Is 98122, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 98122 has remained a Seller's Market.
Key Takeaway
98122 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98122, WA
How much do homes in 98122, WA cost?
Median Sold Price
$885,000
$625/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 98122 have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in 98122 was $885,000 in May 2024, up 2.7% from last year, and the median price per square foot was $625.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $449.5K | $382.5K | -14.9% |
| 2 Bedrooms | $708K | $730K | +3.1% |
| 3 Bedrooms | $988K | $1.0M | +1.2% |
| 4 Bedrooms | $1.4M | $1.4M | +5.4% |
| 5+ Bedrooms | $2.0M | $1.5M | -24.4% |
Summary: 98122 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.9%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 24.4%.
Housing Supply in 98122, WA
How many homes are available in 98122, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 121 | 152 | +25.6% |
Summary: The 98122 real estate market had 152 homes for sale in May 2024, a 25.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 36 | 45 | +25.0% |
| 2 Bedrooms | 30 | 37 | +23.3% |
| 3 Bedrooms | 34 | 43 | +26.5% |
| 4 Bedrooms | 17 | 19 | +11.8% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The 98122 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 23.3%, 3 bedroom homes increased by 26.5%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 32 | +3.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98122, expect to pay close to the asking price. 40.6% of homes here sold near the asking price last month.
Summary: A total of 32 homes were sold or pending in 98122 in May 2024, up by 3.2% month-over-month. Of the 32 sold homes, 31% were sold under asking, 41% were sold at asking, and 28% were sold over asking.
Days on Market for 98122, WA
How long does it take to sell a home in 98122, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 28 Days | -2.8% |
Summary: Homes in 98122 had an average of 28 days on market in May 2024, down by 2.8% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98122 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 32 homes were sold in 98122; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% 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.