Is Tri-Area, 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, Tri-Area has remained a Seller's Market.
Housing Prices in Tri-Area, WA
How much do homes in Tri-Area, WA cost?
Median Sold Price
$550,000
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Tri-Area was $550,000 in March 2024, up 4.8% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $530K | $499.5K | -5.8% |
2 Bedrooms | $416.5K | $525K | +26.1% |
3 Bedrooms | $650K | $552.5K | -15.0% |
4 Bedrooms | - | $725K | N/A |
5+ Bedrooms | $475K | $600K | +26.3% |
Summary: Tri-Area housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.8%, 2 bedroom homes increased by 26.1%, 3 bedroom homes decreased by 15%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 26.3%.
Housing Supply in Tri-Area, WA
How many homes are available in Tri-Area, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 15 | -28.6% |
Summary: The Tri-Area real estate market had 15 homes for sale in March 2024, a 28.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 4 | -33.3% |
3 Bedrooms | 12 | 8 | -33.3% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Tri-Area housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 5 | -28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Tri-Area in March 2024, down by 28.6% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Tri-Area, WA
How long does it take to sell a home in Tri-Area, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
68 Days | 70 Days | +2.7% |
Summary: Homes in Tri-Area had an average of 70 days on market in Mar 2024, up by 2.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Tri-Area; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.