Is King County, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing King County is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, King County has remained a Seller's Market.

Key Takeaway

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

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

+$24,537(+3.1%)

Key Takeaway

Homes in King County have sold for 3.1% more than they did a year ago.

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

# BEDSApr 2023Apr 2024CHANGE
1 $409.9K$410K
0.0%
2 $596.8K$620.1K
+3.9%
3 $799.9K$821.4K
+2.7%
4 $1.0M$1.1M
+4.8%
5+ $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
+3.1%
Pierce County
0.1%
Snohomish County
-0.3%
Kittitas County
-0.6%
Chelan County
-2.0%

Housing Supply in King County, WA

How many homes are available in King County, WA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6,1597,248+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

# BEDSMar 2024Apr 2024CHANGE
1 533637
+19.5%
2 1,4401,686
+17.1%
3 1,9022,218
+16.6%
4 1,5181,827
+20.4%
5+ 766880
+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 2024Apr 2024CHANGE
2,0182,250+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in King County, you could pay more than the asking price. 46.8% of homes here sold above asking price last month.

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 2023Apr 2024CHANGE
26 Days21 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 1 Day Ago

Newest Listings in King County, WA

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