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 August 2023

Since last year, Rainier has remained a Seller'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

$470,250

$283/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

-$4,750(-1.0%)

Key Takeaway

Homes in Rainier have sold for 1% less than they did a year ago.

Summary: The median home sold price in Rainier was $470,250 in August 2024, down 1% from last year, and the median price per square foot was $283.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $253.5K$373.5K
+47.3%
2 $260K$400K
+53.8%
3 $474.9K$485K
+2.1%
4 $529.9K$525K
-0.9%
5+ --
N/A

Summary: Rainier housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.3%, 2 bedroom homes increased by 53.8%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Thurston South
0.1%
Rainier
-1.0%

Housing Supply in Rainier, WA

How many homes are available in Rainier, WA?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
19190.0%

Summary: The Rainier real estate market had 19 homes for sale in August 2024, the same as July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 22
0.0%
2 21
-50.0%
3 1214
+16.7%
4 32
-33.3%
5+ 00
0.0%

Summary: The Rainier housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
29+350.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rainier, expect to pay close to the asking price. 77.8% of homes here sold near the asking price last month.

Summary: A total of 9 homes were sold or pending in Rainier in August 2024, up by 350.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 78% were sold at asking, and 0% 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

Aug 2023Aug 2024CHANGE
19 Days33 Days+68.9%

Summary: Homes in Rainier had an average of 33 days on market in Aug 2024, up by 68.9% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 August 2024, 9 homes were sold in Rainier; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 11% 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 9 Days Ago

Newest Listings in Rainier, WA

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