Is Federal Way, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Federal Way has remained a Seller's Market.
Housing Prices in Federal Way, WA
How much do homes in Federal Way, WA cost?
Median Sold Price
$590,000
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Federal Way was $590,000 in June 2024, up 7.6% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $227K | $228K | 0.4% |
2 Bedrooms | $320K | $319.5K | -0.2% |
3 Bedrooms | $529.6K | $555.5K | +4.9% |
4 Bedrooms | $650K | $700K | +7.7% |
5+ Bedrooms | $724.9K | $754.5K | +4.1% |
Summary: Federal Way housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.4%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 4.1%.
Median Sold Price Compared To Nearby Cities
Milton | $527K | $590K | +12.0% |
Federal Way | $548.5K | $590K | +7.6% |
Des Moines | $555K | $587K | +5.8% |
Federal Way-Auburn | $540K | $565.4K | +4.7% |
Auburn | $594.3K | $595K | 0.1% |
Housing Supply in Federal Way, WA
How many homes are available in Federal Way, WA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
286 | 291 | +1.7% |
Summary: The Federal Way real estate market had 291 homes for sale in June 2024, a 1.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 15 | +25.0% |
2 Bedrooms | 42 | 43 | +2.4% |
3 Bedrooms | 104 | 114 | +9.6% |
4 Bedrooms | 87 | 78 | -10.3% |
5+ Bedrooms | 41 | 41 | 0.0% |
Summary: The Federal Way housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
79 | 64 | -19.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 64 homes were sold or pending in Federal Way in June 2024, down by 19.0% month-over-month. Of the 64 sold homes, 34% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Federal Way, WA
How long does it take to sell a home in Federal Way, WA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
11 Days | 15 Days | +34.9% |
Summary: Homes in Federal Way had an average of 15 days on market in Jun 2024, up by 34.9% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 64 homes were sold in Federal Way; 86% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.