Is 98203, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98203 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98203 has remained a Seller's Market.

Key Takeaway

98203 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98203, WA

How much do homes in 98203, WA cost?

Median Sold Price

$625,750

$383/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$48,250(+8.4%)

Key Takeaway

Homes in 98203 have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in 98203 was $625,750 in October 2024, up 8.4% from last year, and the median price per square foot was $383.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $247.9K$325K
+31.1%
2 $427K$469K
+9.8%
3 $575K$625K
+8.7%
4 $702.5K$750K
+6.8%
5+ $882.5K$770K
-12.7%

Summary: 98203 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.1%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 12.7%.

Median Sold Price Compared To Nearby Zip Codes

98208
+13.6%
98203
+8.4%
98204
+4.9%
98201
+3.5%
98275
+3.0%

Housing Supply in 98203, WA

How many homes are available in 98203, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
96118+22.9%

Summary: The 98203 real estate market had 118 homes for sale in October 2024, a 22.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 02
+100.0%
2 2124
+14.3%
3 3850
+31.6%
4 3036
+20.0%
5+ 76
-14.3%

Summary: The 98203 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2825-10.7%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98203, you may be able to get a good deal. 48% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in 98203 in October 2024, down by 10.7% month-over-month. Of the 25 sold homes, 48% were sold under asking, 28% were sold at asking, and 24% were sold over asking.

Days on Market for 98203, WA

How long does it take to sell a home in 98203, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days26 Days+58.8%

Summary: Homes in 98203 had an average of 26 days on market in Oct 2024, up by 58.8% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98203 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 25 homes were sold in 98203; 64% of homes were sold within 30 days, 32% 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 13 Days Ago

Newest Listings in 98203, WA

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