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 September 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

$573,417

$321/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$27,223(+5.0%)

Key Takeaway

Homes in Federal Way-Auburn have sold for 5% more than they did a year ago.

Summary: The median home sold price in Federal Way-Auburn was $573,417 in September 2024, up 5% from last year, and the median price per square foot was $321.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $220K$230K
+4.5%
2 $333.3K$335K
0.5%
3 $525K$549.9K
+4.7%
4 $649.9K$674K
+3.7%
5+ $719.9K$760K
+5.6%

Summary: Federal Way-Auburn housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 5.6%.

Median Sold Price Compared To Nearby Cities

Federal Way
+7.8%
Federal Way-Auburn
+5.0%
Algona
+4.0%
Auburn
-0.9%
Pacific
-3.2%

Housing Supply in Federal Way-Auburn, WA

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

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6166180.3%

Summary: The Federal Way-Auburn real estate market had 618 homes for sale in September 2024, a 0.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 2218
-18.2%
2 99108
+9.1%
3 258272
+5.4%
4 167159
-4.8%
5+ 7061
-12.9%

Summary: The Federal Way-Auburn housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 12.9%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
139144+3.6%

Asking Price vs. Sold Price

60 Homes Were Sold
Under Asking

37 Homes Were Sold
At Asking

47 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Federal Way-Auburn, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 144 homes were sold or pending in Federal Way-Auburn in September 2024, up by 3.6% month-over-month. Of the 144 sold homes, 42% were sold under asking, 26% were sold at asking, and 33% 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

Sep 2023Sep 2024CHANGE
21 Days37 Days+74.7%

Summary: Homes in Federal Way-Auburn had an average of 37 days on market in Sep 2024, up by 74.7% compared to last year.

Breakdown of Home Sale Times

80 Homes Were Sold
Under 30 Days

49 Homes Were Sold
In 30 - 90 Days

15 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 September 2024, 144 homes were sold in Federal Way-Auburn; 56% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 10% 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 30 Days Ago

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