Is 98408, 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, 98408 has remained a Seller's Market.
Key Takeaway
98408 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 98408, WA
How much do homes in 98408, WA cost?
Median Sold Price
$420,000
$293/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 98408 have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in 98408 was $420,000 in April 2024, up 2.3% from last year, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $298.4K | $350K | +17.3% |
| 2 Bedrooms | $369.2K | $370K | 0.2% |
| 3 Bedrooms | $422K | $425K | +0.7% |
| 4 Bedrooms | $485K | $480K | -1.0% |
| 5+ Bedrooms | $500K | $515K | +3.0% |
Summary: 98408 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.3%, 2 bedroom homes increased by 0.2%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 3%.
Housing Supply in 98408, WA
How many homes are available in 98408, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 74 | 94 | +27.0% |
Summary: The 98408 real estate market had 94 homes for sale in April 2024, a 27.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 12 | 18 | +50.0% |
| 3 Bedrooms | 40 | 47 | +17.5% |
| 4 Bedrooms | 16 | 20 | +25.0% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The 98408 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 17.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 27 | +17.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 98408, you could pay more than the asking price. 48.1% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 98408 in April 2024, up by 17.4% month-over-month. Of the 27 sold homes, 15% were sold under asking, 37% were sold at asking, and 48% were sold over asking.
Days on Market for 98408, WA
How long does it take to sell a home in 98408, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 8 Days | -71.3% |
Summary: Homes in 98408 had an average of 8 days on market in Apr 2024, down by 71.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 98408 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in 98408; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% 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.