Is 98607, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 98607 was a Seller's Market.
Housing Prices in 98607, WA
How much do homes in 98607, WA cost?
Median Sold Price
$743,333
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 98607 was $743,333 in March 2024, up 2.5% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $330K | - | N/A |
2 Bedrooms | $430K | $415K | -3.5% |
3 Bedrooms | $610K | $622K | +2.0% |
4 Bedrooms | $776.3K | $826.8K | +6.5% |
5+ Bedrooms | $950K | $916.5K | -3.5% |
Summary: 98607 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 3.5%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 3.5%.
Housing Supply in 98607, WA
How many homes are available in 98607, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
225 | 262 | +16.4% |
Summary: The 98607 real estate market had 262 homes for sale in March 2024, a 16.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 7 | 11 | +57.1% |
3 Bedrooms | 69 | 83 | +20.3% |
4 Bedrooms | 76 | 89 | +17.1% |
5+ Bedrooms | 70 | 76 | +8.6% |
Summary: The 98607 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 57.1%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 8.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 15 | -40.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in 98607 in March 2024, down by 40.0% month-over-month. Of the 15 sold homes, 53% were sold under asking, 13% were sold at asking, and 33% were sold over asking.
Days on Market for 98607, WA
How long does it take to sell a home in 98607, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 42 Days | -0.1% |
Summary: Homes in 98607 had an average of 42 days on market in Mar 2024, down by 0.1% compared to last year.
Breakdown of Home Sale Times
9 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, 15 homes were sold in 98607; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.