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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Federal Way-Auburn is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Federal Way-Auburn has remained a Seller's Market.

Key Takeaway

Federal Way-Auburn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Federal Way-Auburn, WA

How much do homes in Federal Way-Auburn, WA cost?

Median Sold Price

$556,205

$322/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,455(+2.1%)

Key Takeaway

Homes in Federal Way-Auburn have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in Federal Way-Auburn was $556,205 in May 2024, up 2.1% from last year, and the median price per square foot was $322.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $219.9K$220.5K
0.2%
2 $335K$335K
0.0%
3 $518.8K$541.5K
+4.4%
4 $649.9K$668.5K
+2.8%
5+ $725K$750K
+3.4%

Summary: Federal Way-Auburn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes did not change, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 3.4%.

Median Sold Price Compared To Nearby Cities

Federal Way
+4.7%
Federal Way-Auburn
+2.1%
Pacific
+1.9%
Algona
+0.8%
Auburn
-1.0%

Housing Supply in Federal Way-Auburn, WA

How many homes are available in Federal Way-Auburn, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
408501+22.8%

Summary: The Federal Way-Auburn real estate market had 501 homes for sale in May 2024, a 22.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1315
+15.4%
2 6073
+21.7%
3 163199
+22.1%
4 117157
+34.2%
5+ 5557
+3.6%

Summary: The Federal Way-Auburn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 21.7%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 34.2%, and 5+ bedroom homes increased by 3.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
112127+13.4%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

38 Homes Were Sold
At Asking

65 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Federal Way-Auburn, you could pay more than the asking price. 51.2% of homes here sold above asking price last month.

Summary: A total of 127 homes were sold or pending in Federal Way-Auburn in May 2024, up by 13.4% month-over-month. Of the 127 sold homes, 19% were sold under asking, 30% were sold at asking, and 51% were sold over asking.

Days on Market for Federal Way-Auburn, WA

How long does it take to sell a home in Federal Way-Auburn, WA?

Average Sale Time

May 2023May 2024CHANGE
20 Days17 Days-16.2%

Summary: Homes in Federal Way-Auburn had an average of 17 days on market in May 2024, down by 16.2% compared to last year.

Breakdown of Home Sale Times

108 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 127 homes were sold in Federal Way-Auburn; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% 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 23 Days Ago

Newest Listings in Federal Way-Auburn, WA

Nearby Markets to Federal Way-Auburn, WA

What housing markets are near Federal Way-Auburn, WA?