Is University Place, 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, University Place has remained a Seller's Market.
Housing Prices in University Place, WA
How much do homes in University Place, WA cost?
Median Sold Price
$639,716
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in University Place was $639,716 in April 2024, up 1.9% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $236.5K | $267.5K | +13.1% |
2 Bedrooms | $409.3K | $412.5K | +0.8% |
3 Bedrooms | $605.5K | $630K | +4.0% |
4 Bedrooms | $735K | $686.2K | -6.6% |
5+ Bedrooms | $850K | $825K | -2.9% |
Summary: University Place housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
University Place | $627.5K | $639.7K | +1.9% |
Fircrest | $608K | $615K | +1.2% |
Tacoma | $458.2K | $463.1K | +1.1% |
Lakewood | $489.8K | $494.2K | +0.9% |
Steilacoom | $692K | $658.5K | -4.8% |
Housing Supply in University Place, WA
How many homes are available in University Place, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
79 | 95 | +20.3% |
Summary: The University Place real estate market had 95 homes for sale in April 2024, a 20.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 23 | 28 | +21.7% |
3 Bedrooms | 28 | 35 | +25.0% |
4 Bedrooms | 22 | 22 | 0.0% |
5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The University Place 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 increased by 21.7%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 31 | +29.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in University Place in April 2024, up by 29.2% month-over-month. Of the 31 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% were sold over asking.
Days on Market for University Place, WA
How long does it take to sell a home in University Place, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
23 Days | 25 Days | +8.3% |
Summary: Homes in University Place had an average of 25 days on market in Apr 2024, up by 8.3% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 31 homes were sold in University Place; 81% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.