Is King County, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing King County is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, King County has remained a Seller's Market.

Key Takeaway

King County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in King County, WA cost?

Median Sold Price

$814,962

$508/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$77,682(+10.5%)

Key Takeaway

Homes in King County have sold for 10.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $389.8K$415.9K
+6.7%
2 $551.1K$615.6K
+11.7%
3 $730.1K$821.1K
+12.5%
4 $947.1K$1.1M
+16.5%
5+ $1.3M$1.3M
+7.7%

Median Sold Price Compared To Nearby Counties

Snohomish County
+17.2%
Chelan County
+17.0%
Pierce County
+12.7%
King County
+10.5%
Kittitas County
+9.4%

How many homes are available in King County, WA?

Number of Homes For Sale

Sep 2022Oct 2022%
8,2008,044-1.9%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 540545
+0.9%
2 1,6031,634
+1.9%
3 2,7222,614
-4.0%
4 2,3222,247
-3.2%
5+ 1,0131,004
-0.9%

Number of Homes Sold

Sep 2022Oct 2022%
2,4121,948-19.2%

Asking Price vs. Sold Price

981 Homes Were Sold
Under Asking

546 Homes Were Sold
At Asking

421 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in King County, you may be able to get a good deal. 50.4% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
16 Days30 Days+86.9%

Breakdown of Home Sale Times

1,214 Homes Were Sold
Under 30 Days

583 Homes Were Sold
In 30 - 90 Days

151 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in King County 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 King County, WA

Homes for sale in King County, WA have reached 8,044. Between September 2022 and October 2022, King County, WA real estate market has seen decrease in the number of listings by 1.9%. In October 2022 median list price was $814,962 and the average listing age was 30 days. This housing market listing prices have changed between September 2022 and October 2022: prices of 1 bedroom properties went up by 6.7%, 2 bedrooms properties became 11.7% more expensive, 3 bedrooms properties became 12.5% more expensive, the cost of 4 bedrooms properties went up by 16.5%, prices of 5 bedrooms properties went up by 7.7%. Housing inventory have changed in this real estate market: the quantity of 1 bedroom homes went up by 0.9%, number of 2 bedrooms homes increased by 1.9%, number of 3 bedrooms homes decreased by 4%, 4 bedrooms homes became 3.2% less available, the quantity of 5 bedrooms homes went down by 0.9%. In October 2022, from all listings sold in King County, WA there were more than 421 sold above asking price, over 981 sold below and more than 546 were sold right at the asked price.

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