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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Steilacoom is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Steilacoom, WA

How much do homes in Steilacoom, WA cost?

Median Sold Price

$695,000

$333/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$55,000(-7.3%)

Key Takeaway

Homes in Steilacoom have sold for 7.3% less than they did a year ago.

Summary: The median home sold price in Steilacoom was $695,000 in March 2024, down 7.3% from last year, and the median price per square foot was $333.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $280K$380K
+35.7%
2 $356.5K$332.5K
-6.7%
3 $558.5K$677.5K
+21.3%
4 $807.5K$837.5K
+3.7%
5+ $1.0M$806K
-26.7%

Summary: Steilacoom housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.7%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 26.7%.

Median Sold Price Compared To Nearby Cities

Lakewood
+0.7%
University Place
-1.2%
Fort Lewis-DuPont
-4.3%
Steilacoom
-7.3%

Housing Supply in Steilacoom, WA

How many homes are available in Steilacoom, WA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2520-20.0%

Summary: The Steilacoom real estate market had 20 homes for sale in March 2024, a 20.0% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 20
-100.0%
2 55
0.0%
3 77
0.0%
4 76
-14.3%
5+ 42
-50.0%

Summary: The Steilacoom housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
880.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Steilacoom, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in Steilacoom in March 2024, the same as the previous month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.

Days on Market for Steilacoom, WA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
72 Days32 Days-55.4%

Summary: Homes in Steilacoom had an average of 32 days on market in Mar 2024, down by 55.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 8 homes were sold in Steilacoom; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% 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 11 Days Ago

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