Is King County, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, King County has remained a Seller's Market.
Housing Prices in King County, WA
How much do homes in King County, WA cost?
Median Sold Price
$816,581
$496/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in King County was $816,581 in March 2024, up 0.2% from last year, and the median price per square foot was $496.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $410.1K | $409.6K | -0.1% |
2 Bedrooms | $599.9K | $613.1K | +2.2% |
3 Bedrooms | $809.1K | $812.5K | 0.4% |
4 Bedrooms | $1.0M | $1.1M | +0.6% |
5+ Bedrooms | $1.4M | $1.4M | +6.8% |
Summary: King County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.1%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Counties
King County | $814.6K | $816.5K | 0.2% |
Pierce County | $535.2K | $528.9K | -1.2% |
Kittitas County | $535.7K | $528.4K | -1.4% |
Snohomish County | $718.4K | $700K | -2.6% |
Chelan County | $554.5K | $539.9K | -2.6% |
Housing Supply in King County, WA
How many homes are available in King County, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5,327 | 6,343 | +19.1% |
Summary: The King County real estate market had 6,343 homes for sale in March 2024, a 19.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 465 | 567 | +21.9% |
2 Bedrooms | 1,279 | 1,499 | +17.2% |
3 Bedrooms | 1,662 | 1,973 | +18.7% |
4 Bedrooms | 1,259 | 1,535 | +21.9% |
5+ Bedrooms | 662 | 769 | +16.2% |
Summary: The King County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.9%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 16.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,585 | 1,937 | +22.2% |
Asking Price vs. Sold Price
527 Homes Were Sold
Under Asking
604 Homes Were Sold
At Asking
806 Homes Were Sold
Over Asking
Summary: A total of 1,937 homes were sold or pending in King County in March 2024, up by 22.2% month-over-month. Of the 1,937 sold homes, 27% were sold under asking, 31% were sold at asking, and 42% were sold over asking.
Days on Market for King County, WA
How long does it take to sell a home in King County, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 28 Days | -31.0% |
Summary: Homes in King County had an average of 28 days on market in Mar 2024, down by 31% compared to last year.
Breakdown of Home Sale Times
1,501 Homes Were Sold
Under 30 Days
235 Homes Were Sold
In 30 - 90 Days
201 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1937 homes were sold in King County; 77% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.