Is Federal Way, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Federal Way is a 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

# BEDSDec 2021Dec 2022%
1 $195K$229.9K
+17.9%
2 $275K$315K
+14.5%
3 $495K$550K
+11.1%
4 $615K$675K
+9.8%
5+ $700K$750K
+7.1%

Median Sold Price Compared To Nearby Cities

Federal Way
+11.7%
Auburn
+11.7%
Federal Way-Auburn
+8.8%
Des Moines
+6.1%

How many homes are available in Federal Way, WA?

Number of Homes For Sale

Nov 2022Dec 2022%
231180-22.1%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 116
-45.5%
2 3627
-25.0%
3 9672
-25.0%
4 6350
-20.6%
5+ 2525
0.0%

Number of Homes Sold

Nov 2022Dec 2022%
8149-39.5%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 2021Dec 2022%
15 Days34 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

Breakdown of Home Sale Times

Key Takeaway

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

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

About Federal Way, WA

Federal Way, WA has 180 homes for sale to choose from. The number of homes for sale in Federal Way, WA decreased by 22.1% between November 2022 and December 2022. Listings spent 34 days on the market in December 2022, and had a median list price of $575,000 during the same period. This housing market listing prices have changed between November 2022 and December 2022: 1 bedroom properties prices increased by 17.9%, prices of 2 bedrooms properties increased by 14.5%, 3 bedrooms properties prices increased by 11.1%, the cost of 4 bedrooms properties went up by 9.8%, 5 bedrooms properties prices increased by 7.1%. Housing inventory have changed in this real estate market: 1 bedroom homes became 45.5% less available, 2 bedrooms homes became 25% less available, the quantity of 3 bedrooms homes went down by 25%, the quantity of 4 bedrooms homes went down by 20.6%, 5 bedrooms homes inventory did not change. Over 13 listings were sold over their listed price in December 2022 in Federal Way, WA. In the same period over 25 listings were sold below the listed price and 11 listings were sold for the listed price.

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