Is 98072, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98072 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98072 has remained a Seller's Market.

Key Takeaway

98072 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98072, WA

How much do homes in 98072, WA cost?

Median Sold Price

$1,295,000

$541/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$110,000(+9.3%)

Key Takeaway

Homes in 98072 have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in 98072 was $1,295,000 in October 2024, up 9.3% from last year, and the median price per square foot was $541.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $302K$314.2K
+4.1%
2 $500K$455K
-9.0%
3 $1.0M$1.0M
+2.1%
4 $1.4M$1.6M
+13.9%
5+ $1.7M$1.9M
+8.5%

Summary: 98072 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes decreased by 9%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 8.5%.

Median Sold Price Compared To Nearby Zip Codes

98034
+21.6%
98011
+11.4%
98077
+11.1%
98072
+9.3%
98021
-3.2%

Housing Supply in 98072, WA

How many homes are available in 98072, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
128148+15.6%

Summary: The 98072 real estate market had 148 homes for sale in October 2024, a 15.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 32
-33.3%
2 1013
+30.0%
3 4858
+20.8%
4 5661
+8.9%
5+ 1114
+27.3%

Summary: The 98072 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1828+55.6%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98072, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in 98072 in October 2024, up by 55.6% month-over-month. Of the 28 sold homes, 43% were sold under asking, 25% were sold at asking, and 32% were sold over asking.

Days on Market for 98072, WA

How long does it take to sell a home in 98072, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days29 Days+11.5%

Summary: Homes in 98072 had an average of 29 days on market in Oct 2024, up by 11.5% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98072 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 28 homes were sold in 98072; 71% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 11% 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 22 Days Ago

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