Is 98058, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98058 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98058 has remained a Seller's Market.

Key Takeaway

98058 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98058, WA

How much do homes in 98058, WA cost?

Median Sold Price

$724,043

$375/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,829(+1.8%)

Key Takeaway

Homes in 98058 have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in 98058 was $724,043 in October 2024, up 1.8% from last year, and the median price per square foot was $375.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $270.5K$250K
-7.6%
2 $419.5K$429.9K
+2.5%
3 $681.4K$672.7K
-1.3%
4 $759.9K$815K
+7.2%
5+ $858K$989K
+15.3%

Summary: 98058 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.6%, 2 bedroom homes increased by 2.5%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 15.3%.

Median Sold Price Compared To Nearby Zip Codes

98059
+14.1%
98031
+3.8%
98058
+1.8%
98055
-0.6%

Housing Supply in 98058, WA

How many homes are available in 98058, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
147165+12.2%

Summary: The 98058 real estate market had 165 homes for sale in October 2024, a 12.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 86
-25.0%
2 1520
+33.3%
3 4455
+25.0%
4 6872
+5.9%
5+ 1212
0.0%

Summary: The 98058 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3252+62.5%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98058, you could pay more than the asking price. 42.3% of homes here sold above asking price last month.

Summary: A total of 52 homes were sold or pending in 98058 in October 2024, up by 62.5% month-over-month. Of the 52 sold homes, 35% were sold under asking, 23% were sold at asking, and 42% were sold over asking.

Days on Market for 98058, WA

How long does it take to sell a home in 98058, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days22 Days-16.9%

Summary: Homes in 98058 had an average of 22 days on market in Oct 2024, down by 16.9% compared to last year.

Breakdown of Home Sale Times

40 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98058 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 52 homes were sold in 98058; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% 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

Newest Listings in 98058, WA

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