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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burien is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Burien, WA

How much do homes in Burien, WA cost?

Median Sold Price

$644,100

$402/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$20,900(-3.1%)

Key Takeaway

Homes in Burien have sold for 3.1% less than they did a year ago.

Summary: The median home sold price in Burien was $644,100 in May 2024, down 3.1% from last year, and the median price per square foot was $402.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $330K$267.5K
-18.9%
2 $499.9K$459.9K
-8.0%
3 $649.5K$635K
-2.2%
4 $772.2K$790K
+2.3%
5+ $990K$970K
-2.0%

Summary: Burien housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.9%, 2 bedroom homes decreased by 8%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 2%.

Median Sold Price Compared To Nearby Cities

Normandy Park
+26.3%
SeaTac
-2.4%
Burien
-3.1%

Housing Supply in Burien, WA

How many homes are available in Burien, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
109121+11.0%

Summary: The Burien real estate market had 121 homes for sale in May 2024, a 11.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 88
0.0%
2 2732
+18.5%
3 4347
+9.3%
4 2425
+4.2%
5+ 79
+28.6%

Summary: The Burien housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3727-27.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burien, you could pay more than the asking price. 63% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Burien in May 2024, down by 27.0% month-over-month. Of the 27 sold homes, 30% were sold under asking, 7% were sold at asking, and 63% were sold over asking.

Days on Market for Burien, WA

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

Average Sale Time

May 2023May 2024CHANGE
21 Days29 Days+33.9%

Summary: Homes in Burien had an average of 29 days on market in May 2024, up by 33.9% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 27 homes were sold in Burien; 81% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 11% 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 22 Days Ago

Newest Listings in Burien, WA

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