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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Renton is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Renton, WA

How much do homes in Renton, WA cost?

Median Sold Price

$729,911

$384/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$54,911(+8.1%)

Key Takeaway

Homes in Renton have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Renton was $729,911 in March 2024, up 8.1% from last year, and the median price per square foot was $384.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $269.5K$275K
+2.0%
2 $410K$430K
+4.9%
3 $663K$675K
+1.8%
4 $850K$845.9K
-0.5%
5+ $1.0M$1.0M
-3.3%

Summary: Renton housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 3.3%.

Median Sold Price Compared To Nearby Cities

Renton
+8.1%
Kent
+4.2%
Seattle East
+4.0%
Newcastle
-9.0%

Housing Supply in Renton, WA

How many homes are available in Renton, WA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
231287+24.2%

Summary: The Renton real estate market had 287 homes for sale in March 2024, a 24.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 67
+16.7%
2 3848
+26.3%
3 92110
+19.6%
4 6879
+16.2%
5+ 2743
+59.3%

Summary: The Renton housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 59.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
7496+29.7%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

50 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Renton, you could pay more than the asking price. 52.1% of homes here sold above asking price last month.

Summary: A total of 96 homes were sold or pending in Renton in March 2024, up by 29.7% month-over-month. Of the 96 sold homes, 28% were sold under asking, 20% were sold at asking, and 52% were sold over asking.

Days on Market for Renton, WA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
31 Days32 Days+2.6%

Summary: Homes in Renton had an average of 32 days on market in Mar 2024, up by 2.6% compared to last year.

Breakdown of Home Sale Times

69 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 96 homes were sold in Renton; 72% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 14% 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 24 Days Ago

Newest Listings in Renton, WA

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