Is 98020, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98020 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98020 has remained a Seller's Market.

Key Takeaway

98020 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98020, WA

How much do homes in 98020, WA cost?

Median Sold Price

$1,056,666

$578/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$75,000(+7.6%)

Key Takeaway

Homes in 98020 have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in 98020 was $1,056,666 in October 2024, up 7.6% from last year, and the median price per square foot was $578.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $575K$820K
+42.6%
2 $800K$782.5K
-2.2%
3 $1.0M$1.0M
-2.4%
4 $1.2M$1.4M
+18.8%
5+ $1.6M$1.7M
+3.7%

Summary: 98020 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.6%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 3.7%.

Median Sold Price Compared To Nearby Zip Codes

98026
+22.8%
98177
+14.1%
98020
+7.6%

Housing Supply in 98020, WA

How many homes are available in 98020, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7689+17.1%

Summary: The 98020 real estate market had 89 homes for sale in October 2024, a 17.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 1523
+53.3%
3 2528
+12.0%
4 2219
-13.6%
5+ 1418
+28.6%

Summary: The 98020 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 53.3%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2033+65.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98020, you may be able to get a good deal. 51.5% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in 98020 in October 2024, up by 65.0% month-over-month. Of the 33 sold homes, 52% were sold under asking, 21% were sold at asking, and 27% were sold over asking.

Days on Market for 98020, WA

How long does it take to sell a home in 98020, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days25 Days-2.5%

Summary: Homes in 98020 had an average of 25 days on market in Oct 2024, down by 2.5% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98020 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 33 homes were sold in 98020; 76% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 9% 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 98020, WA

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