Is 98070, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98070 is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 98070 was a Buyer's Market.

Key Takeaway

98070 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98070, WA

How much do homes in 98070, WA cost?

Median Sold Price

$827,500

$477/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$27,500(+3.4%)

Key Takeaway

Homes in 98070 have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in 98070 was $827,500 in November 2024, up 3.4% from last year, and the median price per square foot was $477.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $680K$590K
-13.2%
2 $731K$670K
-8.3%
3 $827K$960K
+16.1%
4 $1.2M$1.1M
-8.5%
5+ $1.1M$3.5M
+192.9%

Summary: 98070 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.2%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 16.1%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes increased by 192.9%.

Housing Supply in 98070, WA

How many homes are available in 98070, WA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4839-18.8%

Summary: The 98070 real estate market had 39 homes for sale in November 2024, a 18.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 55
0.0%
2 76
-14.3%
3 2720
-25.9%
4 76
-14.3%
5+ 22
0.0%

Summary: The 98070 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 25.9%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1110-9.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98070, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 98070 in November 2024, down by 9.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 40% were sold at asking, and 10% were sold over asking.

Days on Market for 98070, WA

How long does it take to sell a home in 98070, WA?

Average Sale Time

Nov 2023Nov 2024CHANGE
26 Days57 Days+115.5%

Summary: Homes in 98070 had an average of 57 days on market in Nov 2024, up by 115.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 98070 has remained consistent over time.

Summary: During November 2024, 10 homes were sold in 98070; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 30% 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 17 Days Ago

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