Is University Place, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing University Place is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in University Place, WA cost?

Median Sold Price

$650,000

$332/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$60,500(+10.3%)

Key Takeaway

Homes in University Place have sold for 10.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $360K$235K
-34.7%
2 $360K$371.2K
+3.1%
3 $545K$615K
+12.8%
4 $660K$750K
+13.6%
5+ $750K$850K
+13.3%

Median Sold Price Compared To Nearby Cities

Fircrest
+15.7%
Lakewood
+13.8%
Steilacoom
+11.9%
Tacoma
+10.5%
University Place
+10.3%

How many homes are available in University Place, WA?

Number of Homes For Sale

Oct 2022Nov 2022%
8378-6.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 10
-100.0%
2 1215
+25.0%
3 3832
-15.8%
4 2624
-7.7%
5+ 67
+16.7%

Number of Homes Sold

Oct 2022Nov 2022%
2324+4.3%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in University Place, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
11 Days42 Days+284.5%

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About University Place, WA

University Place, WA has 78 homes for sale to choose from. Between October 2022 and November 2022, University Place, WA real estate market has seen decrease in the number of listings by 6%. Listings spent 42 days on the market in November 2022, and had a median list price of $650,000 during the same period. This housing market listing prices have changed between October 2022 and November 2022: 1 bedroom properties became 34.7% more cheaper, prices of 2 bedrooms properties increased by 3.1%, the cost of 3 bedrooms properties went up by 12.8%, 4 bedrooms properties prices increased by 13.6%, prices of 5 bedrooms properties went up by 13.3%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory decreased by 100%, 2 bedrooms homes inventory increased by 25%, number of 3 bedrooms homes decreased by 15.8%, 4 bedrooms homes inventory decreased by 7.7%, the quantity of 5 bedrooms homes went up by 16.7%. Over 7 listings were sold over their listed price in November 2022 in University Place, WA. In the same period over 14 listings were sold below the listed price and 3 listings were sold for the listed price.

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