Is Rainier, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rainier is a seller's market

Buyer's
Market

Difference Since November 2022

At the same time last year, Rainier was a Buyer's Market.

Key Takeaway

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

Housing Prices in Rainier, WA

How much do homes in Rainier, WA cost?

Median Sold Price

$485,000

$277/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$32,000(+7.1%)

Key Takeaway

Homes in Rainier have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Rainier was $485,000 in November 2023, up 7.1% from last year, and the median price per square foot was $277.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 -$253.5K
N/A
2 $352.5K$301K
-14.6%
3 $440K$509.9K
+15.9%
4 $527.5K$529.9K
0.5%
5+ --
N/A

Summary: Rainier housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.6%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Rainier
+7.1%
Thurston South
0.0%

Housing Supply in Rainier, WA

How many homes are available in Rainier, WA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
3328-15.2%

Summary: The Rainier real estate market had 28 homes for sale in November 2023, a 15.2% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 11
0.0%
2 46
+50.0%
3 2216
-27.3%
4 65
-16.7%
5+ 00
0.0%

Summary: The Rainier housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
76-14.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rainier, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Rainier in November 2023, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Rainier, WA

How long does it take to sell a home in Rainier, WA?

Average Sale Time

Nov 2022Nov 2023CHANGE
16 Days19 Days+22.9%

Summary: Homes in Rainier had an average of 19 days on market in Nov 2023, up by 22.9% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rainier are selling fast, if you're buying plan to act quickly.

Summary: During November 2023, 6 homes were sold in Rainier; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Rainier, WA

Nearby Markets to Rainier, WA

What housing markets are near Rainier, WA?