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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sultan is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Sultan, WA

How much do homes in Sultan, WA cost?

Median Sold Price

$522,182

$266/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$25,425(-4.6%)

Key Takeaway

Homes in Sultan have sold for 4.6% less than they did a year ago.

Summary: The median home sold price in Sultan was $522,182 in February 2024, down 4.6% from last year, and the median price per square foot was $266.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $380K$284K
-25.3%
2 $325K$377.5K
+16.2%
3 $525.7K$500K
-4.9%
4 $598.7K$564.6K
-5.7%
5+ $603.9K$584.9K
-3.1%

Summary: Sultan housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.3%, 2 bedroom homes increased by 16.2%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 3.1%.

Housing Supply in Sultan, WA

How many homes are available in Sultan, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5647-16.1%

Summary: The Sultan real estate market had 47 homes for sale in February 2024, a 16.1% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 44
0.0%
3 2823
-17.9%
4 2317
-26.1%
5+ 13
+200.0%

Summary: The Sultan housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 17.9%, 4 bedroom homes decreased by 26.1%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1525+66.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sultan, expect to pay close to the asking price. 68% of homes here sold near the asking price last month.

Summary: A total of 25 homes were sold or pending in Sultan in February 2024, up by 66.7% month-over-month. Of the 25 sold homes, 20% were sold under asking, 68% were sold at asking, and 12% were sold over asking.

Days on Market for Sultan, WA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
79 Days21 Days-73.0%

Summary: Homes in Sultan had an average of 21 days on market in Feb 2024, down by 73% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 25 homes were sold in Sultan; 72% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 4% 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 4 Days Ago

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