Is 98501, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 98501 has remained a Seller's Market.
Key Takeaway
98501 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98501, WA
How much do homes in 98501, WA cost?
Median Sold Price
$544,000
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 98501 have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in 98501 was $544,000 in April 2024, up 3.5% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $299.9K | -4.8% |
| 2 Bedrooms | $389.8K | $390K | 0.0% |
| 3 Bedrooms | $510K | $518.5K | +1.7% |
| 4 Bedrooms | $612.5K | $620K | +1.2% |
| 5+ Bedrooms | $670K | $635K | -5.2% |
Summary: 98501 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes did not change, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 5.2%.
Housing Supply in 98501, WA
How many homes are available in 98501, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 118 | 144 | +22.0% |
Summary: The 98501 real estate market had 144 homes for sale in April 2024, a 22.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 13 | 22 | +69.2% |
| 3 Bedrooms | 54 | 66 | +22.2% |
| 4 Bedrooms | 35 | 39 | +11.4% |
| 5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The 98501 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 69.2%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 36 | +56.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98501, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in 98501 in April 2024, up by 56.5% month-over-month. Of the 36 sold homes, 22% were sold under asking, 28% were sold at asking, and 50% were sold over asking.
Days on Market for 98501, WA
How long does it take to sell a home in 98501, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 23 Days | -24.7% |
Summary: Homes in 98501 had an average of 23 days on market in Apr 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98501 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 36 homes were sold in 98501; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% 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.