Is Federal Way, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2021
Since last year, Federal Way has remained a Seller's Market.
Key Takeaway
Federal Way is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Federal Way, WA cost?
Median Sold Price
$575,000
$324/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2021
+$60,272(+11.7%)
Key Takeaway
Homes in Federal Way have sold for 11.7% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Dec 2021 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | $195K | $229.9K | +17.9% |
| 2 Bedrooms | $275K | $315K | +14.5% |
| 3 Bedrooms | $495K | $550K | +11.1% |
| 4 Bedrooms | $615K | $675K | +9.8% |
| 5+ Bedrooms | $700K | $750K | +7.1% |
Median Sold Price Compared To Nearby Cities
| Federal Way | $514.7K | $575K | +11.7% |
| Auburn | $535.7K | $598.3K | +11.7% |
| Federal Way-Auburn | $520K | $565.7K | +8.8% |
| Des Moines | $541.6K | $574.4K | +6.1% |
How many homes are available in Federal Way, WA?
Number of Homes For Sale
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 231 | 180 | -22.1% |
Homes For Sale By Bedroom Count
| # BEDS | Nov 2022 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | 11 | 6 | -45.5% |
| 2 Bedrooms | 36 | 27 | -25.0% |
| 3 Bedrooms | 96 | 72 | -25.0% |
| 4 Bedrooms | 63 | 50 | -20.6% |
| 5+ Bedrooms | 25 | 25 | 0.0% |
Number of Homes Sold
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 81 | 49 | -39.5% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Federal Way, you may be able to get a good deal. 51% of homes here sold below asking price last month.
Average Sale Time
| Dec 2021 | Dec 2022 | % |
|---|---|---|
| 15 Days | 34 Days | +125.2% |
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Federal Way are selling fast, if you're buying plan to act quickly.
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 © 2023 Northwest MLS. All rights reserved.