Is 98516, 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, 98516 has remained a Seller's Market.
Key Takeaway
98516 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98516, WA
How much do homes in 98516, WA cost?
Median Sold Price
$530,000
$280/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 98516 have sold for 6.4% less than they did a year ago.
Summary: The median home sold price in 98516 was $530,000 in March 2024, down 6.4% from last year, and the median price per square foot was $280.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $440K | - | N/A |
| 2 Bedrooms | $580K | $446K | -23.1% |
| 3 Bedrooms | $498.2K | $486.5K | -2.4% |
| 4 Bedrooms | $600K | $600K | 0.0% |
| 5+ Bedrooms | $675K | $625K | -7.4% |
Summary: 98516 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 decreased by 23.1%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 7.4%.
Housing Supply in 98516, WA
How many homes are available in 98516, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 132 | 121 | -8.3% |
Summary: The 98516 real estate market had 121 homes for sale in March 2024, a 8.3% decrease 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 | 19 | 15 | -21.1% |
| 3 Bedrooms | 50 | 50 | 0.0% |
| 4 Bedrooms | 54 | 48 | -11.1% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The 98516 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 21.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 | 39 | -11.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98516, you may be able to get a good deal. 35.9% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in 98516 in March 2024, down by 11.4% month-over-month. Of the 39 sold homes, 36% were sold under asking, 33% were sold at asking, and 31% were sold over asking.
Days on Market for 98516, WA
How long does it take to sell a home in 98516, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 25 Days | -17.3% |
Summary: Homes in 98516 had an average of 25 days on market in Mar 2024, down by 17.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98516 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 39 homes were sold in 98516; 77% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 10% 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.