Is Renton, 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, 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
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
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $269.5K | $275K | +2.0% |
| 2 Bedrooms | $410K | $430K | +4.9% |
| 3 Bedrooms | $663K | $675K | +1.8% |
| 4 Bedrooms | $850K | $845.9K | -0.5% |
| 5+ Bedrooms | $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 | $674.9K | $729.9K | +8.1% |
| Kent | $604.6K | $630K | +4.2% |
| Seattle East | $1.1M | $1.1M | +4.0% |
| Newcastle | $1.4M | $1.3M | -9.0% |
Housing Supply in Renton, WA
How many homes are available in Renton, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 231 | 287 | +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
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 38 | 48 | +26.3% |
| 3 Bedrooms | 92 | 110 | +19.6% |
| 4 Bedrooms | 68 | 79 | +16.2% |
| 5+ Bedrooms | 27 | 43 | +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 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 96 | +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
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 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 32 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
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.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.