Is 98531, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98531 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 98531 has remained a Seller's Market.

Key Takeaway

98531 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98531, WA

How much do homes in 98531, WA cost?

Median Sold Price

$370,000

$249/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$2,333(+0.6%)

Key Takeaway

Homes in 98531 have sold for 0.6% more than they did a year ago.

Summary: The median home sold price in 98531 was $370,000 in March 2024, up 0.6% from last year, and the median price per square foot was $249.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $235K$387K
+64.7%
2 $305K$322.5K
+5.7%
3 $376.7K$389K
+3.3%
4 $480K$400K
-16.7%
5+ $484K$495.5K
+2.4%

Summary: 98531 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.7%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 2.4%.

Median Sold Price Compared To Nearby Zip Codes

98532
+1.7%
98531
+0.6%
98589
0.0%
98579
-0.4%

Housing Supply in 98531, WA

How many homes are available in 98531, WA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6675+13.6%

Summary: The 98531 real estate market had 75 homes for sale in March 2024, a 13.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1215
+25.0%
3 4144
+7.3%
4 1114
+27.3%
5+ 22
0.0%

Summary: The 98531 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 25%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1514-6.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98531, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 98531 in March 2024, down by 6.7% month-over-month. Of the 14 sold homes, 64% were sold under asking, 14% were sold at asking, and 21% were sold over asking.

Days on Market for 98531, WA

How long does it take to sell a home in 98531, WA?

Average Sale Time

Mar 2023Mar 2024CHANGE
35 Days58 Days+66.2%

Summary: Homes in 98531 had an average of 58 days on market in Mar 2024, up by 66.2% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98531 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 14 homes were sold in 98531; 57% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

Newest Listings in 98531, WA

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