | -0.9% |
Summary: 98405 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.5%, 2 bedroom homes increased by 0.4%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes decreased by 0.9%.
Housing Supply in 98405, WA
How many homes are available in 98405, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 55 | -20.3% |
Summary: The 98405 real estate market had 55 homes for sale in March 2024, a 20.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 16 | 12 | -25.0% |
| 3 Bedrooms | 29 | 25 | -13.8% |
| 4 Bedrooms | 19 | 12 | -36.8% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 98405 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes decreased by 36.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 19 | -42.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98405, you may be able to get a good deal. 36.8% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 98405 in March 2024, down by 42.4% month-over-month. Of the 19 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% were sold over asking.
Days on Market for 98405, WA
How long does it take to sell a home in 98405, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 26 Days | 25 Days | -4.4% |
Summary: Homes in 98405 had an average of 25 days on market in Mar 2024, down by 4.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98405 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 19 homes were sold in 98405; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% 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.