Is 98407, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 98407 has remained a Seller's Market.
Housing Prices in 98407, WA
How much do homes in 98407, WA cost?
Median Sold Price
$651,666
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 98407 was $651,666 in April 2024, up 6.8% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $485K | $403.7K | -16.7% |
2 Bedrooms | $477.5K | $560K | +17.3% |
3 Bedrooms | $580.9K | $630.2K | +8.5% |
4 Bedrooms | $729K | $750K | +2.9% |
5+ Bedrooms | $999.9K | $825K | -17.5% |
Summary: 98407 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 17.5%.
Housing Supply in 98407, WA
How many homes are available in 98407, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
66 | 83 | +25.8% |
Summary: The 98407 real estate market had 83 homes for sale in April 2024, a 25.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 19 | 19 | 0.0% |
3 Bedrooms | 23 | 36 | +56.5% |
4 Bedrooms | 15 | 17 | +13.3% |
5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The 98407 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 56.5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 35 | +118.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in 98407 in April 2024, up by 118.8% month-over-month. Of the 35 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% were sold over asking.
Days on Market for 98407, WA
How long does it take to sell a home in 98407, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 43 Days | +40.7% |
Summary: Homes in 98407 had an average of 43 days on market in Apr 2024, up by 40.7% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 35 homes were sold in 98407; 74% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.