Is 98503, 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, 98503 has remained a Seller's Market.
Housing Prices in 98503, WA
How much do homes in 98503, WA cost?
Median Sold Price
$466,000
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98503 was $466,000 in March 2024, down 1.9% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $452.2K | N/A |
2 Bedrooms | $350K | $390K | +11.4% |
3 Bedrooms | $461K | $450.6K | -2.2% |
4 Bedrooms | $517.4K | $530K | +2.4% |
5+ Bedrooms | $560K | $554K | -1.1% |
Summary: 98503 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 11.4%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 1.1%.
Housing Supply in 98503, WA
How many homes are available in 98503, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
71 | 78 | +9.9% |
Summary: The 98503 real estate market had 78 homes for sale in March 2024, a 9.9% increase 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 | 9 | -10.0% |
3 Bedrooms | 42 | 50 | +19.0% |
4 Bedrooms | 15 | 15 | 0.0% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 98503 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 decreased by 10%, 3 bedroom homes increased by 19%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 22 | -8.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in 98503 in March 2024, down by 8.3% month-over-month. Of the 22 sold homes, 32% were sold under asking, 27% were sold at asking, and 41% were sold over asking.
Days on Market for 98503, WA
How long does it take to sell a home in 98503, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 27 Days | -24.9% |
Summary: Homes in 98503 had an average of 27 days on market in Mar 2024, down by 24.9% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 22 homes were sold in 98503; 73% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.