Is 98037, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98037 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98037 has remained a Seller's Market.

Key Takeaway

98037 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98037, WA

How much do homes in 98037, WA cost?

Median Sold Price

$807,333

$446/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$74,333(+10.1%)

Key Takeaway

Homes in 98037 have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in 98037 was $807,333 in October 2024, up 10.1% from last year, and the median price per square foot was $446.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $255K$260K
+2.0%
2 $370K$475K
+28.4%
3 $700K$730K
+4.3%
4 $816.5K$850K
+4.1%
5+ $950K$1.2M
+34.8%

Summary: 98037 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 28.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 34.8%.

Median Sold Price Compared To Nearby Zip Codes

98026
+22.8%
98012
+10.9%
98037
+10.1%
98036
+6.7%
98087
+3.5%

Housing Supply in 98037, WA

How many homes are available in 98037, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
124116-6.5%

Summary: The 98037 real estate market had 116 homes for sale in October 2024, a 6.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1312
-7.7%
3 3934
-12.8%
4 3734
-8.1%
5+ 3536
+2.9%

Summary: The 98037 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 7.7%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes increased by 2.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3229-9.4%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98037, you may be able to get a good deal. 34.5% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in 98037 in October 2024, down by 9.4% month-over-month. Of the 29 sold homes, 34% were sold under asking, 31% were sold at asking, and 34% were sold over asking.

Days on Market for 98037, WA

How long does it take to sell a home in 98037, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days22 Days-8.7%

Summary: Homes in 98037 had an average of 22 days on market in Oct 2024, down by 8.7% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98037 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 29 homes were sold in 98037; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% 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 11 Days Ago

Newest Listings in 98037, WA

Nearby Markets to 98037, WA