Is King County, 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, King County has remained a Seller's Market.
Housing Prices in King County, WA
How much do homes in King County, WA cost?
Median Sold Price
$826,279
$501/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in King County was $826,279 in April 2024, up 3.1% from last year, and the median price per square foot was $501.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $409.9K | $410K | 0.0% |
2 Bedrooms | $596.8K | $620.1K | +3.9% |
3 Bedrooms | $799.9K | $821.4K | +2.7% |
4 Bedrooms | $1.0M | $1.1M | +4.8% |
5+ Bedrooms | $1.3M | $1.4M | +7.2% |
Summary: King County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Counties
King County | $801.7K | $826.2K | +3.1% |
Pierce County | $530.1K | $530.6K | 0.1% |
Snohomish County | $704.2K | $702.4K | -0.3% |
Kittitas County | $535K | $531.6K | -0.6% |
Chelan County | $551.5K | $540.5K | -2.0% |
Housing Supply in King County, WA
How many homes are available in King County, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6,159 | 7,248 | +17.7% |
Summary: The King County real estate market had 7,248 homes for sale in April 2024, a 17.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 533 | 637 | +19.5% |
2 Bedrooms | 1,440 | 1,686 | +17.1% |
3 Bedrooms | 1,902 | 2,218 | +16.6% |
4 Bedrooms | 1,518 | 1,827 | +20.4% |
5+ Bedrooms | 766 | 880 | +14.9% |
Summary: The King County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 14.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,018 | 2,250 | +11.5% |
Asking Price vs. Sold Price
564 Homes Were Sold
Under Asking
632 Homes Were Sold
At Asking
1,054 Homes Were Sold
Over Asking
Summary: A total of 2,250 homes were sold or pending in King County in April 2024, up by 11.5% month-over-month. Of the 2,250 sold homes, 25% were sold under asking, 28% were sold at asking, and 47% were sold over asking.
Days on Market for King County, WA
How long does it take to sell a home in King County, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
26 Days | 21 Days | -19.8% |
Summary: Homes in King County had an average of 21 days on market in Apr 2024, down by 19.8% compared to last year.
Breakdown of Home Sale Times
1,872 Homes Were Sold
Under 30 Days
228 Homes Were Sold
In 30 - 90 Days
150 Homes Were Sold
Over 90 Days
Summary: During April 2024, 2250 homes were sold in King County; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.