Is 98087, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98087 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98087 has remained a Seller's Market.

Key Takeaway

98087 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98087, WA

How much do homes in 98087, WA cost?

Median Sold Price

$726,500

$411/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,643(+3.5%)

Key Takeaway

Homes in 98087 have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in 98087 was $726,500 in October 2024, up 3.5% from last year, and the median price per square foot was $411.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $276K$212.5K
-23.0%
2 $492K$460K
-6.5%
3 $645K$693.7K
+7.6%
4 $833.7K$840K
+0.7%
5+ $974.3K$980K
+0.6%

Summary: 98087 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23%, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 0.6%.

Median Sold Price Compared To Nearby Zip Codes

98026
+22.8%
98012
+10.9%
98037
+10.1%
98087
+3.5%
98275
+3.0%

Housing Supply in 98087, WA

How many homes are available in 98087, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
154161+4.5%

Summary: The 98087 real estate market had 161 homes for sale in October 2024, a 4.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 2625
-3.8%
3 6875
+10.3%
4 4142
+2.4%
5+ 1819
+5.6%

Summary: The 98087 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 5.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5044-12.0%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98087, expect to pay close to the asking price. 43.2% of homes here sold near the asking price last month.

Summary: A total of 44 homes were sold or pending in 98087 in October 2024, down by 12.0% month-over-month. Of the 44 sold homes, 34% were sold under asking, 43% were sold at asking, and 23% were sold over asking.

Days on Market for 98087, WA

How long does it take to sell a home in 98087, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days20 Days+22.2%

Summary: Homes in 98087 had an average of 20 days on market in Oct 2024, up by 22.2% compared to last year.

Breakdown of Home Sale Times

37 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

Many homes in 98087 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 44 homes were sold in 98087; 84% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 7% 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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