Is 98047, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98047 is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, 98047 has remained a Seller's Market.

Key Takeaway

98047 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98047, WA

How much do homes in 98047, WA cost?

Median Sold Price

$530,000

$345/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$30,000(-5.4%)

Key Takeaway

Homes in 98047 have sold for 5.4% less than they did a year ago.

Summary: The median home sold price in 98047 was $530,000 in December 2024, down 5.4% from last year, and the median price per square foot was $345.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$285K
N/A
2 $613K$472.5K
-22.9%
3 $499.9K$520K
+4.0%
4 $600K$595K
-0.8%
5+ $651.4K$700K
+7.4%

Summary: 98047 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 22.9%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 7.4%.

Median Sold Price Compared To Nearby Zip Codes

98001
+3.7%
98002
+3.7%
98092
-3.4%
98390
-3.6%
98047
-5.4%

Housing Supply in 98047, WA

How many homes are available in 98047, WA?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
128-33.3%

Summary: The 98047 real estate market had 8 homes for sale in December 2024, a 33.3% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 00
0.0%
3 95
-44.4%
4 33
0.0%
5+ 00
0.0%

Summary: The 98047 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 44.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
220.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98047, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in 98047 in December 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for 98047, WA

How long does it take to sell a home in 98047, WA?

Average Sale Time

Dec 2023Dec 2024CHANGE
48 Days19 Days-60.8%

Summary: Homes in 98047 had an average of 19 days on market in Dec 2024, down by 60.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98047 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 2 homes were sold in 98047; 50% of homes were sold within 30 days, 50% 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 7 Days Ago

Newest Listings in 98047, WA

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