Is 98109, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98109 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 98109 has remained a Seller's Market.

Key Takeaway

98109 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98109, WA

How much do homes in 98109, WA cost?

Median Sold Price

$849,500

$679/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$60,500(-6.6%)

Key Takeaway

Homes in 98109 have sold for 6.6% less than they did a year ago.

Summary: The median home sold price in 98109 was $849,500 in November 2024, down 6.6% from last year, and the median price per square foot was $679.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $416.4K$465K
+11.7%
2 $800K$799.9K
0%
3 $1.2M$1.3M
+10.2%
4 $1.6M$1.7M
+8.2%
5+ $1.7M$1.9M
+11.4%

Summary: 98109 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 11.4%.

Median Sold Price Compared To Nearby Zip Codes

98102
+35.1%
98101
+17.3%
98121
+6.8%
98119
+6.6%
98109
-6.6%

Housing Supply in 98109, WA

How many homes are available in 98109, WA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
126120-4.8%

Summary: The 98109 real estate market had 120 homes for sale in November 2024, a 4.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 4846
-4.2%
2 4142
+2.4%
3 2118
-14.3%
4 109
-10.0%
5+ 65
-16.7%

Summary: The 98109 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 2.4%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2225+13.6%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98109, you may be able to get a good deal. 64% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 98109 in November 2024, up by 13.6% month-over-month. Of the 25 sold homes, 64% were sold under asking, 24% were sold at asking, and 12% were sold over asking.

Days on Market for 98109, WA

How long does it take to sell a home in 98109, WA?

Average Sale Time

Nov 2023Nov 2024CHANGE
37 Days40 Days+7.9%

Summary: Homes in 98109 had an average of 40 days on market in Nov 2024, up by 7.9% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 98109 has remained consistent over time.

Summary: During November 2024, 25 homes were sold in 98109; 32% of homes were sold within 30 days, 64% of homes were sold within 30 to 90 days, and 4% 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

Newest Listings in 98109, WA

Nearby Markets to 98109, WA