Is 98406, 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, 98406 has remained a Seller's Market.
Housing Prices in 98406, WA
How much do homes in 98406, WA cost?
Median Sold Price
$575,000
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98406 was $575,000 in March 2024, down 2.8% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $342.5K | $353.5K | +3.2% |
2 Bedrooms | $450K | $392K | -12.9% |
3 Bedrooms | $589K | $575K | -2.4% |
4 Bedrooms | $685K | $707.5K | +3.3% |
5+ Bedrooms | $792.5K | $755K | -4.7% |
Summary: 98406 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes decreased by 12.9%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 4.7%.
Housing Supply in 98406, WA
How many homes are available in 98406, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
63 | 72 | +14.3% |
Summary: The 98406 real estate market had 72 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 9 | 13 | +44.4% |
3 Bedrooms | 29 | 33 | +13.8% |
4 Bedrooms | 15 | 15 | 0.0% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 98406 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 44.4%, 3 bedroom homes increased by 13.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 27 | +35.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in 98406 in March 2024, up by 35.0% month-over-month. Of the 27 sold homes, 30% were sold under asking, 30% were sold at asking, and 41% were sold over asking.
Days on Market for 98406, WA
How long does it take to sell a home in 98406, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
37 Days | 38 Days | +3.3% |
Summary: Homes in 98406 had an average of 38 days on market in Mar 2024, up by 3.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 27 homes were sold in 98406; 70% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.