Is 98223, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98223 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 98223 has remained a Seller's Market.

Key Takeaway

98223 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98223, WA

How much do homes in 98223, WA cost?

Median Sold Price

$615,000

$359/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,000(+2.5%)

Key Takeaway

Homes in 98223 have sold for 2.5% more than they did a year ago.

Summary: The median home sold price in 98223 was $615,000 in October 2024, up 2.5% from last year, and the median price per square foot was $359.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $346.2K$391K
+12.9%
2 $450K$464K
+3.1%
3 $565K$587.5K
+4.0%
4 $715K$725K
+1.4%
5+ $974.7K$1.0M
+4.9%

Summary: 98223 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 4.9%.

Median Sold Price Compared To Nearby Zip Codes

98274
+7.0%
98271
+4.2%
98223
+2.5%
98258
+2.2%
98252
+1.0%

Housing Supply in 98223, WA

How many homes are available in 98223, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
181176-2.8%

Summary: The 98223 real estate market had 176 homes for sale in October 2024, a 2.8% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1112
+9.1%
2 2123
+9.5%
3 9989
-10.1%
4 4345
+4.7%
5+ 77
0.0%

Summary: The 98223 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 9.5%, 3 bedroom homes decreased by 10.1%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5535-36.4%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98223, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in 98223 in October 2024, down by 36.4% month-over-month. Of the 35 sold homes, 40% were sold under asking, 37% were sold at asking, and 23% were sold over asking.

Days on Market for 98223, WA

How long does it take to sell a home in 98223, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
29 Days63 Days+116.9%

Summary: Homes in 98223 had an average of 63 days on market in Oct 2024, up by 116.9% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98223 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 35 homes were sold in 98223; 46% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 17% 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 21 Days Ago

Newest Listings in 98223, WA

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