Is 98012, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98012 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98012 has remained a Seller's Market.

Key Takeaway

98012 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98012, WA

How much do homes in 98012, WA cost?

Median Sold Price

$1,001,866

$473/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$98,694(+10.9%)

Key Takeaway

Homes in 98012 have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in 98012 was $1,001,866 in October 2024, up 10.9% from last year, and the median price per square foot was $473.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $312.5K$325K
+4.0%
2 $568.4K$560.5K
-1.4%
3 $820.7K$844K
+2.8%
4 $991.6K$1.1M
+18.5%
5+ $1.2M$1.3M
+8.2%

Summary: 98012 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes increased by 8.2%.

Median Sold Price Compared To Nearby Zip Codes

98208
+13.6%
98012
+10.9%
98296
+5.7%
98087
+3.5%
98021
-3.2%

Housing Supply in 98012, WA

How many homes are available in 98012, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
250244-2.4%

Summary: The 98012 real estate market had 244 homes for sale in October 2024, a 2.4% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 4038
-5.0%
3 9098
+8.9%
4 8174
-8.6%
5+ 3934
-12.8%

Summary: The 98012 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes decreased by 12.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
7581+8.0%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98012, you may be able to get a good deal. 49.4% of homes here sold below asking price last month.

Summary: A total of 81 homes were sold or pending in 98012 in October 2024, up by 8.0% month-over-month. Of the 81 sold homes, 49% were sold under asking, 28% were sold at asking, and 22% were sold over asking.

Days on Market for 98012, WA

How long does it take to sell a home in 98012, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days24 Days+24.7%

Summary: Homes in 98012 had an average of 24 days on market in Oct 2024, up by 24.7% compared to last year.

Breakdown of Home Sale Times

55 Homes Were Sold
Under 30 Days

26 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98012 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 81 homes were sold in 98012; 68% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% 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 22 Days Ago

Newest Listings in 98012, WA

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