Is Renton, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Renton has remained a Seller's Market.
Housing Prices in Renton, WA
How much do homes in Renton, WA cost?
Median Sold Price
$740,000
$389/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Renton was $740,000 in May 2024, up 9.6% from last year, and the median price per square foot was $389.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $269.5K | $270.2K | 0.3% |
2 Bedrooms | $407.5K | $435K | +6.7% |
3 Bedrooms | $650K | $689.5K | +6.1% |
4 Bedrooms | $810K | $860K | +6.2% |
5+ Bedrooms | $1.0M | $1.0M | +1.1% |
Summary: Renton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 1.1%.
Median Sold Price Compared To Nearby Cities
Newcastle | $1.3M | $1.5M | +13.9% |
Seattle East | $1.0M | $1.2M | +12.2% |
Renton | $674.9K | $740K | +9.6% |
Kent | $599.9K | $644.6K | +7.4% |
Housing Supply in Renton, WA
How many homes are available in Renton, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
334 | 414 | +24.0% |
Summary: The Renton real estate market had 414 homes for sale in May 2024, a 24.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 8 | -11.1% |
2 Bedrooms | 61 | 74 | +21.3% |
3 Bedrooms | 121 | 154 | +27.3% |
4 Bedrooms | 94 | 129 | +37.2% |
5+ Bedrooms | 49 | 49 | 0.0% |
Summary: The Renton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 37.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
110 | 147 | +33.6% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
83 Homes Were Sold
Over Asking
Summary: A total of 147 homes were sold or pending in Renton in May 2024, up by 33.6% month-over-month. Of the 147 sold homes, 16% were sold under asking, 27% were sold at asking, and 56% were sold over asking.
Days on Market for Renton, WA
How long does it take to sell a home in Renton, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 9 Days | -34.6% |
Summary: Homes in Renton had an average of 9 days on market in May 2024, down by 34.6% compared to last year.
Breakdown of Home Sale Times
141 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 147 homes were sold in Renton; 96% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.