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 June 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

$565,425

$321/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$25,425(+4.7%)

Key Takeaway

Homes in Federal Way-Auburn have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Federal Way-Auburn was $565,425 in June 2024, up 4.7% from last year, and the median price per square foot was $321.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $220K$225K
+2.3%
2 $335K$335K
0.0%
3 $511.4K$549.9K
+7.5%
4 $639.9K$671.7K
+5.0%
5+ $720K$750K
+4.2%

Summary: Federal Way-Auburn housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.3%, 2 bedroom homes did not change, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 4.2%.

Median Sold Price Compared To Nearby Cities

Federal Way
+7.6%
Federal Way-Auburn
+4.7%
Auburn
0.1%
Pacific
-3.8%

Housing Supply in Federal Way-Auburn, WA

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

Number of Homes For Sale

May 2024Jun 2024CHANGE
501538+7.4%

Summary: The Federal Way-Auburn real estate market had 538 homes for sale in June 2024, a 7.4% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 1519
+26.7%
2 7274
+2.8%
3 201213
+6.0%
4 156170
+9.0%
5+ 5762
+8.8%

Summary: The Federal Way-Auburn housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.7%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 8.8%.

Number of Homes Sold

May 2024Jun 2024CHANGE
139124-10.8%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

42 Homes Were Sold
At Asking

40 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. 33.9% of homes here sold below asking price last month.

Summary: A total of 124 homes were sold or pending in Federal Way-Auburn in June 2024, down by 10.8% month-over-month. Of the 124 sold homes, 34% were sold under asking, 34% were sold at asking, and 32% 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

Jun 2023Jun 2024CHANGE
15 Days19 Days+27.2%

Summary: Homes in Federal Way-Auburn had an average of 19 days on market in Jun 2024, up by 27.2% compared to last year.

Breakdown of Home Sale Times

103 Homes Were Sold
Under 30 Days

16 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-Auburn are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 124 homes were sold in Federal Way-Auburn; 83% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% 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 26 Days Ago

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