Is 98816, 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, 98816 was a Seller's Market.
Key Takeaway
98816 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 98816, WA
How much do homes in 98816, WA cost?
Median Sold Price
$597,950
$436/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 98816 has remained the same since last year.
Summary: The median home sold price in 98816 was $597,950 in March 2024, down 0.3% from last year, and the median price per square foot was $436.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $370K | $441K | +19.2% |
| 2 Bedrooms | $525K | $527.5K | 0.5% |
| 3 Bedrooms | $675K | $667.5K | -1.1% |
| 4 Bedrooms | $1.2M | $1.4M | +22.6% |
| 5+ Bedrooms | $1.2M | $625K | -51.8% |
Summary: 98816 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.2%, 2 bedroom homes increased by 0.5%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes decreased by 51.8%.
Median Sold Price Compared To Nearby Zip Codes
| 98831 | $720K | $787K | +9.3% |
| 98816 | $600K | $597.9K | -0.3% |
Housing Supply in 98816, WA
How many homes are available in 98816, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 63 | +70.3% |
Summary: The 98816 real estate market had 63 homes for sale in March 2024, a 70.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 10 | +150.0% |
| 2 Bedrooms | 15 | 20 | +33.3% |
| 3 Bedrooms | 10 | 22 | +120.0% |
| 4 Bedrooms | 6 | 10 | +66.7% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 98816 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 120%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98816, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 98816 in March 2024, up by 133.3% month-over-month. Of the 7 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for 98816, WA
How long does it take to sell a home in 98816, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 138 Days | +179.9% |
Summary: Homes in 98816 had an average of 138 days on market in Mar 2024, up by 179.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 98816 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 7 homes were sold in 98816; 0% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 86% 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.