Is 98029, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98029 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98029 has remained a Seller's Market.

Key Takeaway

98029 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98029, WA

How much do homes in 98029, WA cost?

Median Sold Price

$1,007,800

$576/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$61,022(+6.4%)

Key Takeaway

Homes in 98029 have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in 98029 was $1,007,800 in October 2024, up 6.4% from last year, and the median price per square foot was $576.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $380K$405K
+6.6%
2 $585K$625K
+6.8%
3 $954K$1.0M
+10.1%
4 $1.3M$1.5M
+16.5%
5+ $1.9M$2.1M
+7.5%

Summary: 98029 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 7.5%.

Median Sold Price Compared To Nearby Zip Codes

98027
+19.0%
98075
+8.7%
98029
+6.4%
98024
-3.7%

Housing Supply in 98029, WA

How many homes are available in 98029, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
118112-5.1%

Summary: The 98029 real estate market had 112 homes for sale in October 2024, a 5.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1213
+8.3%
2 4440
-9.1%
3 2826
-7.1%
4 2822
-21.4%
5+ 611
+83.3%

Summary: The 98029 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 83.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3142+35.5%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98029, you may be able to get a good deal. 40.5% of homes here sold below asking price last month.

Summary: A total of 42 homes were sold or pending in 98029 in October 2024, up by 35.5% month-over-month. Of the 42 sold homes, 40% were sold under asking, 21% were sold at asking, and 38% were sold over asking.

Days on Market for 98029, WA

How long does it take to sell a home in 98029, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days23 Days+57.1%

Summary: Homes in 98029 had an average of 23 days on market in Oct 2024, up by 57.1% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98029 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 42 homes were sold in 98029; 69% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 2% 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 13 Days Ago

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